Friday, October 3, 2008

Bittersweet goodbye to BB&T investment.

I'm out, through the gate, not looking back, as of today.

Ever since John Allison announced his plan to retire from the bank, I've been questioning my allegiance to the brand. So much of what I know about the brand character and values is tied directly to John. As time went by the last few weeks, with Paulson calling for the bailout and the depths of the toxicity plaguing the industry becoming undeniable, my thoughts continued to turn to John's departure, his devotion to Ayn Rand and objectivism, his timing. And, of course, I questioned who would, or could, steward the brand going forward.

To quote Dr. Seuss, I did not like it, not one little bit. So today, during the morning mini-rally, I said goodbye, happy to book the gain while it lasted.

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