Business & Tech
Warren Buffett: I'd Base a Company in Detroit
The billionaire head of Berkshire Hathaway also said the city's bankruptcy could be a positive.
Billionaire Warren Buffett said Thursday he could envision the investment firm he runs to buy a Detroit-based company during the Detroit Homecoming conference, the Detroit Free Press reports.
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Buffett, who runs the Berkshire Hathaway investment firm and is considered to be the Yoda of the financial set, also said he thought Detroit officials were handling the city’s current Chapter 9 bankruptcy correctly, the report said.
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“As long as the bankruptcy is handled fairly quickly, bankruptcy is fine,” he told Quicken Loans chairman Dan Gilbert, who interviewed Buffett onstage for an hour. “That’s how you clean the slate.”
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