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BREAKING news, UWM holiday cheer, IPO updates 📈

By December 8, 2020 No Comments

Breaking News, literally; United Wholesale spreads holiday cheer

BREAKING NEWS, literally! Breakdancing will be an official sport in the 2024 Olympics. Rise&Shred intends to go for the GOLD, who’s with us? Will we be ready? Parachute pants? check. Adidas wings? check. Mesh net T-shirt? Check. Cardboard box? Check. Stop, drop and lock? Check. Let’s do this.

United Wholesale Mortgage is famous for spreading the love. Last year, the company threw a lavish holiday party with tons of high-end gifts. This year, that’s a no-can-do thanks to the pandemic preventing in-person crowds.

But let’s talk about what happened between the two events. CEO Mat Ishbia said his company, which is set to go public in early January on the New York Stock Exchange, did record business in 2020 and is thus doing a record end-of-year giveaway for its workforce, which grew to about 7,300 from about 4,800 during the year.

This year, with more record performance and IPO in hand, Ishbia is kicking it up a notch.

According to the Detriot Free Press, this year's bonuses, gifts and raffle items include:

  • $25 million in employee bonuses for reaching three-year goals set in 2017.

  • A minimum $1,000 in company stock for all employees, with individual amounts based on tenure, for a total $35 million in employee-owned shares.

  • 10 free two-year leases on either a Cadillac Escalade, XT4, XT5 or a Chevrolet Corvette.

  • 100 all-expenses-paid trips to Miami, with lodging at the Fontainebleau Miami Beach hotel.

  • Raffles for free groceries for one year ($500 per month max), a free trip anywhere in the U.S. ($5,000 max), a free home remodel ($8,000 max).

Wow, that’s enough $$$ to make your head spin. Which reminds us, we need to practice our head spin for the 2024 Olympics.


🤣 MEME of the day 🤣

Have a funny meme? Email your favorite meme here for a chance to be featured in our next Rise&Shred.

Mele Kalikimaka is the thing to say if you move to Hawaii

Still, looking for the perfect spot to ride out what we hope is the end phase of the pandemic? You might set your sights on Hawaii.

Under its pilot “Movers & Shakas” program, Hawaii will pay for your airfare on Hawaiian Airlines or Alaska Airlines if you stay at least 30 consecutive days in Oahu. You’ll also be required to volunteer at local nonprofits including Chamber of Commerce Hawaii, Girl Scouts of Hawaiʻi, Hawaii Literacy and KUPU.

Applications for the program opened on Nov. 29 and will close Dec. 15. If you’re among the first 50 people to be approved, the program offers a package of travel and lodging benefits to ease your transition.

If staying in the contiguous US is a priority for your next move there are plenty of other relocation offers being made to attract remote workers.  For instance, you could consider a move to Tulsa and get paid $10,000 under the city’s Tulsa Remote program.

In November, the Northwest Arkansas Council launched the Life Works Here initiative, which offers $10,000 and a new mountain bike to successful applicants who relocate to Benton or Washington County, a picturesque area surrounded by the Ozarks.

And if you are interested in leaving the country, Greece is giving anyone who moves to the country in 2021 a 50% discount on their income taxes for the next seven years. Barbados is offering a one year “Barbados Welcome Stamp” that lets remote workers stay in the island paradise for an extended period. The application process requires an income of at least $50,000 and a $2,000 fee for the visa or $3,000 for a family.

🔥 What 2021 Has In-Store 🔥 

With Adam P. Smith, Jenn Wayboer, & Josh Pitts

Vaccine news props up Airbnb IPO; SoFi said to be readying IPO, too

There’s a lot of concern over US hospital infrastructure as the number of COVID-19 infections continues to rise and the threat of an even greater spike looms with the Christmas holidays just around the corner.

The number of infections though seems to be outweighed by the good news that vaccine delivery is just around the corner and the news seems to have emboldened Airbnb to get more aggressive in its upcoming IPO.

The San Francisco-based home-sharing company is looking to boost its IPO price ahead of its trading debut on Thursday. The price range will now be $56 5o $60, which is higher than the $44 to $50 range that had previously been expected, according to a report from The Wall Street Journal.

The new price would let the company raise up to $3.4 billion in the offering. It would give Airbnb a valuation of $42 billion. That’s more than double the $18 billion the company was valued at during a private fundraising round in the spring when the pandemic shut down global travel and its prospects were uncertain.

Online lending startup Social Finance Inc (SoFi) has reportedly held discussions with blank-check acquisition companies about a deal that would allow it to debut in the stock market, people familiar with the matter said on Monday.

The San Francisco-based company, which was valued at $4.8 billion in a private fundraising round last year, has held talks with a number of so-called special purpose acquisition companies (SPACs), the sources said, cautioning there is no certainty an agreement would be reached.

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