In Chicago Tuesday morning, billionaire investor Warren Buffett shared the story of how he paid $1 billion to buy a Chicago area business (the Pampered Chef) started by Doris Christopher with a $3,000 loan from her husband’s insurance policy. He also told of paying $60 million to buy another business launched by a Russian immigrant with $500.
Buffett and Goldman Sachs CEO Lloyd Blankfein joined Mayor Rahm Emanuel at the graduation of the entrepreneurs from the program.
For the past 20 weeks, through the City Colleges of Chicago’s Harold Washington campus, the business owners studied accounting, human resources, negotiation and marketing, among other topics. The program also included one-on-one business consultation and advice from Goldman Sachs professionals.
City Colleges Chancellor Cheryl Hyman said that as a part of the city’s colleges to careers initiative, Harold Washington College will focus on small business, entrepreneurship and professional services training. Full article at Chicago Sun Times