;
  • Report:  #233863

Complaint Review: Quicken Loans - Livonia Michigan

Reported By:
- Livonia, Michigan,
Submitted:
Updated:

Quicken Loans
20555 Victor Parkway Livonia, 48152 Michigan, U.S.A.
Phone:
734-8055000
Web:
N/A
Categories:
Tell us has your experience with this business or person been good? What's this?
http://originatortimes.com/content/templates/standard.aspx?articleid=1096&zoneid=5

I hope you all joined.

Yeah

Livonia, Michigan
U.S.A.


27 Updates & Rebuttals

Brian

Walled Lake,
Michigan,
U.S.A.
Racist DVP Joel? Company Drug Testing?

#2UPDATE Employee

Wed, February 28, 2007

(R) seems to be upset at me. Again, I just wanted to know what action you took in the racist DVP that's still working at the company? and why wont you all do DRUG testing? 2 questions and still no answers. (R) is again an lier and coward who takes up for Quicken. Are you an racist yourself? Do you support people like this? We all never thought that Michael Richards ( who was an great actor)would do such a thing, but he showed his true self with the verbal attacks which is no different then the DVP actions according to past postings on this site. SEE BELOW: A CNN/Opinion Research Corp. poll released in December 2006, stated that ?most Americans, White and Black, see racism as a lingering problem in the United States.? CNN also used as a consultant University of Connecticut professor Jack Dovidio, who has researched racism for 30 years, according to his website. He estimated that approximately 80 percent of White Americans have racist feelings they may not recognize. The survey questioned 328 Blacks and 703 Whites and determined that 84 percent of Blacks and 66 percent of Whites considered racism to be a ?very serious? or ?somewhat serious? problem, and 51 percent of Blacks and 26 percent of Whites claim to have ?been a victim of discrimination.? Percentages were lower when people were asked if they knew anyone who was ?racially biased??only 31 percent of Blacks and 21 percent of Whites said they did. Only 12 percent of Blacks and 13 percent of Whites surveyed further admitted to being racially-biased themselves.


R

Livonia,
Michigan,
U.S.A.
Where on earth do you come up with your logic?

#3UPDATE Employee

Wed, February 28, 2007

Something must be true because you assume it to be true? Something must be false because someone disagrees with your perception? You stopped posting any actual fact or useful commentary long ago, Brian. For an "Employee with Inside Information", you provide a lot of baseless speculation and hearsay. Repeating 'R is a liar!' over and over again hardly makes for a very strong argument. I'm done with this thread until someone on either side of the fence posts with something worth discussing. Good luck to the lot of you with your lawsuit. I'll be interested to see how it continues to unfold.


Brian

Walled Lake,
Michigan,
U.S.A.
Racist DVP Joel? Company Drug Testing?

#4UPDATE Employee

Wed, February 28, 2007

Is it based on truth and in actual fact? We must plum (R)words, because we are not permitted to make judgment on assumptions, to make judgment on "maybe," "ifs" and "what I believe to be the case." Once we assume something to be true, we must not make the judgment on the assumption, but the assumption should lead us to find the actual fact. And based on the actual fact or truth, then we have the rationale to find the solution to the problem at hand, coming out of actual facts.(R) is telling LIES. He's hides from the TRUTH of his evil company. He's a COWARD who will sale his soul for Dan.


Brian

Walled Lake,
Michigan,
U.S.A.
Racist DVP Joel? Company Drug Testing?

#5UPDATE Employee

Tue, February 27, 2007

(R), JUST PAY THE 462 PEOPLE AND STOP POSTING YOUR COVER UP LIE'S. WE ALL KNOW THE TRUTH. I respectfully say to the workers in the WEB CENTER, if you remain silent in an hour like this, then you will deserve the consequences of what DAN GILBERT is about to do. Because when you take part in that which is evil, then the consequence of that evil, you share in that.If we see our leader in error, it is our duty to speak truth to power. We must remember that the deceiver actually has deceived us. (R) is to make manifest this arch deceiver's work against us and to acquaint us with the nature of the arch deceiver?that deceit is part of his very nature. We have been deceived of righteousness, justice and equality by the arch deceiver. This is a coward's action.


R

Livonia,
Michigan,
U.S.A.
Read between what lines?

#6UPDATE Employee

Tue, February 27, 2007

I stated my experiences working within Quicken Loans. Is it possible for you to respond in any method other than to repeat your allegations over and over again while ignoring anything I have said? You sound pretty upset with your time working at Quicken. You feel as though some legal injustice was done. I say go full steam ahead and pursue the lawsuit. It's your right and privledge. Don't act so upset, though, when the folk who work there want to defend the place where they enjoy working and show an opposite side to the picture you present.


R

Livonia,
Michigan,
U.S.A.
Read between what lines?

#7UPDATE Employee

Tue, February 27, 2007

I stated my experiences working within Quicken Loans. Is it possible for you to respond in any method other than to repeat your allegations over and over again while ignoring anything I have said? You sound pretty upset with your time working at Quicken. You feel as though some legal injustice was done. I say go full steam ahead and pursue the lawsuit. It's your right and privledge. Don't act so upset, though, when the folk who work there want to defend the place where they enjoy working and show an opposite side to the picture you present.


R

Livonia,
Michigan,
U.S.A.
Read between what lines?

#8UPDATE Employee

Tue, February 27, 2007

I stated my experiences working within Quicken Loans. Is it possible for you to respond in any method other than to repeat your allegations over and over again while ignoring anything I have said? You sound pretty upset with your time working at Quicken. You feel as though some legal injustice was done. I say go full steam ahead and pursue the lawsuit. It's your right and privledge. Don't act so upset, though, when the folk who work there want to defend the place where they enjoy working and show an opposite side to the picture you present.


R

Livonia,
Michigan,
U.S.A.
Read between what lines?

#9UPDATE Employee

Tue, February 27, 2007

I stated my experiences working within Quicken Loans. Is it possible for you to respond in any method other than to repeat your allegations over and over again while ignoring anything I have said? You sound pretty upset with your time working at Quicken. You feel as though some legal injustice was done. I say go full steam ahead and pursue the lawsuit. It's your right and privledge. Don't act so upset, though, when the folk who work there want to defend the place where they enjoy working and show an opposite side to the picture you present.


Brian

Walled Lake,
Michigan,
U.S.A.
Racist DVP Joel? Company Drug Testing?

#10UPDATE Employee

Mon, February 26, 2007

You can't even give us an answer to these 2 simple questions without putting a spin on it. Keep drinking the Kool-Aid, follow your leader Dan (Jim Jones). You already have 462 people that you refuse to pay. Hell is waiting for you. Only God knows the truth, and your not higher than God. Customers can read between the lines when it comes to your lies. WARNING TO CUSTOMERS: AS YOU CAN SEE FROM THESE POSTINGS, THIS IS NOT AN PLACE TO DO BUSINESS IF YOU BELIEVE IN EQUALITY FOR ALL PEOPLE REGARDLESS IF THEY ARE OF COLOR, AND AN COMPANY WHO SUPPORTS DRUG USE AMONG IT'S STAFF. YOU WILL ALSO NOT GET BACK YOUR $500 DEPOSIT, IT'S A COMPANY WIDE PRACTICE TO NOT RETURN THE DEPOSIT. This is my last posting. Peace to all of you who truly believe in doing the right thing. PS: How can an man sleep at night knowing that he owes 462 people pay for overtime hours worked? He also has enough money to support an third world country, but to him - it's not enough - he needs more and will do anything to keep it or get it. I hope you all get your overtime pay, after all you've only helped the man become an Billionare.


R

Livonia,
Michigan,
U.S.A.
I've had better things to do

#11UPDATE Employee

Sun, February 25, 2007

Sorry I've been too busy to reply. I've had one of my better weeks of obtaining new business and helping my past clients out. I don't generally respond to the claims of racism because they are so over the top and outrageous that they hardly seem worth mentioning. If you insist, though... I work for the very DVP you keep mentioning. In that same group of bankers, some of the most successful of the bunch are minorities. Three of my closest friends within the division are minorities and I've never heard them whisper a single note of complaint, even away from the office. Workplace diversity is oftentimes a strength, and I've not been around as much variety in personality and overall background in my daily environment since living at Michigan State University. Also, why do you keep harping about drug use? You sound like someone who enjoys gossip around the water cooler entirely too much. You paint with an awfully broad paintbrush when it sounds like you're bursting with excitement sling some mud about a handful of rumors.


Brian

Walled Lake,
Michigan,
U.S.A.
Racist DVP Joel? Company Drug Testing?

#12UPDATE Employee

Wed, February 21, 2007

To R: You never did answer us about why you all never fired the racist DVP Joel who was clearly the leader in charge of Byron's bosses? You guy's took quick action to sue him, but did you do anything about the e-mails from his bosses? I've read all of his past postings and have enjoyed them because he told it like it really is here at Quicken, but I wanted to know your reason for still having someone in your company with such an high up title who is yet seen by people as being an racist. It seems if you keep him there then you are saying that you support his views and could careless that someone who is in charge of maybe 150 people still work here at Quicken in an leadership spot. WHY WOULD AN COMPANY LOOK THE OTHER WAY? I can't understand why someone would post all the things he said if it wasn't true? Also, again I know of a ton of people who use drugs and even being high while working on the phone. WE NEED DRUG TESTING - STARTING WITH THE DVP's FIRST! Why don't the best place to work at in Michigan do drug testing? Wouldn't that lower your insurance cost anyway?


NKA.com

LIVONIA,
Michigan,
U.S.A.
Ch.2 News on the Quicken Overtime Law Suit??

#13UPDATE EX-employee responds

Tue, February 20, 2007

Brian, You said that Ch. 2 is going to have a story on the Quicken Loans Overtime Law Suit? Please provide more information - I checked out the channel 2 website and could not find anything. Where did you find this info at? When will the story be ran? Thanks for the info. ____________________________________ After working for Quicken Loans for the many many years I did, I find it amazing that the same things are happening lately that were happening years ago! Does anyone know: Are the bankers still being forced to work 70+ hours a week? Do they still let everyone know late on Friday that you HAVE to work the next day (Saturday) or Sunday?? I USED to hate when they pulled that.


Steve

Corona,
California,
U.S.A.
Keep it up!

#14Consumer Suggestion

Tue, February 20, 2007

I love that you Quicken guys keep this little battle at the forefront. I am a mortgage broker who buys leads from many of the same sources that Quicken does. When someone unsuspecting homeowner tells me that they are considering a "great" offer from Quicken, I send them a link to all your squabbles here at ROR and ask them if they really want to do business with a company like this? And by the way, "Mr. Borrower, do you realize your Quicken "deposit" will never be seen again if you choose to close with another lender?" We have a $1,000 best Rate Guarantee that is sent to every prospect along with a letter that promises them that we will release the appraisal in the event we can not match another bonafide loan approval. I love competing against Quicken. After the borrowers see what you are REALLY going to charge them, they call me back and say, "Well, I guess you were right, Steve. What do we have to do to get started?" So, thank you to all you Quicken morons, past and present for keeping these Quicken threads alive.


Brian

Walled Lake,
Michigan,
U.S.A.
Walk Away?

#15UPDATE Employee

Tue, February 20, 2007

How can you with the non-compete cause hanging over ones head? I hear you all have sued a ton of people for this contract that's never disclosed when hired in. Also, why didn't you fire the racist DVP? And why don't you guy's do DRUG testing? I bet Drug testing would force you to cut your staff in half? LOL. You guy's are so full it. R keeps coming back with these sales talk, as if he's going for the close on an client. Get over it and pay the 462 people who are pissed off at you.


R

Livonia,
Michigan,
U.S.A.
It's called at-will employment

#16UPDATE Employee

Tue, February 20, 2007

Personally, no, I have never felt compelled to stay beyond reasonable hours. Of course there is going to be pressure to perform. That is why it is a commission job. Do I want to stick around on the aforementioned kind of day? No. But if I risk not collecting a commission check because I left early? You bet I'll be there. You say you felt forced to stick around. Again, walk away. Michigan is an at-will employment state. If you don't like the conditions of where you work, you are always completely free to walk away without any negative financial consequences. Many do, hence the high rate of turnover. Others thrive in the environment.


Brian

Walled Lake,
Michigan,
U.S.A.
DVP? & Drug Testing?

#17UPDATE Employee

Mon, February 19, 2007

Hi R, You didn't address the reason for not getting rid of the racist DVP Joel (Byron's Boss) - I mean looking at what he posted, I can't understand how an company would let people stay and be in leadership,and why your great company wont do DRUG testing? That DVP should have handle his request a lot better. I've heard other Black people in his division say things about him treating them a certain way. I know of a few higher ups who snort coke and smoke J's. (I can give you names) We're waiting on an answer form you. Why do you all cover up for the higher up's? I assume the bankers come an dime a dozen. You can't just hire until their no ends, which makes it easy to replace the banker. PS I bet he hides from this and I didn't even use offensive tones. I also can't believe you would do that to someone with a baby than again I can because I see it here everyday.Books and Folders is more important than giving someone time off for illness? You guy's are too much.LOL. PSS I hear that Ch.2 News is going to talk about the Quicken Overtime Law Suit on an small news clip this week. Great for Detroit to know.


Yeah

Livonia,
Michigan,
U.S.A.
why NKA has so many cases, it's because all of these lenders REQUIRE that their employees work late

#18Author of original report

Mon, February 19, 2007

I'll tell you why NKA has so many cases, it's because all of these lenders REQUIRE that their employees work late. On more than 100 occasions in 3 years (about once a week) I would have written multiple loans and received multiple folders back and yet I was NOT ALLOWED TO LEAVE because my team had not reached it's daily goal. Even if I had written 7 or 8 loans I couldn't leave at 7:00 even though we were scheduled to work until 7:00. Be honest, if it's 80 degrees, sunny, the last day of the month and you have written 30-50 loans that month - can you leave at 6:00 to go golfing? Worse, take Byron - his wife had JUST HAD A BABY and he is required to get back to work. Is this just? You are REQUIRED to be at work after your scheduled time, shouldn't you get paid for it? "100 calls and 5 hours of phone time" - ever hear that? "Your not leaving until you get a deal." "Call your wives and kids and tell them you're going to be late." "I don't care what your plans are, we're working Saturday." For the first 18 months I worked there our schedule was either 8-7, 9-8 or noon until 10:00. How do you feel about writing half the deals you used to? Do you honestly think that Dan, Jay or Bill care? They just keep hiring as many people as they can. But hey, you get free slushies.


R

Livonia,
Michigan,
U.S.A.
Again, your attacks continue to be personal and inflamitory

#19UPDATE Employee

Mon, February 19, 2007

If you're so miserable there, an employee as you claim, why do you stay? If you are unhappy with the work, walk away. Working a salary job very rarely means a forty hour work week and out. It just does not happen. Most of my family is in accounting or marketing with salaried positions and I can't remember any of them regularly working forty hours and no more. Another point you fail to bring up is how, if a goal is not hit, you receive zero pay. This is not correct. There is still a base salary. It isn't enough to maintain an affluent lifestyle, but it's at least enough to live on if you're sinlge, or enough to help maintain a family in a two income household. As for picking on someone like Byron, he was the one who insisted on posting internal communications from the company. There isn't a company in the world that would tolerate such behavior. You single out Quicken as such a tyrannical group when they simply follow their corporate rights like any other business. If everyone in Quicken is getting cheated, why do so many people stick around? I won't deny a relatively high rate of turnover but I, and many others, have found we enjoy the work and feel as though we're being fairly compensated. If you don't feel that is the case, walk away and move on with your life. You are/were the one who chose to sign up and stick around knowing the pay structure.


Brian

Walled Lake,
Michigan,
U.S.A.
To R-Livonia

#20UPDATE Employee

Sun, February 18, 2007

Pay the people and stop blowing smoke up everyones a** by telling them this Bull S*** above. You stupid fools(Quicken's Management) should know that you can't pay people salary along with an commission and then act as if their exempt from working an FORCED 70 to 80 hours a week. Oh, and by the way, if you don't close 9 loans, you keep the commission making yourself millions. Everyone in that place is getting cheated - the peanuts they make off an loan is nothing to what you get. Stop picking on people like Byron. Why did you sue him? You should have listen to him and got rid of the racist DVP who he worked under. I can't believe you would have idoits who would send someone e-mails like that. I believe his e-mails is the reason why most of us joined. Most of us have e-mails that show the intent that we simply don't have an choice when it comes to staying late, going the extra mile for the team - for FREE HOURS with NO PAY for it. PS: You all should do DRUG testing on everyone in that place. Why not?


R

Livonia,
Michigan,
U.S.A.
Why so personal?

#21UPDATE Employee

Sun, February 18, 2007

Keep up the personal attacks. They do a great job of articulating your arguments in a manner where folks will sympathize with you. It has been more than three meetings in three years. Heck, it's been more than three meetings in the last year. At no point did I feel as though if I asked questions or even felt justified in joining that I would be ostracized or penalized, either. Why do you feel so threatened by a Quicken banker coming out and stating why he enjoys working at Quicken or when he points out some of what the company has done to keep its employees informed? In any of my rebuttals through this site, I've given my personal opinions and observations from my experiences with the company. At no point have I personally attacked anyone or done anything but refute inaccuracies or give a second opinion. You have your lawsuit, which is proceeding along. You also seem intent on negatively scrutinizing any legal defense Quicken Loans has put up. I'm sorry the proceedings are not moving as quickly along as you would like, but were the situation reversed, you, too, might choose to fight every step of the way rather than settle a law suit. On a final note, if your case is so strong and Quicken Loans so completely in the wrong, how is it NKA has so many lawsuits against other major lending institutions for the same reasons? Is the entire industry wrong in how they compensate their employees? For those of you who have moved on to other lending companies, can you honestly say that you work for lenders that compensate you for overtime, or are you planning on suing them, as well, for a commision-based structure? Find me a commission-based job, or any salary-based job for that matter, that pays overtime. I can think of thousands upon thousands of folks in various business world occupations who receive zero overtime compensation. I see no reason why you deserve special consideration.


Brian

Walled Lake,
Michigan,
U.S.A.
QL & R

#22UPDATE Employee

Sat, February 17, 2007

You must think we're fools to believe that you all helped 462 people sign up in an law suit to help sue your own company? You all have spent millions in paying Atty, legal cost, and time to defend yourself? But, you encourage and informed all your people that hey, someone is sueing me - here's the info go sign up and join. ALL LIE'S. YOU ALL NEED TO PAY THESE PEOPLE AND BE DONE WITH IT. These people have worked their a**** off for your company and all you can do is send an rebuttle saying that you helped people join the suit. LOL! LOL! PS I need to get my team back on the phones to close some deals so that I can keep up the wig I wear to hide my baldness, this rug is not cheap. I need to take an lunch break (to smoke an joint in the car) which is how we do it at the Q.


Yeah

Livonia,
Michigan,
U.S.A.
Transparent?

#23Author of original report

Sat, February 17, 2007

Wow! 3 whole meetings in 3 years? You must really be in the know. So next year when you have your next meeting ask these questions: If you KNOW that you are right, why are you fighting EVERY step of the way? Why not just let it go to court? Why are you hiding the email server? Could it be that there is an awful lot that you don'twant people to see? Why'd you sue Byron when all he was doing was printing ACTUAL emails from his boss? Ask them why 85% of past employees are a part of the lawsuit? Ask him how in the world can they MAKE you work until 9 or 10:00 at night but at the same time only pay you if you close 9 loans. Ask your coworkers how happy they are closing HALF the loans they used to because they are cutting lead buying yet they keep hiring more dumb kids to read their script.


R

Livonia,
Michigan,
U.S.A.
QL Transparency

#24UPDATE Employee

Wed, February 14, 2007

What a lot of the folks who hopped on the NKA bandwagon haven't said is how many of us who work at Quicken wouldn't even know about the lawsuit had they not brought it to our attention. I know the first time I heard about it a little over a year ago, I was surpised they were telling us all the details; why the lawsuit came about, what Quicken's point of view in the case came to and why they felt they ought to fight as vigorously as they have. Further, not only were we informed about the lawsuit, they even gave us specific instructions on how to find information from the plaintiff side in order to join, if we saw fit. After that initial meeting, we had two more meetings mostly regarding major updates to the case and to bring any other new bankers up to speed on what the lawsuit was about. For a company 'running scared' according to some of the comments on here, Quicken sure does seem to do a good job of letting their bankers know what is going on and being transparent.


Brian

Walled Lake,
Michigan,
U.S.A.
462 LO's Sueing Quicken & Dan Gilbert

#25UPDATE Employee

Thu, February 08, 2007

I can't understand an man who would rather pay his high price ATTY's millions as oppose to paying people who have made him an Billionare. In other words, he uses the poor souls, who slave in his Sweat -Shop, Forced to work FREE HOURS without pay, and then walks around acting as if 462 people are wrong for sueing him. And they even sometimes don't pay people their commissions. I wonder why the News hasen't got an hold to this story? What would people think of him and his company? How about the IRS? They have been cheated in the Billions for all the tax dollars they have missed out on. I say all 462 people need to DEMAND that the IRS looks into this matter. You all should write the News Media, IRS and anyone who will listen. Quicken is built on lie's. Check out his ISM's: Do the right thing. - Now, who at Quicken is doing the right thing? Bankers are forced to lie to clients, take people deposits, bait and switch etc. You need to pay us Dan. I'm going to make sure that all local news stations know about you. Let see what the people here in Detroit think? Dan Gilbert spends more money paying ATTY's to defend his Sweat Shop Business than doing the right thing. Do the right thing Danny and pay the 462 poeple who you've used - you even still have people working for you, but they have FEAR to join the suit because you will black mail them and fire them. Remeber the meeting a few years ago when this suit came about, you stood up in front of everyone telling them "If you join the class action suit against us, we will know" Your action was not legal.


Former

Ann Arbor,
Michigan,
U.S.A.
How much interest has Dan/Quicken made on our money?

#26Consumer Suggestion

Sun, February 04, 2007

How much money has Dan made investing our hard earned money? We should be entitled to interest on the overtime we're owed. Or at least all be classified as partial owners of the Cavs and Lebron. Can't wait to see how Quicken tries to spin the lawsuit results. Insanely enough, I bet it will still be listed as "one of the best places to work". Yeah right, working there is like working with a gun to your head 24/7 where your paycheck is pillaged by the higher ups constantly. Can't wait for the settlement.


Brian

Walled Lake,
Michigan,
U.S.A.
Update On O/T Case

#27UPDATE Employee

Sat, February 03, 2007

A total of 462 Plaintiffs sueing Quicken & Dan "The Man" Gilbert. Also, on Jan.17,2007 we had a hearing with the Magistrate Judge assigned to the case. The Judge ordered QL to produce to us over 91,000 emails for nine individuals, including Jay F. and Mark M. The production of these emails is just the beginning. The judge also ordered QL to allow our computer forensics expert to have access to Quicken's computer system to determine the most efficient method for obtaining even more emails. We believe these emails are critical to the case because these emails have great evidence regarding your job duties, work hours, the Sales Process, and sales culture. It was a long long battle to get these emails but we are confident that the time and effort we put into obtaining them will be well worth it. Jay, How are you going to get us out of this one? I love my job here Jay. I wouldn't be able to make it in the real world where I would have to create my own leads etc. I can never make in the real mortgage world, that's why I've worked for you all for so long. I've been with you for almost 8 years now. I love being an top Refi Monkey. I've even bought myself Hair when joining your company. I just got my own team after begging, even getting under your desk at night to get my own team - hey I did it. It's not what you know, it's who you blow. (That's the Quicken way to getting to the top) I love you Jay. Get us thru this maddness and just go ahead and pay these 462 people. I've always wanted to be like you Jay when I grow up.


NKA.com

LIVONIA,
Michigan,
U.S.A.
They have the money, so they better pay! They OWE US!

#28UPDATE EX-employee responds

Fri, February 02, 2007

We earned the money. How come the IRS doesnt come down on them and make them pay us AND them?? Amazing, I wish I could hold a few hundred peoples pay and then go out and BUY an NBA team with their money... and get lawyers to fight them for their money. OH WAIT, NO I WOULDN'T THAT IS NOT ONLY NOT LEGAL (OR SHOULDN'T BE) IT IS ALSO IMMORAL. Oh, yeah, I am talking about Quicken. They are above the law and have few morals. At least they hired the Black Eyed Peas with my/our money. They must be a GREAT PLACE TO WORK! _________________________________________ The 400 Richest Americans #354 Daniel Gilbert 09.21.06, 10:00 AM ET Courtesy of Camelot Ventures Net Worth $1.1 billion Source Finance, Self made Age 44 Marital Status Married, 5 children Hometown Livonia, MI, United States Education Michigan State University Wayne State University, LLB Started small mortgage company in 1985 with $5,000 made delivering pizzas in college. Sold to Intuit for $532 million in 1999; bought it back 3 years later for $64 million. Early Internet embracer turned Quicken Loans into nation's largest online mortgage company. Closed $16 billion in loans in 2005. Sports fanatic: purchased NBA's Cleveland Cavaliers for $375 million; resigned star LeBron James to 3-year, $60 million contract. Plays pickup basketball, attempting to break Michigan's steroid-free bench-press weightlifting record. Recently bought $32 million stake in Eprize.com, which runs online promotions for clients like Coca-Cola and Disney.

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