Pam Decraene: 30 Year JP Morgan VP and Crediblity

How do you determine credibility of persons?  Does it matter to you? Experience has taught us that it does. JP Morgan Chase is an impressive corporation and investment bank and my brother, an accountant was a manager in the Wilmington, Delaware Headquarters for 10 years, until early 2007.

When Jim and I first met Ms. Decraene at the VLC pool in Sept 2013, our conversation revolved around her reason for moving with her husband Bob from their hometown in Indiana, her recent retirement after 30 years as a Vice President with JP Morgan and how expensive her water bill was. As stated before, we told her the $30-$35 we were charged for water/sewer each time we stayed for one week, was normal for the area and being a large usage condo, not unexpected (see City of Cape Coral rates-more gallons, higher unit price).  She stated her reason for moving from Indiana to Florida was an insult from a relative in regards to a job move when she waited for a location to open up for her. She did not elaborate on the move but stated the relative said her decision was “stupid”.

We returned to New Jersey and I asked my brother about Ms. Decraene and her being a VP for JP in Indiana. He stated that JP Morgan Chase had not entered the mid-west markets until mid-2000’s, more closely around 2005 when it began buying up smaller banks which then operated under the JP name.  We didn’t give additional thought to her, or her statements on her career until we learned she had been put on the BOD by former pres Kisner sometime in Oct 13. (Learned at the pool of course, no communications needed for mere owners) After becoming aware of the “free” water and sewer being enjoyed by Kisner and attempting to obtain (as all owners are ENTITLED to) copies of the water billings to determine who was not paying; we received the email discussions of the issue, including statements and questions by Decraene.

In none of the emails nor in our Sept 13 discussion, did Decraene mention her bill being ZERO for her unit as was Kisner’s.  Many of the writings did not indicate any financial or accounting background.  (Uploaded to Kisner post)

Water bills to be posted and subsequent payments by Kisner and Decraene, made 1/8/14 after conducting numerous legal meetings (see invoices) regarding “Election Issues”.  How did they think the had the right to spend our $$ to consult on Election Issues?

Decraene entered the election for the 2014 BOD; the CAM’s denied our being allowed to see the water bills (obtained after the election) and the Candidate Statement mailed separately to all owners (as inadvertently omitted by CAM Stiles), for Decraene included one career job and a long list of volunteer work.  2014 01 02_Candidate_Statement_Decraene One owner, who paid high like us and had a background in real estate and insurance spoke with me regarding the 30 year career and stated that it sounded impressive compared to some of the other resumes.  A Google search brought two separate articles from the South Bend Tribune (a local Indiana paper) of 2 different jobs held in 2004,  NOT JP Morgan Chase.

These articles confirmed what my brother had told us and after the election, newly elected BOD member Richard Aliperti wanted to have a phone conversation with me. (to be summarized on Aliperti post). During the “conversation”, I brought up that background checks for BOD members could be added to our bylaws, due to their access to unit keys and ability to control (and destroy) our financial health.  Aliperti became extremely agitated when I used Decraene’s misleading resume as an example (cannot understand why anyone would list one job, 30 volunteer activities except to impress beyond real background) and stated that she had explained to him about this.  He stated she worked for JP Morgan, then left, then came back and it happens often in the corporate world.   (I guess a government accountant must have never worked in the corporate world nor have knowledge of private enterprise practices?? – 🙂 I have worked in private, not for profit and government).

When I stated that JP Morgan was NOT in Indiana in those years, and only bought up smaller banks late in the 2000’s, he yelled that he could not work with anyone like me and would resign! That was the end to our 1st of only a handful of telephone conversations.  We had not at that time (met in person 3/24/14) and based on his writings by email and that one 30 minute phone conversation, I did not consider his resignation to be a loss.   During our “conversation” he admitted knowing nothing about the statutes, condo docs, by laws, nor the water meter debacle, nor the budget or deficit but lectured me, (seemingly without taking a breath) for the first 10 minutes. He ranted that I would destroy the community if I persisted thought did not specify what I couldn’t persist in doing and went on about VLC becoming a Section 8 community.  ?????? More on this to come.

Subsequent to this, Decraene emailed a copy of her last W2 and a glass etched award with 30 years retirement from JP by email, to clear up any questions.  This, Jim and I found “interesting”. After meeting Aliperti  on 3/24, and his bringing the Decraene employment history issue up again;  I sent the 2nd article for a 2nd 2004 employer and asked for further details of the changes. An emailed response from Aliperti stated the BOD was proud of Decraene’s service and that she worked for JP Morgan for her last 18 months (they purchased the bank she worked for and offered her a position 3 hours from her Elkhart, Indiana home).  BOD member Hallihan sent an email with “WHO CARES”!.

It was Aliperti who brought the issue up to me again in March 2014 during a meeting he requested, through Hallihan, which was conducted at our condo. (Yes I advised them that 3 or more was an illegal BOD meeting-we were not aware Hallihan was accompanying him).  I already knew the facts regarding JP and Indiana, and once I know someone has issues with truth, Keep them remain at arms length.  If someone submitted a resume to JP Morgan or any corporation, with overstated or misstated history, they are usually dismissed.

Who Cares?  We do. Credibility always matters.  We are shareholders in a not for profit association and as with buying ownership in a business or stock in a corporation, expect the finances and BOD members to be as reported. VLC may not be Enron but as a percentage of our net worth/wealth, it is important to those of us who own.

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