Evan Chandler
Morning Word, July 24: “NM at high risk for private equity exploitation”
Private equity does public good
Election-year politics normally bring out finger-pointing, but a report issued by Senate Joint Economic Committee Chair Martin Heinrich, D-NM, unfairly attacks private equity investments that support public pensions, small businesses and workers in New Mexico.
Private equity investments support 61,000 jobs across New Mexico. From 2019 to 2023, private equity invested nearly $600 million in New Mexico-based small businesses. The average employee of private equity firms and private equity-backed companies earned $80,000 in wages and benefits, well-above the national average.
Notably, the Public Employees’ Retirement [Association] of New Mexico’s private equity portfolio delivered a 10-year annualized return of 17.35%, helping to secure the retirement of New Mexico’s police, firefighters and teachers.
America’s health care system has tremendous challenges—but private equity funds research into deadly diseases like Alzheimer’s and Parkinson’s, expands facilities and modernizes medical records. New Mexico faces a shortage of rural health care providers. Private equity has innovated the urgent care center model, helping get rural patients the care they need over shorter distances while not overwhelming the limited number of rural hospitals.
We would welcome Sen. Heinrich’s support for an industry so important to innovators, jobs and thousands of retirees across the state.
Drew Maloney
President and CEO of the American Investment Council and former assistant secretary of the Treasury for Legislative Affairs
Online, Aug. 7: “City Celebrates 100th Zozobra With New Statue”
Instagram has feelings
They should have put it on the Plaza where the obelisk was! I think everyone loves Zozobra and it would have brought the community together. —hoboarchitect
This is perfect! —sfgloom
But, he’s supposed to be destroyed to rid us of our burdens, right? —yes_cassie
Melt him! —oliverpolzinart
