New Pistons Owner Tom Gores Aims High

Businessman Tom Gores may be calling the shots as the new Pistons owner, but he鈥檚 indisputably a team player
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VITAL STATS

Born: Tewfic (likely an uncommon spelling of the Arabic, Tawfik, interpreted as 鈥渇ortunate鈥 and 鈥渟uccess鈥 (Wikipedia), Gores, July 31, 1964, in Nazareth, Israel.

Hometown: Genesee Township, Mich.

Current address: Beverly Hills, Calif. (Also a three-address waterfront compound in suburban Detroit.)

Education: Genesee High School, class of 1982; Michigan State University bachelor鈥檚 degree in construction management, 1986.

Career: Founded Platinum Equity, a private equity firm ranked 27th on the 2010 Forbes list of America鈥檚 Largest Private Companies, in 1995; Forbes 鈥400 Richest People鈥 position: No. 159.

Personal net worth: Estimated $2.5 billion.

Wife: Holly (n茅e Murdoch), a Grosse Ile native.

Children: Katrina, 14; Amanda, 13; Charles, 9.


Gores (No. 10) on the Genesee High School varsity boys鈥 basketball team, 1981.

One of these things is not like the other: Pro basketball. Seven-figure salaries. JumboTrons. Playing the tambourine.

Still, they all have a place in the world of new Pistons owner, aka family guy, soccer coach, and newbie studio musician, Tom Gores.

When Pistons executive Joe Dumars first met with his future boss, the conversation between the former hoops star and the incoming team owner had surprisingly little to do with the NBA, coaching decisions, or the business of professional athletics in general. As Dumars recalls, he and Gores swapped fatherhood stories while watching videos of Gores鈥 kids playing soccer.

Tom Gores in his junior year (1981) at Genesee High School. He also played baseball, football, and soccer.

鈥淭his is a very unique guy in the sense that he鈥檚 a very successful business guy, but the guy is a father and a husband, as well,鈥 says the Hall of Famer and current president of basketball operations for the Pistons. 鈥淭here鈥檚 no question that family comes first with him.鈥

Sports again were off the table during Gores鈥 first meeting with Ethan Davidson, son of longtime Pistons owner, the late William 鈥淏ill鈥 Davidson. After a few scheduling conflicts between the two, Gores boarded his private plane and flew to Detroit to meet the younger Davidson in a Hazel Park recording studio, where the musician was laying down tracks with his band. Davidson was uneasy about meeting the billionaire buyer of his father鈥檚 sports franchise in the studio, located 鈥渄own a dark alley behind a carpet store.鈥 But any ambivalence was quickly put to rest. As he quickly learned, Gores is a pretty down-to-earth, casual guy.

鈥淲e handed him a tambourine and we told him to go to work,鈥 Davidson says. 鈥淗e jumped right in there with the band. I don鈥檛 know if we鈥檒l ever finish this record, but if we do, he鈥檒l be on it.鈥

And, no, Gores (pronounced GORE-es) didn鈥檛 come to jam in a billion-dollar suit. Fans paying attention to the changes at The Palace of Auburn Hills may remember the jeans and the white collared shirt with short sleeves that Gores sported during the Pistons home finale against the Cleveland Cavaliers. As Gores danced from the stands for the JumboTron, George Blaha, the longtime Pistons TV play-by-play announcer, introduced the team鈥檚 new owner, pronouncing his name 鈥淕ores.鈥

The Pistons fell to the LeBron-less Cavs in a game that 鈥 had it been played in the same arena just a few years earlier 鈥 would have been a local-celebrity studded, sell-out event. The message on the court and on the big screen was clear: There鈥檚 a changing of the guard at The Palace 鈥 and in the NBA.

A Regular Guy

Gores is aware that the circumstances of the recording-studio meeting with Davidson were a bit bizarre. 鈥淗e might not have expected me to go, but we had a wonderful time,鈥 Gores says. 鈥淚t was important to meet Ethan as part of the deal.鈥

Gores had set personal terms for himself, which included meeting everyone in the Davidson clan and the four minority owners, Ethan being one.

For Davidson, Gores鈥 regular-guy display was a welcome surprise. 鈥淗e could鈥檝e come in and he could鈥檝e been a big shot,鈥 he says. 鈥淗e could鈥檝e not had the desire to meet me at all and he could鈥檝e still bought the team.鈥

At 47, with an estimated $2.5 billion to his name and a comfortable perch at No. 159 on Forbes鈥 鈥400 Richest Americans鈥 list, the Michigan native and founder of one of the most profitable private equity firms in the country has made a career and life out of shattering expectations.

Last fall, when Tigers and Red Wings owner Mike Ilitch publicly expressed interest in adding the Pistons to his hometown pro-sports crown 鈥 going as far as securing an exclusive negotiating period with Davidson鈥檚 widow, Karen 鈥 Gores鈥 name was barely whispered in basketball circles. But after Ilitch鈥檚 negotiating period expired without a deal in place, Gores and his executive team 鈥 already waiting and working in the wings 鈥 swooped in and scooped up the Pistons and Palace Sports & Entertainment for $325 million.

Gores closed the deal to become only the fourth owner of one of the oldest franchises in NBA history on June 1, 2011. (A purchase agreement had been in place for months.) The deal also included the entertainment venues under the Palace Sports & Entertainment umbrella: The Palace of Auburn Hills, DTE Energy Music Theatre (formerly Pine Knob), and operating rights to Meadow Brook Music Festival. But Gores had been celebrating since April, dancing in the stands and singing along with 鈥淒on鈥檛 Stop Believin,鈥欌 as readers of the blog observed. Did Gores know the crucial line of the first verse? The one that says, 鈥淛ust a city boy/Born and raised in south Detroit鈥?

Change 鈥渟outh Detroit鈥 to 鈥渘orth of Flint,鈥 and you鈥檙e singing Gores鈥 song.

A casually dressed Gores (left) at the Pistons home finale last season, where he signed autographs for young fans. // Photographs by Sarah Miranda

鈥楾ommy鈥 Gores from Genesee

The youngest son of a Greek father and Lebanese mother, Tom (born Tewfic) Gores immigrated to Genesee Township from Nazareth, Israel, with his family at age 4. His parents, Charlie and Marie, settled with their six children into a small apartment in Genesee, a town about 20 minutes north of Flint.

Kids pick up languages amazingly fast, and Tewfic (now Tommy) had no trouble assimilating. School 鈥 school sports, especially 鈥 became a Rosetta Stone for the Gores children. By the time he reached high school, the family was living in a modest ranch just down the road from Genesee High. Tommy, as those in Genesee remember him, biked to and from practices for baseball, football, basketball, soccer, and school plays.

John Pintek, Gores鈥 math teacher and assistant football coach at Genesee High School, remembers all the Gores kids 鈥 and their friends 鈥 as being active students. 鈥淭hey got the whole high-school experience,鈥 Pintek says. 鈥淭hey were on the prom committee. They were doing announcements on the PA. They were class presidents and [on the] student council, and doing it all.鈥

Along with brother Alec, with whom he is reportedly very close despite a competitive past, Tom thanked the school five years ago with a $250,000 donation for a new track in honor of Tom and Julia Joubran for their golden wedding anniversary. It was Uncle Tom Joubran who sponsored the Gores family鈥檚 emigration from Israel. A Flint businessman and native of Israel himself, Joubron gave 鈥淭ommy鈥 his first job as a carryout boy in the produce section of his grocery store, Tom鈥檚 Supermarket.

In young Gores, Pintek saw an honor student who knew when to break up locker-room tension with a well-placed quip. 鈥淗e wasn鈥檛 a troublemaker by any means,鈥 Pintek says. 鈥淗e was a little comedic. He liked to make you smile.鈥

But winning 鈥 and earning it 鈥 were just as important. 鈥淗e was very competitive,鈥 Pintek says. 鈥淭here was always that big driving force: 鈥榃e鈥檙e not just playing a game. We want to go out and we want to win and dominate.鈥 It鈥檇 be kind of nice to see that carry over to the Pistons.鈥

Gores鈥 Platinum office, complete with pool table. // Photographs by Sarah Miranda & TBD

The corporate headquarters of Platinum Equity in Beverly Hills, Calif., a private equity firm Gores founded in 1995. He鈥檚 chairman and CEO.听// Photographs by Sarah Miranda & TBD

The Platinum Treatment

If Gores鈥 June 2 press conference officially closing the deal had been a little bit more like the political rallies of this early campaign season, the song to introduce him could have been Sister Sledge鈥檚 鈥淲e Are Family.鈥 That鈥檚 a song he can dance to.

鈥淚 felt like [the Pistons deal] was a family decision,鈥 Gores says. 鈥淚 discussed it pretty deeply with my family and the Platinum family 鈥 the folks that have been great executives and supporters of me.鈥

Charlie Ittner, 30, director of the office of the chairman at Platinum Equity, illustrates what鈥檚 possible for ambitious people at Platinum. He began his career at the company seven and a half years ago, fresh out of college. After toiling away at the lowest rungs of Hollywood鈥檚 film industry, Ittner responded to a blind post on a local job listing. Assistant job for a businessman who had some film-financing interests, it read, as Ittner recalls. 鈥淚 loved the people I was meeting when I was interviewing,鈥 he says. 鈥淭here was something that felt very different, very unusual to me.鈥

At 22, Ittner became a utility man in the organization, serving as a gofer when something needed to get from Malibu to Beverly Hills on very short notice. Through that time, he got to know Tom and the Gores family well (all six siblings now live in California). 鈥淵ou get to know the cousins,鈥 Ittner says. 鈥淵ou鈥檙e at these events, and what鈥檚 kind of amazing is 鈥 you鈥檙e not treated as 鈥榯he help鈥 in these situations.鈥

As Gores and Ittner say: Loyalty is built into the culture. 鈥淚 don鈥檛 like to fly solo,鈥 Gores says. 鈥淚鈥檝e gotten here with a tremendous amount of support and momentum from these folks.鈥

Throughout Gores鈥 eight-minute press conference speech in June, he talked about Detroit鈥檚 passion, growing up on the streets of Flint, and becoming friends with the Davidsons. An unrehearsed microphone change, which caused some sound issues, prompted him to switch-up on the fly. Gores kept his cool. 鈥淕otta adjust, right?鈥 he said into his replacement mike.

Gores coaching his son Charles鈥 soccer team. // Photograph by Chris Schwartz

All in the Family

鈥淚t鈥檚 the end of one golden era,鈥 Karen Davidson said at that conference, 鈥渁nd the beginning of another.鈥

Although there are certainly differences between Gores and Bill Davidson (like the JumboTron dancing and the open-collared shirts), there are similarities. 鈥淚鈥檇 heard the stories about how they were a very proud family,鈥 Ethan Davidson says about the Goreses. 鈥淭hey鈥檇 grown up working in the supermarket business. People that weren鈥檛 afraid at all of hard work 鈥 the story was, in some ways, similar to my father鈥檚 family. They were immigrants, self-made.鈥

Dumars, who, in addition to working under Davidson as general manager once played for the team as shooting guard in one of the best backcourts 鈥 alongside Isiah Thomas 鈥 in NBA history, can already spot the similarities, too. 鈥淏oth of them understood how to get people to be at their best. I can see that already,鈥 Dumars says.

鈥淚 can see why [Gores鈥橾 company is so successful. When you鈥檙e in an environment with him, he creates a culture of you not only wanting to be successful, but knowing that you have the resources and the backing to be successful. That鈥檚 exactly what Davidson did.鈥

The family theme hits even closer to home for Gores. 鈥淚鈥檓 trying to convert my kids from Lakers fans to Pistons fans,鈥 he said at the press conference. 鈥淲e鈥檙e going to give that a shot. We鈥檙e making progress. Right now, my little boy [Charles, 9] is saying that the Pistons are top four in his choices.鈥

He went on to acknowledge his 鈥渙ld friends from Michigan,鈥 and his 鈥淧latinum friends.鈥 And then he returned to family 鈥 his mother and his siblings. Gores is always surrounded by family, whether it鈥檚 his Platinum family, the Pistons family, or his wife, Holly, and their three children.

Working for It

After high school, Gores received a scholarship to Michigan State University. There, he completed a program in construction management, receiving a bachelor鈥檚 degree in 1986. His father, a smoker, died of lung cancer five months later, at 57. In the construction business himself, the elder Gores had lived long enough to see the torch passed to his youngest son.

The trauma of his father鈥檚 death inspired a deep desire in Gores to redouble his efforts. After a two-year stint spent back in Genesee, Gores packed up his used navy-blue Cadillac DeVille and drove his girlfriend, Holly, to Grosse Ile to say goodbye to her family. The young couple was headed west, where Tom鈥檚 older brother Sam had gone to work in the entertainment business. California鈥檚 promise lay within a software company whose founder had offered Gores a job.

Gores says he woke up one day just knowing he had to leave for California. He asked Holly if she wanted to come along, unsure of what her answer might be. 鈥淲e weren鈥檛 that serious,鈥 he says. 鈥淏ut she took me up on it.鈥

The gamble didn鈥檛 stop there. During their road trip, the young couple made a pit stop in Las Vegas. 鈥淲e figured, what the heck, we鈥檒l stop in Vegas and just have a good time,鈥 Gores says. They ended up losing most of their money at the blackjack table, leaving them shy of the funds needed to pay the movers waiting for them at the other end.

How did he adjust? Gores says: 鈥淏efore the Nevada state line ended 鈥 right before California 鈥 there鈥檚 a place called Whiskey Pete鈥檚. I still had a few hundred dollars in my pocket. And Holly was kind of sleeping.鈥 Gores pulled over, played some blackjack, and walked out with $4,000 in his pocket.

鈥淪he bet on me, and she was good with me losing it,鈥 Gores says. 鈥淓nded up a good bet.鈥

In California, they rented a $600-a-month, one-bedroom apartment, sight unseen. 鈥淲e thought we were just going to get this great place,鈥 Gores recalls. 鈥淚t wasn鈥檛 that great.鈥

The next few years were spent toiling away, working 16-hour days making small handshake deals. Those hours stretched 鈥 like Tom and Holly鈥檚 budget at the time 鈥 past 1995, when Gores founded Platinum Equity. The year brought more than one important notch on Gores鈥 historical totem pole: It was also the year he married Holly.

Fabulously successful today by nearly every measure, Gores鈥 main home is in Beverly Hills, Calif. The family also maintains a compound-like residence in Downriver鈥檚 Grosse Ile, where the expansive waterfront property has three addresses nestled into a manicured landscape with a boat dock and kids鈥 soccer field. That suburban-Detroit foothold includes an approximately 4,000-square-foot, 1940s-era main house that was completely remodeled eight years ago. Other structures on the site include a clubhouse and a 3,500-square-foot guesthouse with a back patio setting suitable for poolside at an upscale hotel.

According to Duncan Murdoch, Holly Gores鈥 brother, who鈥檚 the Grosse Ile fire chief, the setting allows the family to congregate when the California relatives are in town.

Like his homes, Gores, himself, is securely buffered, which makes him a tough man to pin down. Ittner and two others run interference and manage his agenda and travel, with plans ranging from his children鈥檚 soccer games, which Gores coaches, to brokering a deal for a steel company in Pennsylvania. There鈥檚 plenty of crossover between Gores the businessman, and Gores the family man.

He illustrates that overlap by sharing the advice he gave his daughter, Katrina, after an injury on the soccer field this summer. 鈥淗ow great you鈥檒l be is how you recover from when it doesn鈥檛 go well,鈥 he told her. 鈥淲e can almost for sure know that at some time it鈥檚 not going to go well. So it鈥檚 our ability to recover from those situations and turn them into something that鈥檚 positive.鈥

Gores (center) with Platinum Equity partners Bob Wentworth (left) and Phil Norment at the new ownership press conference at The Palace of Auburn Hills, June 2, 2011. // Photograph by Dan Lippitt

Have Good People

鈥淚f you have great people, you can invest in them,鈥 Gores says. 鈥淎nd then who the heck knows where they could go? I don鈥檛 like limiting anything.鈥

Ittner, who鈥檚 now Gores鈥 right-hand man, says he could see himself retiring from the company some day. It鈥檚 mostly thanks to the conduct of his boss.

鈥淚n a wonderful way, he鈥檒l kind of wind you up and then give you plenty of room to run 鈥 plenty of room to execute. It鈥檚 empowering, I think. It allows us to feel like a bit of an entrepreneur in his or her own role.鈥

But what about that whole pushing everything to the last minute, and living so in the moment that he can鈥檛 plan more than a few minutes into the future?

鈥淚 think people who know him just kind of get it and understand it. People who don鈥檛 know him, I think, can definitely get a little irked by it,鈥 Ittner says of his boss鈥 tendency for tardiness. 鈥淏ut, whatever the situation 鈥 whenever they finally connect, the way he is kind of disarms the whole thing.鈥

This strategy also works as a filter for Gores to ensure he connects only with those committed to having his ear and his time.

鈥淭om will tell you that he never had a five-year plan for Platinum in 1995, or 2000, or five years from now,鈥 Ittner says. 鈥淚t鈥檚 more about coming in every day and executing like crazy.鈥

Gores has even coined a phrase he seems proud of: Plan on it, but don鈥檛 count on it.

鈥淎daptability is so key to business, and also a key to being happy,鈥 Gores says. 鈥淏ecause you鈥檒l constantly be disappointed if you aren鈥檛 able to adapt.鈥 Adaptability came in handy during that summer press conference, when Gores had to adjust and plough through that microphone glitch.

Take risks and never be limited by perceptions 鈥 two more Platinum guiding principles 鈥 might help explain Gores鈥 decision to buy the Pistons, as well as 30-plus other businesses, including The San Diego Union-Tribune, that are part of Platinum Equity鈥檚 portfolio.

鈥淎 lot of people thought maybe we might have been crazy going into Detroit while it was having such a hard time,鈥 Gores says. 鈥淏ut, if you really study the fan base and the town, and you understand the town and the uniqueness of the assets that are there, you see that it鈥檚 a tremendous opportunity.鈥

As a former part owner himself (who says he might be interested in reinvesting in the Pistons in the future) Ethan Davidson offered Gores a piece of advice when they first met. 鈥淵ou鈥檙e buying a piece of the city. You鈥檙e not the only guy that owns this.鈥欌

Gores seems to have taken the counsel of his predecessor鈥檚 son to heart. 鈥淧art of what has inspired me about this particular deal is to affect the community in a positive way,鈥 Gores says. 鈥淚 want to make a difference.

鈥淚 think I鈥檓 in a unique position, given where I鈥檓 at in the world and the current stage in my life, to really make a difference and try to inspire people.鈥

Of course, questions remain. Will Gores strike a deal for the Pistons and Red Wings to share a venue (as they did at Olympia when the basketball squad first moved here from Fort Wayne, Ind.)? Would that site be downtown?

The likely answer: Only if it makes sense.

Gores isn鈥檛 the type of guy to plan that far ahead. Prepare, maybe. It鈥檚 certainly not a goal. Gores doesn鈥檛 set goals.

鈥淚鈥檓 afraid of goals, because I don鈥檛 want to limit myself,鈥 he says. 鈥淲e work hard. And I鈥檓 a big believer that if we just do the right activities, the results should be there.鈥


Fast Break

What book is on your night stand?

Lately, [it鈥檚 just been] a soccer-coaching book. [I] have been coaching for years, but like to always learn. I tend to like reading books that have you learning versus [being entertained].

Do you remember Nazareth [in Israel] at all?

I have vague memories of Nazareth.

Have you been back to your birthplace?

I have not. Mostly, I want to see the home my dad built on his own, brick by brick, that housed us six kids and parents.

Do you practice or subscribe to any religion, or are you more spiritual?

Spiritual is a good way to put it. I am a big believer that religion is something that can enhance your life but shouldn鈥檛 control it. Mostly, I consider myself 鈥 respecting everyone鈥檚 own belief.

What characteristics in other people do you most dislike?

Arrogance and lack of humility.

What was your first job?

First job was a bag boy at a grocery store. Second job was a janitor. Tough job.

If you could describe your parents in three words, what would those words be?

Love. Determination. Hope.

Responses were edited and slightly condensed from written email replies.

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