What does Quicken Loans plan to go public mean for city of Detroit?
DETROIT Quicken Loans quickly grew from a start-up to one of Detroits largest employers. Now that theres talk about the company planning to go public, what does that mean for the city of Detroit? Gilbert is already worth roughly $7 billion, but his wealth could expand more with the move to make Quicken Loans public. Investment banker Sheldon Stone, of Amherst Partners, said a Quicken Loans initial public offering coul mean a lot for the city of Detroit. If they add people and infrastructure and add jobs, it could be a beautiful thing for Detroit, Stone said.