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Goldman Sachs 10000 Small Businesses Detroit

Goldman Sachs 10000 Small Businesses Detroit – Investor Warren Buffett (left) and Detroit businessman Dan Gilbert talk about small business opportunities in the city at an event at Eastern Market.

Business and community leaders talk about small business opportunities in Detroit during a panel discussion Tuesday at Eastern Market. From left: WDIV anchor Carmen Harlan; Detroit Mayor Dave Bing; Lloyd Blankfein, Chairman and CEO of Goldman Sachs; Pam Rodgers, owner of Rodgers Chevrolet; Warren Buffett, chairman and CEO of Berkshire Hathaway, and Dan Gilbert, founder and chairman of Rock Ventures LLC and Quicken Loans Inc.

Goldman Sachs 10000 Small Businesses Detroit

Goldman Sachs 10000 Small Businesses Detroit

The right time to invest in Detroit is now. At least that’s the consensus of legendary billionaire investor Warren Buffett, along with business and community leaders who participated in a panel discussion at Eastern Market on Tuesday.

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The discussion follows the announcement of Goldman Sachs’ 10,000 Small Business Initiative, which will provide $20 million to Detroit’s small businesses.

Michigan Governor Rick Snyder spoke before the panel discussion and luncheon, encouraging the 350 business, community and development leaders to spread the word about the initiative to small business owners who would benefit from the program.

Buffett, Berkshire Hathaway Inc. chairman and CEO, along with Lloyd Blankfein, chairman and CEO of Goldman Sachs; Dan Gilbert, founder and chairman of Detroit-based Rock Ventures LLC and Quicken Loans Inc.; Pam Rodgers, owner of Woodhaven-based Rodgers Chevrolet, and Detroit Mayor Dave Bing will talk about the initiative.

“You can never be really good if things go your way,” Blankfein said of why the initiative chose bankrupt Detroit to join Chicago, Cleveland and 16 other urban and rural communities across the United States where the initiative operates. Blankfein said Detroit has the right people, institutions, investors and community spirit to foster successful small businesses, and he’d rather “buy low than high” when it comes to investment.

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Buffett used the example of New York’s turnaround in the 1970s as an example of what could happen in Detroit.

“There are tons of small business owners who need an opportunity to reach their full potential in this city, and there’s nothing more fun than seeing something small grow big,” said Buffett, a program advisor to Goldman Sachs.

Rodgers said she thinks people won’t recognize Detroit in a few years because of this business growth and that the transformation has already begun.

Goldman Sachs 10000 Small Businesses Detroit

“It’s the right place and the right time to be in town, so the timing of this initiative is phenomenal,” she said.

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The panelists also offered advice for small business owners on how to succeed: Gilbert said to make sure you’re in it for the right reasons; Buffett said he always thinks about the customers.

Mentoring is one of the benefits entrepreneurs will receive under the initiative, as business and management training is one of the program’s three pillars, along with access to capital and business support services.

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The CEO of Goldman Sachs is drawing on memories of New York City’s ghosts to make sure Detroit small businesses get a share of $20 million. contribute to Detroit… Stabenow pledged to support Detroit’s small business, Goldman Sachs program

Subscribe to our Morning 10 newsletter for the local business news you need to know to start your day. Berkshire Hathaway Chairman Warren Buffett speaks at the Goldman Sachs 10,000 Small Business Program graduation ceremony in Detroit in 2014. Thursday, Sept. 18. at the Wayne State University Community Arts Theater. (Image courtesy of State Video Supply)

Goldman Sachs 10,000 Small Businesses

DETROIT, MI — Goldman Sachs CEO Lloyd Blankfein said Thursday that the investment firm has “missed the flames” in Detroit, saying at a small business program graduation ceremony that the city is on the rise.

Blankfein appeared in Detroit with Berkshire Hathaway Chairman Warren Buffett, former New York City Mayor Michael Bloomberg and White House Senior Advisor Valerie Jarrett to congratulate 64 Detroit-area graduates of the Goldman Sachs 10,000 Small Business Program.

“To my dismay, I’m not from Detroit, so I’m the most uncomfortable person in this room right now,” Blankfein said.

Goldman Sachs 10000 Small Businesses Detroit

“… We get by buying low and selling high at Goldman Sachs… I really think we’ve bottomed out right now. Detroit is no longer at the bottom. Detroit is clearly on the rise and you can see that showing the city’s energy. And that’s the result of a lot of wonderful things, starting with people, but also because of good leadership.”

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“New York lost half a million manufacturing jobs in 1975,” Blankfein said. “The police force laid off a third of the officers in New York because of budget constraints. New York had no credit. I’m telling you, the outlook for the future was just terrible. Now it’s hard to imagine…

“Everybody gravitates to Detroit, but I’ll tell you, I’m not sure anybody gravitates to New York at that time, because New York had a certain ego…

“You add time, people, great leadership that we have here in Detroit, and you get New York…Detroit has been there before and Detroit will definitely be there again, and I’m just glad we can be there. ” yourselves, hold fast and be together during the journey.’

Goldman Sachs’ 10,000 Small Business Program awarded $20 million. $100,000 to help Metro Detroit entrepreneurs get training and access to capital.

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Restaurant owners, a sock maker, a pickle company and an animal care company were among those who completed the educational portion of the program and received their diplomas Thursday at Wayne State University’s Community Arts Theater.

Carla Walker-Miller, CEO of Walker-Miller Energy, which supplies LED lights for street repairs in Detroit, said the program taught her how to manage the company’s growth.

She said the company has grown from 28 full-time employees to 40, and revenue is expected to grow from $3.2 million this year. USD up to 5 million USD, and next year – up to 9 million. USD if the development loan is approved.

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Goldman Sachs 10000 Small Businesses Detroit

“We are very proud to provide good paying jobs to the wonderful citizens of the city of Detroit,” she said.

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If you purchase a product or register for an account using one of the links on our site, we may receive compensation. Not the 64 small business owners who graduated Thursday from a Goldman Sachs-backed 10,000 Small Business program aimed at growing businesses. and create jobs in Detroit and surrounding areas by teaching practical business skills.

Not legendary investor Warren Buffett, who interrupted his usual mix of self-deprecation and financial advice to note that Detroit has the makings of a meaningful investment and a solid turnaround.

“It was important for Detroit to wipe clean, and it looks like they’re doing it right,” mortgage impresario Dan Gilbert said at the Detroit Homecoming event. “We would buy a company in Detroit today and we’d be happy to do it. You have thriving home office businesses here” — including Gilbert’s Quicken Loans Inc. empire.

Detroit also has an opportunity, a slogan peddled by the Gilbert machine a few years ago, that is being realized by a confluence of events beyond the control of any entity or individual: the privately funded revitalization of downtown; bankruptcy providing security and discipline; a mayor focused on fixing basic services.

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“It’s real,” Mayor Mike Duggan told more than 150 former Detroiters invited to return for a three-day expo about the city’s investment potential. It wasn’t so much a pitch as a description of what Detroit does, how it does it, and where it’s going.

He’s right. It’s real—thousands of streetlights have been replaced, neglected parks rebuilt, empty lots mowed, abandoned houses destroyed or auctioned off, renovated and returned to the tax rolls. How private investors and would-be investors continue to scheme to pour billions into a supposedly dying city.

Real money for profit looking for housing. Denver-based Triton Properties Inc. buys and rehabilitates downtown apartment buildings. JPMorgan Chase commits $100 million to invest in companies that create jobs in Detroit. Potential investors spurred on by bankruptcy are looking for riskier ventures to diversify portfolios.

Goldman Sachs 10000 Small Businesses Detroit

It was Eli Broad, a Los Angeles philanthropist and entrepreneur who founded two Fortune 500 companies and began building houses in suburban Detroit. And Quintin Primo III, a Detroit native whose Chicago-based Capri Capital Partners invests in the city’s commercial and residential areas.

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Detroit’s Whole Foods’ Make east of Woodward is so successful that the Denver-based luxury grocer is now looking to open a second store in Detroit, co-CEO Walter Robb confirmed, without providing details.

And a homemade mega project is about to start. Christopher Ilitch, CEO of Ilitch Holdings Inc., reiterated plans for the family-owned company’s 45-block, $650 million development.

“We’re getting ready to come back,” Ilitch said in an interview. “It will be

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