06/07/23

This week OBL had the opportunity to attend the Ohio Chamber of Commerce State of Business Summit which featured a fireside chat with Bill Emmerson, Vice Chairman of Rock Holdings and Interim CEO of Rocket Mortgage. During the fireside chat with Chamber President and CEO, Steve Stivers, Mr. Emmerson highlighted the challenges Ohio is facing in its housing stock. Emmerson said that focusing on the creation of new rental housing is just one piece of the puzzle. Citing Detroit as an example, where the appraisal value and market value of homes often create a situation where the homeowner pays more to make repairs to the home than the appraisal value. In scenarios like Emmerson is seeing in Detroit, he says that not only is creation necessary, but refurbishing the existing housing stock is key to facing the housing challenges we are facing.

On the topic of regulation Emmerson encouraged businesses to step up and advocate how regulations should work, and if the pitch is no regulation, then that’s when you lose people. Emmerson remarked over the course of the chat about the importance of advocating for your industry and role your business should play in shaping smarter regulation.

Emmerson also spoke about the importance of culture in the workplace. In these times of work from home becoming more prevalent, culture is the main driver of an organization, and organizations must be intentional about the culture you create. Emmerson stressed that when you do not create a culture within your organization, one will create itself.

One of the final topics of discussion surrounded technology and the importance of evolving with new technologies and landscapes. Emmerson emphasized that if you’re not playing with the current technology advancements then you are falling behind. This is especially important in the world of Artificial Intelligence and ChatGPT that we find ourselves in today.