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POJOAQUE – Paul Kedrosky, a CNBC television analyst and writer-investor-consultant, told a “New Heights” gathering of entrepreneurs and their supporters that the harsh economy was no reason to throw in the towel.
A Senior Fellow at the Kaufman Foundation, dedicated to understanding and enhancing American Entrepreneurship, Kedrosky said an interesting finding by the foundation was that many companies established during recessions, like Microsoft, Sun, Genentch, TCBY and SGI, went on to great national success.
“The lesson of history is we need you more than ever,” he said. “It’s the entrepreneur who’s most likely to say, ‘Yeah, I’ll take a flyer here.’”
In fact, the best time to start a bank was in the 1930’s, contrary to lessons that many might have drawn from the bank failures that occurred during the Depression.
“That doesn’t necessarily mean we should all go out and create credit default syndications companies,” he said, referring to the current credit crisis, “but the economy is speaking to us.”
Kauffman gave the keynote speech Wednesday evening, as New Mexico Connect held its second annual client recognition and award ceremony at Buffalo Thunder Resort and Casino.
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