"Face the Nation" transcript: August 28, 2011

BOB SCHIEFFER: Okay. Well, Byron, thank you very much and-- and if you just do one thing, stay on foot. I don't think it is quite time to get on the bike, yeah, but thanks a lot, Byron.

BYRON PITTS: All right, thanks.

BOB SCHIEFFER: All right. CBS's national correspondent Chip Reid is in Ocean City, Maryland, this morning. We're trying-- going on the path the storm backwards. He's not bicycle this morning. Chip, what's the latest down there?

CHIP REID (CBS News National Correspondent): Well, Bob I tell you yesterday when we looked south, we thought we saw doom coming in the direction of Ocean City, Maryland. We looked down there and you can see little slivers of blue sky. In fact, this city has already been (AUDIO CUT) and at noon it is supposed to open up to tourists and vacationers. They want the people back, two hundred thousand people went over the bridges from this narrow Barrier Island over recent days and now they want them back as quickly as they can get them back here. A lot of people, a lot of business owners around here are very irked that they were sent away in the first place because they are now saying, well, I told you so, this wasn't going to be a big storm, but the mayor vigorously defends his decision, he says if there had been huge numbers of people here with the strong winds, it certainly would have been a much more dangerous situation. The mayor's bottom line is he says they didn't just dodge a bullet, they dodged a missile. Bob.

BOB SCHIEFFER: I'm kind of with a mayor around that. Thank you very much, Chip. CBS News correspondent Mark Strassmann is on the outer banks of North Carolina, of course, that's where act one of all those began when the-- when the storm made its first landfall there. So, I take it things are looking a little better down there this morning too right, Mark.

MARK STRASSMANN (CBS News Transportation Correspondent): Right, Bob. Much better in fact, Irene is just not the knock out punch that may people even here had been afraid of. These barrier islands actually have come out of this pretty well proving once again they can take a punch. Impressively so when you consider how ferociously and ominously Irene first came at shore with winds of-- of one hundred fifteen miles per hour, the storm shoring here for about twelve hours, I was still hearing it last night in my room and the storm system also dropped about seven inches of rain here, which is why flooding along the rain, the storm surged, the flooding is now the big issue, of course, on the west side of these Barrier Islands. There is some flooding and there is some damage. A lot of folks today woke up to discover they have a major cleanup ahead of them. In some cases, they have a basement pump out but all in all they really feel okay about this, in fact, Bob, if the west of the East Coast comes out of this as well as these Barrier Islands did, they should consider themselves lucky.

BOB SCHIEFFER: Well, that is just amazing. Well, thank you-- thank you so much, Mark. CBS News will present a one-hour special anchored by Scott Pelley just after the conclusion of FACE THE NATION today. And now I want to turn from what is happening and the storm and what was supposed to happen and that is the dedication of the memorial honoring the late Doctor Martin Luther King, Jr. Tens of thousands of people were expected to turn out here in Washington, to honor Doctor King on this, the 48th anniversary of his "I Have a Dream" speech. General Colin Powell was instrumental in getting that memorial built and he is with us this morning to talk about that and some other things too. General Powell, welcome.

General, you were very instrumental in getting this memorial built and done, I think you raised yourself over a million dollars for this.

GENERAL COLIN POWELL (Former Secretary of State): I was pleased to serve on the leadership committee, many people contributed and my contribution was relatively modest compared to what others did, but it was important memorial to build.

BOB SCHIEFFER: I wanted to ask you this more personal question, what did Martin Luther King, Jr., mean to you?