Didn't have the time to read all the responses, so sorry if I say something that has already been said, but here are my views on this:
1) I don't see any LEGAL problem with his mother getting a loan for that Hummer. He's only a few months away from being a multi-millionaire, and a car dealership can give a loan based on that - no problem. OHSAA felt the same way.
2) I do see a problem with James accepting free jerseys. There is a rule about that, and he violated it. He should have known better, and if he didn't know better, then his school and coach are to blame for that.
3) While this might be splitting hairs, the story was that he received the jerseys in exchange for an autographed picture. Now that isn't getting them from free. Cannot a merchant decide to barter?
4) LeBron James' mother shows bad parenting in my opinion. First of all, she was last year saying "LeBron might be the first JUNIOR to enter the NBA. She meant High School Junior of course. Secondly, she got him that Hummer. Bad move. It's all about attitude. Don't count your chickens before they've hatched. If for some reason my teenaged children are talented enough in some way to have millions guaranteed to them the minute they graduate from high school, they will drive their beater car or take the bus or walk or ride a bike or RUN until that money is in the bank. THAT is the example to set - not this "have it NOW" attitude that LeBron James' mother is allowing. And, it is all HER fault. He's just a kid. Bad parenting.
5) As far as the Ohio High School Athletic Association and everyone else making money off LeBron James, I say SO WHAT! They are increasing his marketability by arranging for him to play in large venues and on TV. He should be kissing their feet, not the other way around. No one should be complaining about the treatment he has been given. Anyhigh school athlete knows that they are not allowed to receive money for playing high school sports. I don't care if people make billions or even trillions off of him. He is not entitiled to any of it and has no room to complain or whine.
6) It is sad that so much attention has been put on this kid. He has made bad decisions already and he isn't even in the league yet. I'm pretty sure we will be hearing more from LeBron James - not all of it good.