May 21, 2014 at 7:40 AM ET
Jamie Dimon, the CEO of JPMorgan Chase, tells TODAY’s Matt Lauer in an exclusive interview that his company’s $100 million 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.
“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.”
Detroit, the largest U.S. city to seek bankruptcy protection, is $19 billion in debt and currently has an unemployment rate of about 14%, more than double the national average.
May 1, 2014
Alexander Wilkinson had a decision to make. The University Preparatory Academy senior had been accepted at seven universities, and narrowed it down to three: the University of Michigan, Michigan State University and Grand Valley State University. When his teachers encouraged him and 120 fellow classmates to make their decisions earlier this week, Wilkinson wrote down on paper, “the University of Michigan – Ann Arbor.” Today is National College Decision Day