Ruidoso is poor?

How do you make $1 million in Ruidoso?

You come in with $2 million.

Well, that's the old joke -- but it's not all that far from the truth. Being successful in business here takes planning, capital and a serious commitment.

In a recent letter to the editor, a local reports on a conversation overheard in nearby Roswell. The ladies were discussing recent business closures here, and one person said, "The problem with Ruidoso is that it is so poor." Hmmm... very interesting observation. Unexpected.

Wonder exactly what she meant. Did she mean the Ruidoso economy appears weak? Did she mean that most people working in Ruidoso don't make more than $28,000/year? Did she mean that business people just don't have enough working capital? Don't know, but here's my take on Ruidoso's finances.

Relatively speaking (relative to many New Mexico communities), Ruidoso ain't poor. The problem, I guess, is that the money is mostly not owned by the people who live and work here year round. It belongs to the people who live here part-time and work elsewhere, or those who have retired here, or those who are just passing the time here. This situation is typical of a resort community.

As for the working capital of business people... Many Ruidoso businesses have been successful for more than 20 years. But as this is a tourist town, it is not unusual to see to businesses survive for only a few years, to be immediately replaced by new businesses. This rise and fall does not indicate a problem with the economy, in my opinion. It reflects a business attitude typical of small resort towns, the "I've always wanted to own a little boutique (or cafe) so I'll just hang a shingle and see what happens, just for the fun of it." Nothing wrong with that, but businesses like that are short-lived.

The ladies Mr. Greenlee overheard specifically mentioned the closing of Pasta Cafe --however, Pasta Cafe has, in fact, been sold and is being turned into an Irish pub. Hey, at least it's not another Mexican food restaurant!