Looking to sell your Detroit business? Warren Buffett has an 800 number for that.
While visiting Detroit Tuesday morning for an event promoting Goldman Sachs' 10,000 Small Businesses initiative, which pairs small businesses with training, guidance and loans, Buffet offered support by saying he is willing to invest in the right Detroit business.
"Anyone who wants a finder's fee," he joked, "find me a business!"
Detroit is the 17th city to be added to the 10,000 Small Businesses program, which pairs small businesses with training, guidance and loans.
"I have a real love of the city and the potential's huge," Buffett said.
He reminded, "Still, you may need a reorganization plan. Exactly what that should be, you know I'm not an expert on that . But I do know that the resources in terms of the people the businesses the history the culture are al there to have a great city in the future. It requires and it will require probably some sort of plan to readjust the debt of the past and ongoing expenses."
Buffett is the CEO of Berkshire Hathaway, a company that has a stake in the city of Detroit, mostly in the form of water and sewerage department bonds. Buffett also invests in GM.
Lloyd Blankfein, the CEO of Goldman Sachs, added that New York City's bankruptcy is just a "dim memory" now.
"At the end of the day, whatever happens, the river's still here, the people are still here, there's a future of Detroit."
