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CBS News
an hour ago
- CBS News
When coal jobs left New River Gorge, its rapids carried on. National park status is powering its revival.
Whitewater rafting along the rapids of West Virginia's New River is fueling the revival of a region that once roared to the rhythm of coal cars. Larry Nibert, a rafting guide and descendant of coal miners, sees reminders of his family's history everywhere. "I feel an overwhelming sense of pride. Three generations of us had been in the mines and I was the first one to ever step out otherwise. I was this close to going to the coal mines," Nibert said. Coal once powered the economy here, but those jobs have dwindled to a fraction of what they were as cheaper natural gas undercut demand for coal. But hope is now streaming through this part of West Virginia, centered around the New River Gorge National Park. "When the last coal mine in the Gorge closed, which was in the early 1960s, that was about the same time that we actually had the first whitewater industry come in," said Eve West, who has worked at the park since 2013. West says the turnaround started in 2020, when New River Gorge was officially designated as a national park. "It was a game changer for us. I mean, our visitation has gone up about 40% historically over a 5-year period," West said. Besides whitewater rafting, there's rock climbing, mountain biking and zip lining. It's also the only national park in the country that allows bridge base jumping, once a year. Since New River Gorge was designated a national park, local employment and visitor spending has nearly doubled, leading to an $86 million infusion to the local economy in 2023, according to the National Park Service. "I just think it shows that there is always hope. We may have to pivot, just kind of have to look at where the opportunities are," West said.
Bloomberg
2 hours ago
- Bloomberg
Schwab's Aguilar On Odds of A Risk Asset Rally
Omar Aguilar, CEO & CIO of Schwab Asset Management, says the firm urges clients to focus on the 'direction of travel' and long-term trends. He tells Romaine Bostick and Scarlet Fu on 'The Close' that rates are likely to move lower between now and mid 2026. (Source: Bloomberg)
Bloomberg
2 hours ago
- Bloomberg
Last-Minute Flight Bookings Set Up ‘Nail Biter' for US Airlines
US leisure and business travelers beaten down by economic uncertainty are waiting until the last minute to book air travel. Many trips are being booked less than two weeks ahead of time — instead of the more typical one month or more. That is making it tough for airlines to forecast the capacity they need, putting revenue and profits at risk if carriers misjudge demand. US airlines have had a tough year already with Donald Trump's trade war eroding consumer optimism and cutting into travel demand. Flying has bounced back since June, but the lingering trend of late booking is undermining carriers' ability to cash in on the busy upcoming holiday travel period. Bloomberg News US Airlines Reporter Mary Schlangenstein joins Bloomberg Businessweek Daily to discuss. (Source: Bloomberg)
