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Goldman Sachs Graduates Celebrate In New Orleans

Written by Ken Gaebler
Published: 6/7/2011

Warren Buffett spoke at the graduation ceremony for students of the Goldman Sachs 10,000 Small Business Program.

Graduates of the inaugural Goldman Sachs 10,000 Small Businesses Program celebrated during a ceremony in New Orleans, Louisiana, yesterday, in which 30 entrepreneurs received praise for the completion of their studies.

New Orleans Goldman Sachs

Through a sponsorship from the global investment banking firm, students completed 100 hours of training on the campus of Delgado Community College in New Orleans. During the program - which launched in November - students studied accounting, human resources, marketing, entrepreneur news and negotiations, New Orleans CityBusiness reports. They also received legal and accounting advice from Sach employees.

Billionaire investor Warren Buffett was on hand for the ceremony, and provided some encouraging words for the young businessmen and women.

"I expect the 30 people who are already doing things well - with the benefit they get from some funding, some instruction, some mentorship - to do even better in the future,'' Buffett said, quoted by The Times Picayune.

The Times adds that Sachs also pledged $20 million in loans to New Orleans-area small businesses as part of an effort to distribute $500 million to companies across the country that are struggling due to the recession and ongoing housing crisis. The loans target small firms operating in economically underserved areas that face difficulty acquiring capital through traditional means.

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