Stephen Speicher

John Allison of BB&T Invests In Capitalism

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John Allison of BB&T has once again shown how wonderfully he can invest in his values.

From the University of North Carolina, Greensboro.

BB&T Gift to Enable UNCG Students to Study, Debate Philosophy of Capitalism

By Jill Yesko , University Relations

A $1 million gift from the BB&T Charitable Foundation to the Bryan School of Business and Economics at UNCG will strengthen students’ understanding of the moral foundations of our economic system.

The gift will establish the BB&T Program in Capitalism, Markets and Morality. The program will offer undergraduate and graduate students from disciplines across UNCG the opportunity to examine the ethical and philosophical basis for free market economies.

“Unfortunately, we find that many students who graduate with business degrees while understanding the ‘technology’ of business, do not have a clear grasp of the moral principles underlying free markets,” said John Allison IV, chairman and executive officer of BB&T Corporation.

“This program matches our shared interests in giving students a fair and balanced perspective on capitalism and free markets and in giving students across the UNCG campus a better understanding of our economy and greater ability to make meaningful contributions to our world,” said Dr. James K. Weeks, dean of the Bryan School of Business and Economics.

The gift will support an undergraduate course addressing “markets and morality” as part of a campus-wide offering in the Lloyd International Honors College. Students from all disciplines may enroll in the courses. A graduate-level course will also be developed.

Funding from the program will be used to expand the offerings of the undergraduate course and to provide faculty members with curriculum-development grants for courses that advance students’ understanding of the moral foundations of capitalism. The gift will support one doctoral fellow in economics each year.

In addition, the BB&T Distinguished Lecture Series in Capitalism will be launched. The series will focus on ethical and core values in business. Dr. Bruce Caldwell, Joe Rosenthal Excellence Professor in Economics at UNCG, will be among the presenters. Caldwell is the editor of “The Collected Works of F.A. Hayek,” one of the most influential free market economists of the 20th century.

The BB&T Ayn Rand Reading Room will be established in the Walter Clinton Jackson Library. The collection is to include Rand’s fiction and non-fiction, along with works by other authors who support economic freedom.

The BB&T Charitable Foundation is the philanthropic wing of BB&T Corporation, a Winston-Salem-based financial holding company with $118.5 billion in assets. BB&T operates more than 1,450 banking offices in 11 states and Washington, D.C.

I can't wait until BB&T reaches California, so I can switch banks!

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I can't wait until BB&T reaches California, so I can switch banks!

Exactly ... Indiana for me.

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"The BB&T Charitable Foundation is the philanthropic wing of BB&T Corporation, a Winston-Salem-based financial holding company with $118.5 billion in assets. BB&T operates more than 1,450 banking offices in 11 states and Washington, D.C."

I have never met John Allison but I am willing to applaud him on his production results alone as the $118.5 billion in assets is an amazing amount of money/production.

On a side note it is also great to see a Capitalist/Objectivist leading an integrated life. I have personally read many, many books on the great wealth creators of the past and find almost without exception that they were integrated within their business life but the total opposite in their personal lifes. So, It is great to see a real hero that is integrated in his thoughts and actions.

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I can't wait until BB&T reaches California, so I can switch banks!

Last year we switched to BB & T in Tallahassee, FL, and invested our retirement IRA and other banking with them. They are opening two more branches in Tallahassee soon, and more in Florida elsewhere. We are very pleased with the service and with the fact they are interested in PROFIT. The staff are quite competent and also provide personalized service, even bringing us a Christmas package last year. I never expected to see people straight out of "Atlas" at my local bank.

Congratulations to John Allison for his success!! He is an excellent example of Objectivist virtue in action.

Oh, yes, our financial advisor commented that Mr. Allison has his management staff read "Atlas Shrugged." (of course)

Objectivism is winning!

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