DePaul/Wintrust/Ponsetto...Conflict of Interest?

[DegenerateDish]

http://depauliaonline.com/33799/news/athletic-directors-relative-played-key-role-in-wintrust-agreements/

[GGGG]

http://depauliaonline.com/33799/news/athletic-directors-relative-played-key-role-in-wintrust-agreements/

This sounds like the prelude for a “for cause” dismissal.

[Dr. Blackheart]

The source said that Lenti Ponsetto was “involved in the process” and that she had a hand with “price points and deliverables.”

At Marquette, it's "respect the process".  At Chicago-DePaul, it's "involved in the process".

[MU82]

It simply sounds like "the Chicago way."

[Eldon]

It simply sounds like "the Chicago way."

One hand washes the other...

Read the comments.  Some of JLP's people are commenting.  They raise the (valid) point that JLP doesn't have that much power at the university.  Something as important as naming rights would have to go through the BOT, and it's unlikely that JLP has sway over all of them.

[GGGG]

One hand washes the other...

Read the comments.  Some of JLP's people are commenting.  They raise the (valid) point that JLP doesn't have that much power at the university.  Something as important as naming rights would have to go through the BOT, and it's unlikely that JLP has sway over all of them.

But that's not really the point.  The reason you file conflict of interest statements is so that the potential conflict is acknowledged.  It may be deemed not to be relevant, but its better for the organization to address this up front rather than answer the questions after the fact - like they are doing now.

So while I am sure JLP doesn't hold sway over the Board, the fact that she may have played a part in the negotiations, and a potential conflict may have existed, should have been disclosed.

[Benny B]

But that's not really the point.  The reason you file conflict of interest statements is so that the potential conflict is acknowledged. It may be deemed not to be relevant, but its better for the organization to address this up front rather than answer the questions after the fact - like they are doing now.

So while I am sure JLP doesn't hold sway over the Board, the fact that she may have played a part in the negotiations, and a potential conflict may have existed, should have been disclosed.

While I agree with most of this, I would beg to differ on JLP's sway over the board... if JLP doesn't have the board wrapped around her little finger, then how - pray tell - does she still have a job?

Logic'd.

[ChitownSpaceForRent]

Maybe this is the push DePaul needs to oust JLP.

[Lighthouse 84]

Maybe this is the push DePaul needs to oust JLP.

That's what I was thinking.  That would be the best thing to happen to DePaul hoops in a while.  Maybe they'd get a competent AD who could improve the program.

[T-Bone]

While I agree with most of this, I would beg to differ on JLP's sway over the board... if JLP doesn't have the board wrapped around her little finger, then how - pray tell - does she still have a job?

Logic'd.

I am curious about what it is, but it seems clear that she's got something on someone.

[Eldon]

But that's not really the point.  The reason you file conflict of interest statements is so that the potential conflict is acknowledged.  It may be deemed not to be relevant, but its better for the organization to address this up front rather than answer the questions after the fact - like they are doing now.

So while I am sure JLP doesn't hold sway over the Board, the fact that she may have played a part in the negotiations, and a potential conflict may have existed, should have been disclosed.

That's fair. 

If you have to ask "wait, would this require a declaration of a conflict of interest?"  Well, then it's probably safer to fill one out than not.  If nothing else, it looks bad, and some overzealous students at the school newspaper may pick it up.

[ChitownSpaceForRent]

That's fair. 

If you have to ask "wait, would this require a declaration of a conflict of interest?"  Well, then it's probably safer to fill one out than not.  If nothing else, it looks bad, and some overzealous students at the school newspaper may pick it up.

Yea, I was looking back at some old articles from that student newspaper and they are fed up with the DePaul athletic department. Take a look at this gem.

http://depauliaonline.com/33819/sports/overhaul-years-overdue-in-athletic-department/

[mu03eng]

If she was in the room when it happened(And it sounds like she was) that is a conflict of interest and the fact no form was filed declaring it was filed means it's an ethics violation at a minimum and grounds for dismissal at the worst.

It's Chicago so it's not like this is prosecutable

[T-Bone]

Is this something the NCAA would find as a violation or infraction - failure to submit a declaration?

[LAZER]

So who is actually going to fire her? I assume the BOT was aware of this conflict.

[GGGG]

Is this something the NCAA would find as a violation or infraction - failure to submit a declaration?

No it's not an NCAA issue.

[GGGG]

So who is actually going to fire her? I assume the BOT was aware of this conflict.

Regardless she still should disclose it. 

[LAZER]

Regardless she still should disclose it.

Oh I 100% agree.  I know little about DePaul politics, but it seems JLP is pretty secure there and from a far it seems unlikely the admin will do anything about this.

[RJax55]

Oh I 100% agree.  I know little about DePaul politics, but it seems JLP is pretty secure there and from a far it seems unlikely the admin will do anything about this.

New President at DePaul.

[mueron]

Not including JLP's failure to disclose this seems to me to be not a big deal? Two organizations signed into mutually beneficial financial agreements? I know a little bit about Wintrust and I know they are very aggressive with pricing for commercial accounts. My last two employers switched to Wintrust, both baseball teams in Chicago I believe. They are growing rapidly with nothing to do with JLP.

[GGGG]

Not including JLP's failure to disclose this seems to me to be not a big deal? Two organizations signed into mutually beneficial financial agreements? I know a little bit about Wintrust and I know they are very aggressive with pricing for commercial accounts. My last two employers switched to Wintrust, both baseball teams in Chicago I believe. They are growing rapidly with nothing to do with JLP.

Let me start this by saying that I have presented on the importance of non-profit conflict of interest policies on a number of occasions. 

They are essential.  First of all, many states require that such policies by in place and that governing boards are vigilant in their oversight.  Independent auditors are supposed to review this policy and the responses to the policy submitted by directors, officers and staff.

Second, the IRS can levy tax sanctions on non-profit entities that do not have such a policy and/or do not adequately oversee its implementation.  (That is a pretty extreme penalty however.)

And again, it may not be a big deal at all.  However disclosing it is always better than not, simply because it can be acknowledged.  DePaul's trustees, while debating the agreement with Wintrust, could have simply put a line in their minutes indicating they reviewed a potential conflict of interest with JLP and determined it wasn't material.  That's really all they had to do.

[mu03eng]

Quite frankly the fact that a disclosure in this instance would have been easy and a non-deal break really makes me suspicious about this transaction. On the surface there was zero reason not to disclose the conflict, so why not?

[Dr. Blackheart]

Quite frankly the fact that a disclosure in this instance would have been easy and a non-deal break really makes me suspicious about this transaction. On the surface there was zero reason not to disclose the conflict, so why not?

I see Mike Madigan lurking...

[warriorchick]

Not including JLP's failure to disclose this seems to me to be not a big deal? Two organizations signed into mutually beneficial financial agreements? I know a little bit about Wintrust and I know they are very aggressive with pricing for commercial accounts. My last two employers switched to Wintrust, both baseball teams in Chicago I believe. They are growing rapidly with nothing to do with JLP.

It's a big deal because it's not an arms-length transaction.  Sure it was mutually beneficial transaction, but how do you know that DePaul couldn't have gotten more naming rights money from an unrelated entity?

If you were selling your house, and your real estate agent is recommending you accept a particular offer, wouldn't you want to know that the potential buyer was the agent's cousin?

[dgies9156]

It simply sounds like "the Chicago way."

Truer words have never been spoken.

As Mike Royko once said, the city's motto should be changed from "City in a Garden" to "Where's Mine?"

[dgies9156]

Yea, I was looking back at some old articles from that student newspaper and they are fed up with the DePaul athletic department. Take a look at this gem.

http://depauliaonline.com/33819/sports/overhaul-years-overdue-in-athletic-department/

Wow.

And we think things are bad at Marquette!??

That's the best article on DePaul basketball I've read in ages. There's too much going for DePaul to be this bad for this long. Something has to change there.

As much as I am a Warrior, it's good for both of our programs for both of us to be good. For our conference as well as our geography, DePaul needs to get better.  It makes basketball in the Midwest that much more fun to have a packed Winnie for a Marquette/DePaul game.

Maybe this is the push that gets DePaul to do something about Jeannie. She aint it and they have to know that.

[warriorchick]

Looks like Marquette now has its own WinTrust Connection:

https://news.marquette.edu/news-releases/marquette-wintrust-form-transformational-community-minded-partnership-for-banking-scholarship-aid-and-athletics/

Marquette, Wintrust form transformational, community-minded partnership for banking, scholarship aid and athletics
March 27, 2018


Share
Ten-year contract includes exclusive commercial and retail banking services, $12 million investment in scholarship aid, athletics and other institutional support

MILWAUKEE — Marquette University announced that it has entered into a new transformational corporate partnership with Chicago-based Wintrust Financial Corp. (NASDAQ: WTFC), in an agreement that leaders of both organizations are calling a unique, mission-oriented relationship that aims to serve Marquette students and the broader community.

Under the agreement, Wintrust’s Wisconsin-based Town Bank will be Marquette’s exclusive commercial and retail banking partner.

The partnership also goes beyond banking, Marquette University President Michael R. Lovell noted. The new relationship includes a $12 million investment over 10 years from Wintrust to fund student scholarships, athletic and educational programming, and other campus-oriented events, he said.

‘Couldn’t be a better fit’
“In working closely with Wintrust and their Town Bank team, we discovered mission alignment and shared values related to providing access and affordability to those who need it most,” Lovell said. “We are grateful for their significant investment in scholarship aid, which will have a profound impact on Marquette students as they become men and women for others and positive change agents in our communities.”

“The Marquette University partnership with Wintrust and Town Bank couldn’t be a better fit. Marquette is committed to setting its students up for success and so are we,” said Wintrust President and CEO Edward J. Wehmer. “We’re proud to not only offer great banking services to Marquette students, but also provide tools to help give students in need a leg up, like scholarship funding for first-generation and Milwaukee and Chicagoland low income families. We’re an institution the Marquette community can count on.”

“The leadership team at Wintrust and the local Town Bank group are already deeply invested in our community,” said Dave Lawlor, executive vice president and chief operating officer at Marquette. “They are innovative in their approach to banking relationships, have strategic priorities well aligned with Marquette’s, and share a common vision to make Marquette, Wintrust, Town Bank and our community better through meaningful partnerships.”

“Partnering with Marquette University fits well with the mission and values of Town Bank and Wintrust. Just as the university seeks to extend its boundaries beyond the campus, we, too, want to extend our presence beyond our brick and mortar branches,” said Jay Mack, president and CEO of Town Bank.

Town Bank, which is wholly owned by Wintrust, the second largest bank group headquartered in Chicago, has been expanding its presence and operations in downtown Milwaukee. The bank also has offices in Walworth, Dane, Waukesha and Racine counties.

Mission-oriented, community-minded partnership
The agreement follows a rigorous RFP process that brought to the table several financial services organizations. University leaders ultimately chose Wintrust for its commitment to providing Marquette with services beyond banking, lauding the organization for its community-oriented mission.

In addition to the scholarship aid commitment, the partnership includes several other key agreements:

Wintrust’s Town Bank will become the official commercial and retail banking partner of Marquette Athletics.
Wintrust and Town Bank will invest in the College of Business Administration’s burgeoning commercial banking program.
Wintrust and Town Bank will set aside seed funding for a small business revolving loan fund and will engage with banking program students to administer low-cost small business loans to enterprises located in surrounding neighborhoods, including the Near West Side.
The university’s current contract with U.S. Bank expires at the end of the fiscal year. University leaders expressed their appreciation for the bank’s decades of service to the Marquette community.

“We thank U.S. Bank for being excellent partners who provided outstanding financial services to the university and its students, faculty and staff, and we look forward to working with them in other future endeavors,” Lawlor said.

Transition work will begin this semester and is expected to be complete this summer.


I am glad Marquette seemed to get a great deal on WinTrust on this.  The one downside is that it is going to suck for students who live outside the Milwaukee/Chicago area. It's going to be more difficult for them and their parents to do their banking .  At least US Bank had a nationwide footprint.

[Spaniel with a Short Tail]

For those of you on twitter, @hasjlpbeenfired

Also, Brandon Cyrus transferring and Strus trying out for NBA. Heard there may be more transfers. Just when I thought the program might be able to crawl out of the cellar next season.

[TAMU, Knower of Ball]

For those of you on twitter, @hasjlpbeenfired

Also, Brandon Cyrus transferring and Strus trying out for NBA. Heard there may be more transfers. Just when I thought the program might be able to crawl out of the cellar next season.

Cyrus transferred because they have a talented transfer from Illinois coming off redshirt at his position. Strus won't go pro,  maybe he grad transfers but I think he'll be back.

[DegenerateDish]

Lenti is Ponsetto’s brother. He’s also married to Wintrust exec Kandace Lenti. Things that make you go hmm...

https://depauliaonline.com/35999/sports/lenti-makes-sudden-exit-after-more-than-30-years/

[Galway Eagle]

Lenti is Ponsetto’s brother. He’s also married to Wintrust exec Kandace Lenti. Things that make you go hmm...

https://depauliaonline.com/35999/sports/lenti-makes-sudden-exit-after-more-than-30-years/

Married one of his former players? Sketchy