5:30 PM, November 25, 2013
The Oracle of Omaha Warren Buffett and Goldman Sachs CEO Lloyd Blankfein (click here) will be at Ford Field on Tuesday to announce a partnership that will add Detroit to a national funding program designed to spur small business growth.
Goldman Sachs started the $500 million program, called “10,000 Small Businesses,” and has been adding cities to its roster. Small business owners with at least four employees and $150,000 in revenue can apply to be a part of the program, which is designed to provide them with greater access to business education, financial capital and business support services.
More details will be released Tuesday at 10:15 a.m. The press conference will be carried live at freep.com....
The primary problem with Detroit is square miles and the implosion of the auto industry with a shrinking tax base. The city income didn't provide for the ungainly size of the city with residents living at all corners without the benefit of local economies within their neighborhoods. The downtown had to support the costs of the entire city.
The most sustainable recovery in Detroit will be best served to consolidate success from the downtown and expand from there rebuilding city services and schools. If it is done right, Detroit will be back unlike they ever imagined.
