Bryson DeChambeau, Rickie Fowler visit Detroit as Rocket Mortgage Classic announces extension through 2027
DETROIT – The Rocket Mortgage Classic is sticking around and as both the PGA TOUR and Rocket Mortgage announced an extension of the title sponsorship for the event through 2027. “I think that’s a huge deal for us,” DeChambeau said. “The golf course is an unbelievable test of golf,” DeChambeau said. So, it’s fun and part of it is we get to play a golf tournament, so it’s not all that bad. In 2021, the RMC also celebrated the inaugural John Shippen golf tournament at the Detroit Golf Club, a tournament directed at spotlighting black men and women in the sport.mlive.com
Rocket Pro TPO to sponsor first all-female team’s car at Indianapolis 500
Rocket Mortgage to sponsor all female team with Detroit ties at the Indy 500DETROIT – Rocket Mortgage will be sponsoring Simona D Silvestro’s No. Rocket Pro TPO, the division of Detroit-based Rocket Mortgage which works exclusively with independent mortgage brokers, will serve as the primary sponsor of the No. Paretta Autosport said Rocket Pro TPO will be front-and-center with dominant branding on the car, firesuit and crew suits. “Having Rocket Pro TPO come onboard as our primary sponsor for this year’s Indy 500 is a perfect partnership,” said Beth Paretta, CEO/team principal of Paretta Autosport. Owner Beth Paretta lives in the Detroit area while her Paretta Autosport has a technical alliance with Team Penske.
Rocket sees GameStop-like rally, but its business prospects are better
3—Rocket Companies Inc. this week is being targeted by Reddit day traders who drove up the cost of shares in GameStop Corp. But unlike the beleaguered video game retail chain, experts say the online mortgage lender’s underlying business fundamentals are much stronger. On Tuesday, shares in the Detroit-based parent company of billionaire Dan Gilbert’s Rocket Mortgage closed up 71% to $41.60. It deserves to be priced on its prospects.”Investors have sold short 49.7 million Rocket shares, according to S3 Partners. “It’s making the stock market more casino-like,” Ritter said of the meme stocks, “which is not good for companies that are raising capital or that use the stock market to raise capital.mlive.com
17 finalists compete for $1 million in Detroit Demo Day
DETROIT – The fourth Rocket Mortgage Detroit Demo Day is doing something a little different this year to help small businesses thrive in the pandemic. The 17 finalists have been announced for Rocket Mortgage Detroit Demo Day. For the last 3 years, Rocket Mortgage Demo Day has awarded hundreds of thousands of dollars to local small businesses with big plans to expand and make a difference. “Rocket Mortgage Detroit Demo Day is an annual event where we showcase Detroit’s best and brightest entrepreneurs and give them the chance to compete for a million dollars,” said James Chapman. More information can be found on the official Rocket Mortgage Detroit Demo Day website here.
Quicken Loans IPO gets lukewarm reception
DETROIT – The much talked about Rocket Mortgage initial public offering took flight Thursday and the launch was not as bright as initially intended. ORIGINAL STORY: Quicken Loans IPO debuts at $18 a share, below expectationsRocket founder Dan Gilbert and CEO Jay Farner kicked off the trading day before going on CNBC to discuss the merger in Gilbert’s first national television appearance since his stroke. “We think we are a tech company that happens to do loans. “We’re up to 2,500 technologies to build what you experience.”RELATED: What does Quicken Loans plan to go public mean for city of Detroit? The stock started out at $18 a share and investors bid it up to just under $21 by the close.
Quicken Loans IPO debuts at $18 a share, below expectations
DETROIT – Detroit-based Quicken Loans debuted their IPO on the New York Stock Exchange on Thursday with a lower-than-expected opening share price of $18. Rocket Cos., the parent company of Quicken Loans, will offer public shares for the first time this week, but it will be smaller than originally reported. Quicken Loans quickly grew from a start-up to one of Detroit’s largest employers. 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 could mean a lot for the city of Detroit.
LIVE STREAM: Detroit mayor to discuss eviction assistance resources
DETROIT – Detroit Mayor Mike Duggan will hold a news briefing at 2 p.m. on Wednesday to discuss helpful resources available to Detroiters facing evictions. You can watch the briefing live in the video player above at 2 p.m.Duggan is expected to share details regarding a citywide memorial intended to acknowledge individuals impacted by COVID-19 amid the coronavirus pandemic. READ: Coronavirus in Michigan: Here’s what to know July 15, 2020The mayor is also expected to announce a $1.4 million investment into Connect 313, which will support digital inclusion programs. MORE: Local News
Quicken Loans files paperwork for initial public offering under name ‘Rocket Companies’
Quicken Loans quickly grew from a start-up to one of Detroit’s largest employers. What does its plan to go public mean for the city of Detroit? It appears that’s about to change because in an initial public offering, at some point people will be able to buy partial ownership -- shares of stock in Quicken Loans. 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 could mean a lot for the city of Detroit.
Bryson DeChambeau wins Rocket Mortgage Classic by 3 shots
DETROIT Bryson DeChambeau got the result he was looking for from transforming his body. With jaw-dropping drives and some clutch putts, DeChambeau won the Rocket Mortgage Classic by three strokes Sunday for his first victory of the season and sixth overall. DeChambeau shot a 7-under 65 at Detroit Golf Club, birdieing four of the first seven holes and closing with three straight. 16, a short putt for birdie on the next hole and uncorked a 367-yard drive to set up another short putt at 18. On Saturday, DeChambeau had a testy exchange with a TV cameraman after a bogey on the sixth hole.
New initiative to provide digital access to all Detroiters within next 5 years
DETROIT Rocket Mortgage by Quicken Loans announced Wednesday a new initiative to provide digital access to every Detroiter within the next five years. Rocket Mortgage Classic and Rocket Mortgages new Changing the Course initiative aims to provide Detroiters access to the internet, technology and digital literacy training that is the baseline for education and opportunity in todays economy.Officials say as the coronavirus (COVID-19) pandemic overtook Detroit, it unveiled unaddressed, underlying problems facing the city -- with internet access among the most prominent. Detroiters deserve better.Officials say among U.S. cities with more than 100,000 households, Detroit already ranks as the least connected in the country. The Rocket Giving Fund will specifically invest in organizations and infrastructure that will make 5G internet technology available across Detroit, officials say. You can read the full announcement from Rocket Mortgage by Quicken Loans here.