Gov. Jon Corzine talks about the positive side to a recession.
Corzine: I think that sorting through the challenged companies who have preserved their liquidity and will allow them to get through this rough patch that we have in the current economy and have good business positions for offering things that people need, you know. I think buying real estate or companies that are owners of quality real estate portfolios right now is a sensible thing to do. You’re going to buy them a lot cheaper than you would’ve brought them a year ago or two years go or four years ago. Same for some of the companies that are in the alternative energy space. Finding companies that have strong balance sheets, good market position, and it create real values. So private equity companies, I think, have number of opportunities. Here in New Jersey, the biotech industry is an enormous opportunity for well-positioned companies and for private equity investors to put capital to work and look for the long-term benefit that will come from a rising economy, a greater commitment to basic research, basic commitment to science that, I think, we have not put enough money in a society.