Billionaire Warren Buffett is spending his day listening to business pitches from a select group of kids, but the ideas aren't likely to generate new acquisitions for Buffett's Berkshire Hathaway conglomerate.

The kids, who are between 7 and 16 years old, are finalists in a contest tied to "The Secret Millionaire's Club," a cartoon narrated by Buffett that teaches kids about finance. The cartoon airs on the Hub cable network and online at www.smckids.com .

Five kids and three teams were flown to Omaha to present their ideas to Buffett and the judges. The finalists are from Maryland, Maine, Texas, New Jersey, Ohio, Kentucky and Washington.

The winning individual and team each receive $5,000. Runners-up get $500.

The Fairholme Foundation sponsors the contest, and By Kids For Kids oversees it.