Why are so many media types crying foul over a Hummer driven by an 18-year-old high school senior?
Hummmmmm.
Oh yes, we forgot to mention: the teenager is named LeBron James, which raises the scrutiny level another decible for a protege athlete living in a glass house. James turned 18 on December 30. Within two weeks, the 6-foot-7 basketball player was driving a new Hummer H2, which includes three TV sets, valued at an estimated $50,000.
With inquiring minds wanting to know, media types were raising questions about the new wheels and who
purchased the vehicle for America's best known amateur high school athlete. Surprise, surprise.
The answer to the $50,000 question was James' mother, Gloria, who obtained a bank loan for the purchase. No shady agents, personal 'mentors' or behind-the-scenes advisors needed in this transation.
James, himself, could walk into any automobile dealership today and depart with any vehicle he chooses.
What bank, or dealership, isn't going to extend credit to a person who's going to be worth several million
dollars within a few months?
Once James completes his high school tenure, he will be offered a multi-million dollar contract by a shoe company and be drafted, probably No. 1, by the NBA. Published estimates to the sudden boost to James' bank account: over $30 million. No Hummer costs that much.
A bank loaning money to James and his family is smart business and any financial insitution would want to make such a loan to James or his mother. And maybe even get some repeat future business.
But, because James has become so high-profile in media circles, his every action on and off the
basketball court is placed under a microscope.
Parents of high school students -- including numerous student-athletes -- have purchased cars for their children for years. If you don't believe that, check out the parking lots for a high school in your
neighborhood. At many schools, you might agree with a coach who once told us, "the kids drive better cars than we do."
What's the difference between LeBron's mother getting a loan and buying a car for him and some rich millionaire in Beverly Hills buying a BMW for his daughter on her 18th birthday?
No, many of the teenagers don't drive $50,000 Hummers, but many of the students don't have the athletic
talents possessed by James, which will make he and his family very rich, very soon.
So why the media outrage over such a situation? For one thing, it's probably the timing. If Gloria James would have waited a few months to buy the car, or until the St. Vincent-St. Mary basketball season ends for the Akron, Ohio, high school, there would be less concern over the situation.
But LeBron James and his Irish teammates are in the middle of the basketball season, which has taken his high school team coast-to-coast to showcase the talents of the No. 1 high school player -- and now the top-ranked team -- to the nation.
Two of the games already have been televised nationally by ESPN, with more to come, and local games
are offered on a pay-per-view television hookup. Tickets for many of the games, some played before
sold-out crowds, cost between $12-50. James' high school is reaping financial benefits -- reportedlly $15,000 a game -- this season. The team travels to many events via expense-paid airfare and stays in nice hotels at no cost. Event promoters, local cable and national television networks, and others are profiting. Everybody is making money, it seems, except the athletic centerpiece -- LeBron James,
an amateur athlete. What's wrong with this picture?
Why shouldn't his mother take out a loan and buy him a car? It happens all the time without as much as a
suggestion of something improper.
But, we're talking LeBron James here, who will earn more money in the next year than the majority of
Americans do in their lifetime. He will have a lot of adult decisions to make in the next few years, but one will be of minor concern -- how to repay the bank loan for the Hummer.
Hummmmmmm.