Corus: A Condo Lender Hangs Tough
For a notoriously tightfisted banker, Robert Glickman proved to be quite the high-roller the past few years. The longtime chief executive of family-controlled Corus Bankshares (CORS), the sixth-largest Illinois-based bank, bet big on real estate in such spots as Florida, California, and, yes, Las Vegas. As Glickman backed condo and other construction, he amassed some $7.6 billion in commercial real estate loans and construction commitments, amounting to a huge chunk of Corus' $8.9 billion in assets. Giddy investors cheered him along, tripling Corus' stock price between 2003 and 2006.
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