Business fisted Living In A Homelike Settin COURTYARD MANOR aggressive marketing and the latest tech- nology. We advertised mainly on the back cover of a throw-away publication called 'Homes,' and we received a lot of referrals. We closed only 50 loans in out first year, for $6 million worth of busi- ness. We close almost 10,000 loans a 3/ month now. Rock then moved to an office building on Telegraph Road, and opened 30 branches in the Midwest. It quickly out- grew the Telegraph building and moved to Livonia, eventually sclling back to branch offices only in Farmington Hills and Auburn Hills. The branches retain the Rock name today. "To make sure our employees spend as much time as possible in the office, sell- ing, we often have caterers bring in lunch and dinner food," said Gilbert, and, during extremely busy times, we put people up at nearby hotels to avoid wasted commuting time. We now spend about $50,000 monthly on these ameni- ties." The current Quicken salespeople, divided into teams with catchy names and slogans, benefit from sales incentive contests, with the top sellers winning trips to Las Vegas and Florida, and local "nights on the town. Employees get a $1,000 bonus if they recruit a salesperson who stays with the firm at least 90 days. To also help sign up promising salespeople, Quicken execu- tives distribute cards to restaurant wait- ers, sales clerks and others, saying: "Your service caught my eye. You should work for a world-class company. The company last year was named "Metropolitan Detroit's Best & Brightest Company to Work For" by the Michigan Business & Professional Association. In the late 1990s, Rock became a "vic- tim of its own success." The firm went public at $10 a share in 1998, then launched its online lending site, while also striking deals with a variety of online real estate sites. In late 1999, Intuit, Inc., of California, makers of market-leading Quicken and Turbo Tax software, bought Rock for $532 million in Intuit stock. With the stock market soaring at that time, Rock shareholders were paid off at $33 a share — more than triple their original invest- ment. "We just couldn't afford to turn down the deal," Gilbert reflects. "It was a great price and it gave Rock the Quicken name and a 20 - million customer base." But the youthful Gilbert got restless, and he and a group of investors bought the Quicken Loans subsidiary back from Intuit in 2002 at a price he won't dis- close. He owns 60 percent of the new firm, and about 15 investors own the " C ourtyard Manor is small and homelike, making a family o f 20 residents in each of our state-licensed, safe and secure bulletin Courtyard is built with only one floor and no stairs to climb. We are barrier-free and wheelchair-accessible. W e specialize in Alzheimer's and Dementia, and the frail elder Our affordable rates include assistance with battling, dressing, personal hygiene, medication management, laundry, meals and snacks. 7) Wixom 248- 69-5263 - Farmington Hills Auburn Hills 248-340-9296 248-539-0104 Sterling Heights 586-254-5719 ATTENTION PITNEY BOWES CUSTOMERS You have an alternative. We are the largest independent postage equipment dealer in SE Michigan. Wilma AUTOMATED MAILING SOLUTIONS We offer the latest equipment for the smallest offices... ... to the largest businesses in Detroit. Call us today and receive a 10% discount 734-464-7230 We proudly represent HASL -R - Coming Soon...Jewish News 9/19 2003 116 Mailing Systems and Solutions 7) rest. 'Again, it was an excellent price, but this time it was the other way around...and we wanted to be on our own and not have to report to a large corporation," he said. "Since then, our business has increased about 150 percent. One of our secrets to success is that we keep recruiting great people and, of course, we still have that highly visible Quicken name and do heavy TV and radio advertising." There are no plans at present for the company to go public again. "Dan Gilbert may be the closest per- son to a David Hermelin that this com- munity will ever have," declared Alan S. Schwartz, of Franklin, chairman and CEO of the Detroit law firm of Honigman, Miller, Schwartz and Cohn, which has handled Rock's legal business for the past seven years. Hermelin was the highly successful businessman, com- munity leader and philanthropist who died in 2000. "Dan is an astute businessman, a great motivator, very charismatic and is doing wonderful things in the community," said Schwartz. "Rock Financial is a reflection of his genius and leadership." In one of his personal business ven- tures, Gilbert is a partner of Steve Greenberg, managing director of Allen and Co. in New York and son of Hank Greenberg, the legendary Detroit Tigers baseball slugger. Allen is an investment banking firm specializing in sports and sports media. "Dan is a terrific guy because he mixes tremendous business success with gener- ous charitable work," Greenberg said. "And I especially admire him as a won- derful family man. Gilbert's parents are Shirley and Sam Gilbert of West Bloomfield. She's a Realtor and he's a retired restaurateur who, at age 87, recently underwent suc- cessful heart valve surgery in New York City. The whole family got interested in JARC, mainly because a relative lives in a JARC home. Dan Gilbert spent several years on the JARC Executive Committee and served as treasurer before taking over the presidency. Gilbert and his wife, Jennifer, have four children younger than 7. When the eldest developed neurofibromatosis, a rare nerve disorder, Gilbert attacked the situation with the same zeal that earned him plaudits and success as a business- man. He and Jennifer visited several physicians around the country with the boy to learn more about the disorder and get help. With special treatments, their son is doing better. Gilbert now is on the board of the National Neurofibromatosis Foundation, Inc. in New York, helping to raise funds to fight the malady. I I "