Bill Stone places trust in David Grissom’s leadership at UofL

One of the faces I look forward to seeing is that of Bill Stone at announcements of major advancements at the University of Louisville. Always seems to be there, as he was when UofL announced the hiring of Howard Schnellenberger in 1985, for the groundbreaking of Papa John’s Cardinal Stadium in 1994, for the Tom Jurich intro in 1997, for the Big East announcement in 2005, the Charlie Strong hiring in 2009, the ACC in 2014 and many 0ther milestones along the way.

Bill Stone was an early believer in vast potential for University of Louisville athletics, challenging business and civic leadership to take advantage of one of the community’s greatest assets.

Stone always with a quiet smile at those events knowing how far the UofL has come over several decades. Proud of the school, aware of how far the institution still has to go, but having played a significant role in many of the milestones, savoring and relishing each of them.

I first became aware of Stone’s affection for UofL in the early Seventies through his Louisville Plate Glass newsletter. I was editor of the Jefferson Reporter, a weekly newspaper at the time. I looked forward to his latest epistles with those insightful comments on UofL sports. A busy executive who followed the Cardinals closely. One who tailgated frequently with the late Owsley B. Frazier at home football games, sometimes taking him to road games.

I met Bill personally a few years later as a member of the UofL Associates, a booster group, admiring his advocacy for the program. He was just as forceful as a member of the Board of Directors of the Louisville Area Chamber of Commerce. He has served on the UofL Board of Trustees and the UofL Board of Overseers, and he is currently a director of the UofL Athletic Association and the UofL Cardiovascular Institute — as well as involved in a wide range of other community leadership roles.

No one in the community cares more deeply for UofL or has been more active in promoting the University than Bill Stone. He’s the one I go to for insights on UofL issues because of his dedication and aspirations for the school.

Some recent speculation, largely on sports radio talk shows and fan message boards, has raised questions about the relationship between the current leadership of the Trustees and the Athletic Department. Some suggesting there is a rift between the two segments, that the current Board of Trustees under Chairman David Grissom may be displeased with UofL athletics for some reason.

“I can’t speak for the board but I know that there is great appreciation for what the Athletic Department has accomplished under Tom Jurich,” said Stone. “Some tension between the two groups is not necessarily a negative thing, occurring naturally within any organization. I believe Interim President Greg Postel is supportive of the Athletic Department and I would be disappointed otherwise.”

Stone said he was seated at the same table with Postel at the 50-Yard Line Dinner when the Adidas deal was unveiled. “He stood and applauded when Tom Jurich was announced, just like everybody else,” he said. “He was genuinely excited about the deal.”

As for his thoughts on whether Postel would be a serious candidate for the position of University President, Stone said the University “could do a lot worse. He’s a fine person, a quick learner who brings dignity and credibility to his job. He’s a very good man.”

David Grissom assumed the chairmanship of the Board of Trustees in 2016 when the previous board was dissolved.

He also believes J. David Grissom was an excellent choice to chair the Board of Trustees. “David is a person of great integrity, outstanding ability and he has been highly successful in everything he undertakes,” said Stone. “I have no doubt that he seeks excellence for UofL.

“David is never going to be seen at UofL game wearing all red, screaming, yelling, jumping up and down, shouting at a referee over a bad call. That’s just not who he is. He is a first-class, world-class executive, and we are fortunate to have someone like him on our team.”

Stone added that Grissom admires success, and was extremely pleased with the $160 million deal Jurich negotiated with Adidas. “Extremely pleased,” he added for emphasis. “He respects success and Tom is very successful. Anyone who thinks Grissom has ulterior motives or other than the best for UofL is way off base. Just plain wrong.”

Stone would not speculate on why Papa John’s executive John Schnatter had made some critical comments about the Athletic Department. “The bottom line is he has done a lot of good things for UofL athletics,” he said. “His name is on the stadium for good reason.”

As for UofL supporters worried about a possible UK tilt on the board, Stone wanted to alleviate that concern. “Many of the issues we are dealing with now are self-inflicted,” he said. “We’re talking about successful business people and educators. They didn’t get to where they are by being petty. I don’t think UK enters into their thinking at all.”

Stone says his only criticism of the current board is that there are few members who are emotionally involved with and passionate about the University. “That may come with time. They have the power, the resources and abilities to make some incredible things happen.”

For all the issues hanging over the campus, Stone remains confident that things are again headed in the right direction. He’s been through a lot for the University over the years, seen more than his share of ups and downs, and is emotionally invested.

“Despite all the problems, UofL remains the most attractive school in the commonwealth right now, with improving SAT scores and higher grade point averages. So much going for UofL, we can relax on building facilities for a while and focus on academics and research. I feel good about the future.”

New UofL board includes long-time heavy hitters

David Grissom tops list of heavy hitters.
David Grissom tops list of heavy hitters.

David Grissom tops the list in an all-star lineup of individuals appointed to the new University of Louisville Board of Trustees by Governor Matt Bevin this week.

Grissom, who obtained his law degree from UofL, has long been among the power brokers in Louisville, having served as chairman and CEO of Citizens Fidelity Bank & Trust, vice president of PNC Corporation, and executive vice president of Humana.

Name any leading company or institution in the region and there’s a good chance Grissom has served on the board, including Churchill Downs, LG&E, Yum! Brands, and Centre College (where he earned his undergraduate degree). He currently manages the Glenview Trust Company, the largest independent trust company in Kentucky.

John Schnatter a long-time donor.
John Schnatter a long-time donor.

John Schnatter— The founder and CEO of Papa John’s Pizza and a major benefactor for Papa John’s Cardinal Stadium. His name is also on the John H. Schnatter Center for Free Enterprise at the U of L College of Business.

Schnatter is a graduate of Ball State, but his wife Annette and grandfather Louis Ackerson are UofL alumni. His brother Chuck, daughter Kristine and two uncles are all graduates of the Brandeis School of Law.
 

Sandra Frazier from a family of strong UofL supporters
Sandra Frazier hails from a family of strong UofL supporters

Sandra Frazier — Comes from an old Louisville family that has been very generous to UofL for decades. Her father was the late Harry Frazier and her grandmother was Mary Frazier, a legendary benefactor. Her uncle was none other than the late Owsley B. Frazier, who gave $25 million to UofL shortly before he passed in 2012. She owns Tandem Communications and serves with Grissom on the Glenview Trust board. She earned an undergraduate degree from Hollins University and a master’s degree in mass communications from Boston University.

Junior Bridgeman — Among the best to ever play basketball at the UofL, he funneled his NBA money into fast food investments, raising his net worth to between $250 million and $400 million, according to Fortune Magazine. He was chosen by Gov. Bevin to head the transition team for the board after the old one was removed.

Dale Boden –President of BF Properties, one of the largest property owners in Jefferson County with approximately a million square feet of office and multifamily properties. He’s a UK graduate and has served on the Board of Advisors to UofL’s College of Business and the UofL Board of Overseers.

Nitin Sahney — Former President and Chief Executive Officer of Omnicare, Inc., and has served as President, Chief Executive Officer and co-founder of RxCrossroads. Vast experience in the healthcare field which should be helpful with University Hospital challenges. He’s a graduate of Punjab University in Chandigarh, India.

Douglass Cobb — Former President of Greater Louisville, Inc., he was Managing Director of Chrysalis, a venture capital firm.  He also was the Founder and CEO of The Cobb Group, publisher of newsletters for personal computer users, which was sold to publisher Ziff-Davis. He’s a graduate of Williams College in Massachusetts.

Bonita Black — Manages Steptoe & Johnson’s Louisville office, focusing on corporate law, including mergers and acquisitions and divestitures, and corporate, structured, and municipal finance law.  Previously worked with Frost Brown & Todd and LG&E. She obtained her law degree from Harvard and a bachelor’s degree from the University of Kentucky.

Dr. Ron Wright — An obstetrician-gynecologist in Jeffersonville. He is affiliated with Clark Memorial Hospital. He received his medical degree from University of Louisville School of Medicine. Worked with Bridgeman and Black on the UofL transition team.

Diane Medley — A native of Meade County, earning her degree in commerce from UofL. She co-founded Chilton & Medley Accounting in 1988 and Mountjoy Chilton Medley LLP in 2010. Today the firm is the 82nd largest financial services firm in the US She is currently the only female managing partner in the top 100 accounting firms in the US.

UofL President Jim Ramsey, who has to be ecstatic about the composition of the new board, issued the following statement:

“We appreciate Governor Bevin’s appointment of the new board. I have met with the three interim board members as well as the faculty, student and staff representatives and I plan to meet with the additional board members soon. I look forward to working with this new board as we move the university forward.”