OT: UNLV donor drama

[bigd]

The Engelstad foundation which has given $43.5 million to the university is ceasing financial support.

https://thenevadaglobe.com/fl/englestad-foundation-ceases-financial-support-to-unlv/amp/

Pretty crazy, wonder if it will lead to a change of leadership?

[utenation]

Ouch. Hurts more that it’s attached to medical practice and serving the greater good of the public. 
 

There’s two sides to the story here. Anyone know what UNLV’s is or is that locked up behind legal padlocks? Their answer was obviously vague and canned. 
 

Those who write the checks usually call the shots. Nothing new on that. 

[Spaztecs]

UNLV's Leadership

 

[Headbutt]

On 5/20/2024 at 8:38 PM, utenation said:

Ouch. Hurts more that it’s attached to medical practice and serving the greater good of the public. 
 

There’s two sides to the story here. Anyone know what UNLV’s is or is that locked up behind legal padlocks? Their answer was obviously vague and canned. 
 

Those who write the checks usually call the shots. Nothing new on that. 

Yeah, definitely an interesting feud.  I'm not a fan of donors picking presidents and dean's.  That seems to be a bit of an overreach.  OTOH, if you're forking over that kind of cash with the understanding that certain disciplines would be addressed, and then they aren't, well I think you're right to be pissed.

Not a big deal to me at all, but could be fun to watch.

[utenation]

On 5/21/2024 at 7:09 PM, Headbutt said:

Yeah, definitely an interesting feud.  I'm not a fan of donors picking presidents and dean's.  That seems to be a bit of an overreach.  OTOH, if you're forking over that kind of cash with the understanding that certain disciplines would be addressed, and then they aren't, well I think you're right to be pissed.

Not a big deal to me at all, but could be fun to watch.

I’m curious to see if UNLV responds more directly. A pissing match in the media won’t get too far.  But I’m curious if they voice their side of the story. 
 

Or if they just move on. I’m not even sure how damaging this is for UNLV. @SharkTanked, @UNLV2001 or @RebelAlliance, any thoughts?

[UNLV2001]

On 5/21/2024 at 6:24 PM, utenation said:

I’m curious to see if UNLV responds more directly. A pissing match in the media won’t get too far.  But I’m curious if they voice their side of the story. 
 

Or if they just move on. I’m not even sure how damaging this is for UNLV. @SharkTanked, @UNLV2001 or @RebelAlliance, any thoughts?

I knew the old man Ralph Engelstad back around 1980 - He was a building contractor who came out to Vegas from South Dakota & made himself rich by building & developing, then bought a little slot joint on the strimp across from Ceasars Palace & next to the Flamingo - He turned that into the Imperial Palace & he was one of the silent funders of the LV Motor Speedway ............ This is his daughter who I never saw, and oversees the estate & funds.

It's a blow to UNLV for sure & there's some mending to do ........but that could be a BIG IF !

https://thenevadaindependent.com/article/engelstad-foundation-a-key-unlv-donor-pulling-its-funding-from-the-university

The Engelstad Foundation, one of Las Vegas’ largest philanthropic organizations, will no longer provide financial support to UNLV, blaming a “poor and unacceptable” relationship with the university’s leadership and the dean of the Kirk Kerkorian School of Medicine.

The foundation has given more than $47.3 million in support of UNLV over the years. The organization was created in 2002 by the late casino operator Ralph Engelstad and his wife, Betty, to provide funding for medical research and to improve the lives of individuals with disabilities. It is also a major donor to The Nevada Independent.

In an interview Wednesday, foundation CEO Kris Engelstad, who is the daughter of Ralph and Betty, said the organization will continue to honor its financial commitments to 100 Engelstad Foundation scholars as well as 25 medical school students who are receiving significant scholarships from the group.

“We don’t want to penalize them, but as far as any projects or buildings or any other initiatives that we’re hit up for on a regular basis, they can forget it,” Engelstad said.

 

Other medical school projects that could be lost include an opportunity for pediatric mental health services to double their space for additional programs currently provided by several UNLV colleges, the expansion of an autism program, an expansion for the children’s heart centers and pediatric cardiology program, the opportunity for the medical school to provide space for a private practice adult psychiatric service and general and subspecialty cardiac service.

Engelstad suggested other UNLV donors might follow the foundation’s lead.

 

https://siouxsports.com/hockey/history/engelstad.htm

The Ralph Engelstad Story

Ralph Engelstad was fresh out of Thief River Falls (Minnesota) High School in 1948, working that summer unloading rail cars. The older guy next to him turned out to be a University of North Dakota chemistry professor and future dean, the late Ben Gustafson. In the course of conversations, Ben learned Ralph had played goalie and encouraged Ralph to enroll at UND and go out for the UND hockey team.

The rest, as they say, is history. Ralph not only played as a goalie for the Fighting Sioux, but also received an offer to try out with the Chicago Blackhawks. Ralph, after two years at UND, joined a number of teammates in California playing for the San Bernardino Shamrocks and working construction. He realized the importance of completing his UND education, returned, and earned a bachelor's degree in commerce in 1954. Shortly after graduation, Ralph and Betty Stocker of East Grand Forks were married. Their daughter Kris and her husband have two children, Sean and Erin.

Ralph's work ethic and initiative were established early in his life. Another of his experiences in construction was assembling steel buildings sold by Agsco, where his father, Chris, was a salesman. The work was usually on farms and Ralph and his co-workers often slept in their cars and worked from sun-up to dark.

Ralph started Engelstad Construction in Grand Forks in the 1950s, and the buildings he constructed are still standing and serving well. In the 1960s he looked for opportunities to expand his horizons. His choice: Las Vegas, Nevada -- the relatively small gambling city in the desert, but with a very active housing market and good prospects for population growth.

Ralph, willing to take a risk, became owner of real estate in north Las Vegas known as the Thunderbird airport. In 1967, the late Howard Hughes wanted this land and Ralph was willing to sell. This gave Ralph the capital to acquire a small hotel and piece of land a short distance from the Flamingo Hotel and across the street from Caesar's Palace. His vision, however, was an entirely new hotel and casino. The Imperial Palace opened on the site in 1979. His internationally renowned auto collection opened three years later. The Imperial Palace, expanded to over 2,600 rooms, was once the largest privately owned hotel in the world.

Ralph Engelstad, who Earl Strinden, former UND Alumni Association Executive Vice President, called "the most outstanding and successful entrepreneur to graduate from UND in its entire history," continued to build his empire. It included numerous non-gambling enterprises and ownership of property throughout the nation. He was the major principal in building the NASCAR race track near Las Vegas which accommodated 109,000 fans and parking for 65,000 vehicles. He also built the Imperial Palace Hotel and Casino in Biloxi, Mississippi.

The legends about Ralph Engelstad are many. When Ralph decided to start his own construction company, he approached two local banks for a $2,500 loan. He was turned down. The late Al Holmquist, President of Valley Bank, made the loan. Ralph never forgot; and for as long as Valley Bank was an independent bank, it held sizeable deposits for Ralph. In appreciation, Ralph some years later gifted Holmquist a new Cadillac. John Cook, who succeeded Holmquist as bank president, became a close and trusted friend.

What is the secret to his success? His standard answers to this question are, "The harder I work, the luckier I get," and "no dream comes true until you wak up and go to work."

 

[RebelAlliance]

On 5/21/2024 at 8:24 PM, utenation said:

I’m curious to see if UNLV responds more directly. A pissing match in the media won’t get too far.  But I’m curious if they voice their side of the story. 
 

Or if they just move on. I’m not even sure how damaging this is for UNLV. @SharkTanked, @UNLV2001 or @RebelAlliance, any thoughts?

I don't really have too much connection to UNLV to have an informed opinion, plus I haven't lived in LV since high school..  My mother was an administrator there for several years, but she's long retired.  For me, it was the local team that I rooted for in middle school and high school.

My gut opinion is the trust fund girl thinks that the foundation donations entitle her to run the university, and she's throwing a tantrum because somebody told her no.  Ohio State just went through something similar when Les Wexner (something like 250M in lifetime donations) ran off an incredibly accomplished President who wouldn't turn their medical center into the personal fiefdom for he and his wife.  For her replacement, they had to settle for the guy at Nebraska who's background was as a Naval officer and had never run an AAU university before.  And it's looking as if he's in way over his head.  It's a tricky balancing act.  Universities need the big donors, but they need to have the will to keep them at arm's length at the same time..  

 

[B_Lootz]

This isn’t the first time this family (Kris Engelstad in particular) has tried to push their weight around in similar fashion:

https://www.sayanythingblog.com/entry/plain-talk-engelstad-family-says-theyll-withhold-donations-to-und-calls-for-president-kennedy-to-be-fired/

[quickdraw]

On 5/22/2024 at 8:18 AM, B_Lootz said:

This isn’t the first time this family (Kris Engelstad in particular) has tried to push their weight around in similar fashion:

https://www.sayanythingblog.com/entry/plain-talk-engelstad-family-says-theyll-withhold-donations-to-und-calls-for-president-kennedy-to-be-fired/

That was from 5 years ago but it almost looks like a cut and past to today. Change a few letters in the school and the dollar amount the the rest reads the same.

[NevadaFan]

On 5/22/2024 at 8:35 AM, quickdraw said:

That was from 5 years ago but it almost looks like a cut and past to today. Change a few letters in the school and the dollar amount the the rest reads the same.

It would be nice to have enough money to cast a bronze statue of oneself. 

[Spaztecs]

I'm thinking she's pulled the funding and using it for her living expenses.

[utenation]

On 5/22/2024 at 9:49 AM, NevadaFan said:

It would be nice to have enough money to cast a bronze statue of oneself. 

Meh… they are overrated. 
 

 

[Iam4wyo]

The IP was a dump, within 10 years of opening.  Rumor had it that it had ties to some former Nazi's as well - which of course may or may not be true.  The flooding of the parking garage was always an annual news story - that place just couldn't catch many breaks.

[NevadaFan]

On 5/22/2024 at 9:14 AM, Iam4wyo said:

The IP was a dump, within 10 years of opening.  Rumor had it that it had ties to some former Nazi's as well - which of course may or may not be true.  The flooding of the parking garage was always an annual news story - that place just couldn't catch many breaks.

It probably laundered $$$ with the best of them. Why buy new carpet for your business when you can donate a bronze statue of yourself to your alma mater!?

[Rebels18]

im sure it had something to do with the usual UNLV Admin incompetence we've seen over the decades

and something to do this Kris Engelstad being a entitled Karen with daddy's money

[UNLV2001]

On 5/22/2024 at 9:14 AM, Iam4wyo said:

The IP was a dump, within 10 years of opening.  Rumor had it that it had ties to some former Nazi's as well - which of course may or may not be true.  The flooding of the parking garage was always an annual news story - that place just couldn't catch many breaks.

Engelstad - Hosted a birthday party for Hitler..........mostly as a spoof, but it got out and the NV gaming Board fined him some amount & that was the end of any more that was publicly known

 

[utenation]

On 5/22/2024 at 12:15 PM, UNLV2001 said:

Engelstad - Hosted a birthday party for Hitler..........mostly as a spoof, but it got out and the NV gaming Board fined him some amount & that was the end of any more that was publicly known

 

I'm disliking these people more and more by the post. JEBUS. I don’t really think you can turn anything Hitler into a “spoof”.

Low class move. 

[Beaver-Poke]

Engelstad made a huge donation for the new hockey arena at UND. It's a palace, the best arena in the sport. The family threatened to pull its name off the building and cease donating if UND dropped the Fighting Sioux nickname. It did (they are now the Fighting Hawks) but the arena's name didn't change and as far as I know they still donate.

As someone said, entitled rich people who think their donations earn them the right to make policy decisions.

[Iam4wyo]

On 5/22/2024 at 12:15 PM, UNLV2001 said:

Engelstad - Hosted a birthday party for Hitler..........mostly as a spoof, but it got out and the NV gaming Board fined him some amount & that was the end of any more that was publicly known

 

I didn't remember that!  Whoa.

[UNLV2001]

On 5/22/2024 at 11:18 AM, utenation said:

I'm disliking these people more and more by the post. JEBUS.

Back when I was doing some work on the Imperial Palace ( I was 19/20 back then ) .........Ralph never gave any signs that I saw about being a Hitler fan or maybe he just did a shindig that was in bad taste -- Granted I wasn't buddy buddy with RE, but I did talk to him & go to his office, which was on the top floor of the hotel tower ( office on one wing & built a residence on the new tower ) ( Actually worked out of his old house for a few months after he moved into the IP )

I think he was sort of estranged from his daughter back then.........thought I recall the guy who was running his car collection (Gilbertson I think his name was & called "Gillby") was his son-in-law and was a former hockey player for the minor league Las Vegas Gamblers hockey team 

Can say that walking around & seeing him , no one would think we was worth much $$......he constantly wore slip on deck shoes, no socks, poplin jeans & a pull over shirt & only carried one of those old Motorola Radios that construction guys used to have, so he could listen in & contact subcontractors & casino security -- Also his car was a 19777/78 Olds Cutlass