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Kids can win chance to pitch businesses to Buffett

OMAHA, Neb. (AP) -- An online contest is again offering a few young entrepreneurs the chance to present their business ideas to billionaire Warren Buffett.

Students between the ages of 7 and 16 can submit their ideas until Feb. 15. Four individuals and two teams will be flown to Omaha to present their ideas to Buffett in person next May.

Berkshire Hathaway's chairman and CEO says he was impressed with the ideas last year's finalists presented.

The contest, which is sponsored by the Fairholme Foundation, is affiliated with the “Secret Millionaire's Club” cartoon that teaches kids financial principles. Buffett voices the animated version of himself that offers advice in the cartoon.

The grand prize individual and team winners will each receive $5,000 after the ideas are judged. Details are available online at www.smckids.com .

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