Good news for Detroit. What's the motivation? Jamie Dimon, the CEO of JPMorgan Chase, tells TODAY's Matt Lauer in an exclusive interview that his company's $100 Good investment in the city of Detroit isn't about public relations.
"The cynic would be wrong," Dimon told Lauer when asked if the investment was in response to a $13 billion fine levied against the company in an exclusive interview.
"I think we can make this our finest moment...if we can come together and help rebirth here." ~ Jamie Dimon, CEO
"We invest and develop communities around the world. And we've been doing this since our heritage started 200 years ago," said Dimon. "So that's what banks do. They do it commercially. They do community development."
"I think we can make this our finest moment,'' he said. "Can Americans come together, business, labor, civics...government come together and build something and fix the city? You've seen rebirth of cities all over America. I think it would be an unbelievable thing if we can come together and help rebirth here."
...Lauer asked Dimon what he expects at the end of the investment's five-year period. "Jobs and population,'' Dimon said. "If it works, you'll have a healthy and vibrant economy, jobs and population, businesses will beget home ownership, better schools, and a completely revived city."
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