1 00:00:03,240 --> 00:00:06,680 Speaker 1: Global business news twenty four hours a day at Bloomberg 2 00:00:06,720 --> 00:00:09,799 Speaker 1: dot Com, the Radio plus mobile last and on your radio. 3 00:00:10,039 --> 00:00:14,360 Speaker 1: This is a Bloomberg Business Flat broom, Bloomberg World Headquarters. 4 00:00:14,480 --> 00:00:17,400 Speaker 1: I'm Charlie Holoth. New Low's for stocks on this Friday, 5 00:00:17,560 --> 00:00:22,000 Speaker 1: The DAL, the SMP, NESDAK all declining stocks slipping back 6 00:00:22,040 --> 00:00:24,560 Speaker 1: into their three week old funk after a racing a 7 00:00:24,640 --> 00:00:29,400 Speaker 1: rally as comments from Fed Reserve Vice chairman Stanley Fisher 8 00:00:29,440 --> 00:00:32,800 Speaker 1: boosted speculation that interest rates could rise as soon as 9 00:00:32,880 --> 00:00:35,520 Speaker 1: next month. We've got the down down one hundred points 10 00:00:35,520 --> 00:00:38,680 Speaker 1: now declining five tenths of one percent to eighteen thousand, 11 00:00:38,720 --> 00:00:42,000 Speaker 1: three hundred forty eight. The SMP five hundred index down 12 00:00:42,280 --> 00:00:45,360 Speaker 1: ten to twenty one sixty two, a drop of five 13 00:00:45,400 --> 00:00:48,479 Speaker 1: tenths of one percent. As stack is down three tents 14 00:00:48,479 --> 00:00:51,560 Speaker 1: of one percent. The tenure down thirteen thirty seconds, held 15 00:00:51,560 --> 00:00:54,400 Speaker 1: there one point six two percent. Gold Little Change down 16 00:00:54,440 --> 00:00:57,840 Speaker 1: twenty cents now thirteen twenty one. The Ounce Crewede West 17 00:00:57,880 --> 00:01:00,960 Speaker 1: Texas Intermediate up thirty cents now up six tenths of 18 00:01:01,000 --> 00:01:05,000 Speaker 1: one percent to seven dollars sixty three cents. I'm Charlie Pellot. 19 00:01:05,040 --> 00:01:10,039 Speaker 1: That's a Bloomberg Business Flash. This he's taking stock with 20 00:01:10,120 --> 00:01:13,560 Speaker 1: Kathleen hasan pim Fox line from the Jackson Hole Economic 21 00:01:13,600 --> 00:01:18,760 Speaker 1: Symposium on Bloomberg Radio. Jackson Hole Symposium, Yes, and the 22 00:01:18,800 --> 00:01:23,520 Speaker 1: Grand Teton National Park two things that are intertwined this week. 23 00:01:23,560 --> 00:01:26,040 Speaker 1: And here to tell us more about Grand Teton National 24 00:01:26,120 --> 00:01:29,040 Speaker 1: Park as Andrew White. He is the assistant public Affairs 25 00:01:29,080 --> 00:01:32,680 Speaker 1: officer and he joins us from Jackson Hole, Wyoming. Andrew White, 26 00:01:32,680 --> 00:01:35,560 Speaker 1: thank you very much for being with us. Thanks for 27 00:01:35,600 --> 00:01:39,119 Speaker 1: having me. Then let's begin by just taking a step back. 28 00:01:39,200 --> 00:01:41,639 Speaker 1: This is the one or yesterday was the one hundredth 29 00:01:41,640 --> 00:01:45,479 Speaker 1: anniversary of the National Park Service. Tell us a little 30 00:01:45,520 --> 00:01:48,360 Speaker 1: bit more about how you came to be part of 31 00:01:48,360 --> 00:01:52,680 Speaker 1: the Park Service and what that means to you. Sure, so, 32 00:01:52,880 --> 00:01:55,920 Speaker 1: my personal story started about rule Really it started about 33 00:01:55,920 --> 00:01:58,080 Speaker 1: twenty years ago as a as a child coming up 34 00:01:58,120 --> 00:02:01,120 Speaker 1: and visiting national parks like Grand Teton on with my 35 00:02:01,160 --> 00:02:03,360 Speaker 1: parents as always the big family vacation thing, you know, 36 00:02:03,400 --> 00:02:06,720 Speaker 1: load up the van and visit the national parks. Six 37 00:02:06,800 --> 00:02:09,040 Speaker 1: years ago I was lucky enough to be invited to 38 00:02:09,080 --> 00:02:12,280 Speaker 1: be an intern at Grand Teton National Park, actually as 39 00:02:12,280 --> 00:02:15,880 Speaker 1: a ranger interpreter out in the field, visiting with visitors, 40 00:02:16,000 --> 00:02:18,880 Speaker 1: talking about the park resources and really helping them understand 41 00:02:18,880 --> 00:02:21,240 Speaker 1: what they were seeing. Now, if you were in the 42 00:02:21,320 --> 00:02:25,640 Speaker 1: park today or even yesterday as someone out in the field, 43 00:02:26,320 --> 00:02:30,040 Speaker 1: you'd be talking about wildfires because I understand that if 44 00:02:30,040 --> 00:02:33,120 Speaker 1: you take a look at the lake, Jackson Lake, if 45 00:02:33,160 --> 00:02:35,080 Speaker 1: you're on the shore of Jackson Lake in the Grand 46 00:02:35,080 --> 00:02:38,120 Speaker 1: Teton National Park and you're going to see the berry fire, 47 00:02:38,200 --> 00:02:42,480 Speaker 1: tell us the extent of fires right now in the park. Yeah. 48 00:02:42,600 --> 00:02:45,400 Speaker 1: So part of our centennial celebration, I guess, is nature 49 00:02:45,400 --> 00:02:48,000 Speaker 1: strowing us a little party with the wildfires. Some people 50 00:02:48,040 --> 00:02:51,720 Speaker 1: put candles on the birthday cake, but we're having a wildfire. Um. 51 00:02:51,720 --> 00:02:54,600 Speaker 1: It was caused by lightning back in July. Actually, it 52 00:02:54,639 --> 00:02:57,399 Speaker 1: had been burning in remote wilderness areas of the park 53 00:02:57,440 --> 00:02:59,960 Speaker 1: for a number of weeks, and then this past week 54 00:03:00,040 --> 00:03:03,520 Speaker 1: and a significant wind event came and actually carried across 55 00:03:03,600 --> 00:03:06,520 Speaker 1: Jackson Lake and closed Highway eighty nine, which is the 56 00:03:06,560 --> 00:03:10,200 Speaker 1: main artery connecting Grand Teton and Yellowstone National Parks. So 57 00:03:10,720 --> 00:03:14,800 Speaker 1: it certainly created some some degree of travel difficulties for 58 00:03:14,800 --> 00:03:17,040 Speaker 1: folks trying to connect the two parks, but both of 59 00:03:17,080 --> 00:03:19,640 Speaker 1: the parks are open. Um, we encourage people to to 60 00:03:19,800 --> 00:03:22,600 Speaker 1: certainly celebrate the centennial and the Yellowstone or Grand Teton 61 00:03:22,720 --> 00:03:25,080 Speaker 1: National Parks as most of our visitor areas are open. 62 00:03:25,720 --> 00:03:29,040 Speaker 1: Is there any relationship to the ability to keep the 63 00:03:29,120 --> 00:03:33,160 Speaker 1: park in its in it's a high condition and to 64 00:03:33,280 --> 00:03:36,600 Speaker 1: deal with these ongoing and natural events like the wildfires 65 00:03:36,640 --> 00:03:39,560 Speaker 1: as you describe, is the is the challenge also that 66 00:03:39,600 --> 00:03:43,920 Speaker 1: the funding is is an issue, well not really when 67 00:03:43,960 --> 00:03:47,440 Speaker 1: we talk about wildfire. Part of managing a national park 68 00:03:47,600 --> 00:03:51,440 Speaker 1: is is managing and protecting the natural processes and wildfire 69 00:03:51,520 --> 00:03:53,680 Speaker 1: like the berry fire that was was caused by lightning, 70 00:03:54,200 --> 00:03:56,840 Speaker 1: UM is a natural process and where where we can 71 00:03:56,840 --> 00:03:59,160 Speaker 1: allow it to continue to to put its natural role 72 00:03:59,160 --> 00:04:01,800 Speaker 1: in the ecosystem, we wanted to continue to play that role. 73 00:04:01,840 --> 00:04:04,960 Speaker 1: You know, wildfire will renew a landscape, UM, it creates 74 00:04:05,000 --> 00:04:08,400 Speaker 1: new wildlife habitat UM. Some trees and plants actually depend 75 00:04:08,440 --> 00:04:12,040 Speaker 1: on wildfire to to regenerate UM. So we're where we 76 00:04:12,080 --> 00:04:14,560 Speaker 1: can we certainly allow those fires to burn and m 77 00:04:14,640 --> 00:04:16,440 Speaker 1: want them to play their their natural role. Now when 78 00:04:16,480 --> 00:04:18,200 Speaker 1: it comes into more developed there is that's when we 79 00:04:18,200 --> 00:04:20,560 Speaker 1: have to take suppression action. So this is kind of 80 00:04:20,600 --> 00:04:22,760 Speaker 1: a complex fire where in some areas we might be 81 00:04:22,800 --> 00:04:25,520 Speaker 1: suppressing it or containing it. In other areas we wanted 82 00:04:25,560 --> 00:04:27,880 Speaker 1: to to burn into the wilderness and play its role. 83 00:04:28,360 --> 00:04:30,760 Speaker 1: I understand that there's a lot of deferred maintenance though 84 00:04:30,760 --> 00:04:33,360 Speaker 1: in the whole National Park Service, not just obviously we're 85 00:04:33,360 --> 00:04:38,280 Speaker 1: talking about the Teton National Park. You've got corporate sponsorships. 86 00:04:38,279 --> 00:04:41,960 Speaker 1: How do you sort of manage the corporate sponsorships is 87 00:04:42,000 --> 00:04:44,720 Speaker 1: as well as any of the funding issues that might 88 00:04:44,760 --> 00:04:47,600 Speaker 1: affect your ability to do your job as best you can, 89 00:04:49,160 --> 00:04:51,560 Speaker 1: sure Penn. So we have a two or twenty two 90 00:04:51,600 --> 00:04:54,920 Speaker 1: million dollar maintenance back just here at Grand Teton National Park, 91 00:04:55,400 --> 00:04:57,880 Speaker 1: which is obviously significant, and most of that is in roads, 92 00:04:57,960 --> 00:05:01,320 Speaker 1: utility systems, buildings, uh, all that require maintenance in our 93 00:05:01,440 --> 00:05:04,120 Speaker 1: overdue for that maintenance. UM. One of the ways that 94 00:05:04,160 --> 00:05:07,360 Speaker 1: we we can help remedy some of that is through 95 00:05:07,400 --> 00:05:10,440 Speaker 1: private philanthropy. We have a very significant partner here, the 96 00:05:10,440 --> 00:05:14,080 Speaker 1: Grand Teton National Park Foundation, which helps us really provide 97 00:05:14,080 --> 00:05:16,120 Speaker 1: that margin of survival and that margin of excellence when 98 00:05:16,120 --> 00:05:19,280 Speaker 1: it comes to funding. Actually, tonight we're gonna be celebrating 99 00:05:19,279 --> 00:05:21,880 Speaker 1: the end of a fourteen million dollar capital campaign that 100 00:05:21,920 --> 00:05:25,159 Speaker 1: they've undertook UM to help renew the Genny Lake area, 101 00:05:25,200 --> 00:05:27,800 Speaker 1: which is the most visited area in Grand Teetown National Park. 102 00:05:28,279 --> 00:05:30,279 Speaker 1: They also help us with a number of education programs 103 00:05:30,279 --> 00:05:33,080 Speaker 1: and wildlife research UM And right now they're actually helping 104 00:05:33,200 --> 00:05:37,160 Speaker 1: fundraise for private inholding. Are actually a piece of land 105 00:05:37,200 --> 00:05:39,560 Speaker 1: that's owned by the state of Wyoming UM that we 106 00:05:39,600 --> 00:05:41,680 Speaker 1: would like to acquire for for National park lands, and 107 00:05:41,720 --> 00:05:44,880 Speaker 1: they're helping fundraise for that. So private philanthropy is definitely 108 00:05:44,880 --> 00:05:47,960 Speaker 1: a big piece of funding in the National Parks. Well, 109 00:05:48,040 --> 00:05:50,960 Speaker 1: just to put this into perspective, I understand that funding 110 00:05:51,040 --> 00:05:55,279 Speaker 1: for the National Parks is less than a tenth of 111 00:05:55,320 --> 00:06:00,320 Speaker 1: a percent of overall federal spending. And to your point 112 00:06:00,400 --> 00:06:04,919 Speaker 1: about donations from the private sector, uh, David Rubinstein of 113 00:06:05,279 --> 00:06:07,600 Speaker 1: the Carlisle Group, he gave about seven and a half 114 00:06:07,680 --> 00:06:12,240 Speaker 1: million dollars to shore up the earthquake Washington Monument in Washington, 115 00:06:12,360 --> 00:06:15,240 Speaker 1: d c. And also a nearly twenty million to restore 116 00:06:15,240 --> 00:06:18,360 Speaker 1: the Lincoln Memorial. What do you say to people that 117 00:06:18,400 --> 00:06:21,920 Speaker 1: may want to get involved in helping to maintain and 118 00:06:22,000 --> 00:06:26,800 Speaker 1: refurbish our National Park Service. Absolutely, David Rubinstein is a 119 00:06:26,800 --> 00:06:29,080 Speaker 1: great example of that. There are a number of friends 120 00:06:29,080 --> 00:06:32,240 Speaker 1: groups throughout the National Park Servicemen of the bigger national 121 00:06:32,279 --> 00:06:35,880 Speaker 1: parks that Grand Teatown Yelstone will have foundations devoted specifically 122 00:06:35,960 --> 00:06:39,040 Speaker 1: to that national park. There's also the National Park Foundation 123 00:06:39,120 --> 00:06:41,600 Speaker 1: that works on the national scale UM, so folks can 124 00:06:41,600 --> 00:06:44,600 Speaker 1: definitely get involved with the National Park Foundation. UM and 125 00:06:44,680 --> 00:06:47,800 Speaker 1: I would say that the national parks are great investment. UM. 126 00:06:48,200 --> 00:06:51,280 Speaker 1: For every ten dollars or excuse me, um, for every 127 00:06:51,320 --> 00:06:54,239 Speaker 1: one doll that's spent on operations in the National Park Service, 128 00:06:54,680 --> 00:06:57,360 Speaker 1: we returned ten dollars to the local economy. In fact, 129 00:06:57,440 --> 00:07:01,920 Speaker 1: in visitors to grant the Atenne National Granteeton National Park 130 00:07:02,000 --> 00:07:06,160 Speaker 1: spent five sixty million dollars UM in the gateway communities 131 00:07:06,240 --> 00:07:09,120 Speaker 1: in this area, so certainly an economic bon for local communities. 132 00:07:09,240 --> 00:07:11,040 Speaker 1: I want to thank you very much for spending time 133 00:07:11,120 --> 00:07:14,080 Speaker 1: with us, and happy birthday to the National Park Service. 134 00:07:14,240 --> 00:07:17,720 Speaker 1: Andrew White is the Assistant Public Affairs Officer of Grand 135 00:07:17,840 --> 00:07:22,280 Speaker 1: Teton National Park, joining us from Jackson Hole, Wyoming and 136 00:07:22,600 --> 00:07:25,160 Speaker 1: uh if you want, there is a photograph of Mr 137 00:07:25,280 --> 00:07:30,080 Speaker 1: White stepping from his Subaru outbrack donated to the Grand 138 00:07:30,120 --> 00:07:32,600 Speaker 1: Team Todd National Park last year by the National Park 139 00:07:32,640 --> 00:07:38,120 Speaker 1: Foundation and Subaru of America on their National Park Service website. 140 00:07:38,600 --> 00:07:48,440 Speaker 1: This is Bloomberg coming up on taking stock. On conversation 141 00:07:48,520 --> 00:07:50,600 Speaker 1: with Jim Bullard. He is the President and the chief 142 00:07:50,680 --> 00:07:54,000 Speaker 1: executive of the Federal Reserve Bank of St. Louis. You'll 143 00:07:54,040 --> 00:07:57,800 Speaker 1: discuss the current economy and the Federal reserves thinking about 144 00:07:57,840 --> 00:07:58,480 Speaker 1: interest rates.