BB&T - A Bank with Principles
With all the scandals in the field of economics, it is positive to see a bank with sound ideas. Here is an excerpt from a statement by John A. Allison, Chairman and Chief Executive Officer of BB&T Corporation:
BB&T is a mission-driven organization with a clearly defined set of values. We encourage our employees to have a strong sense of purpose, a high level of self-esteem and the capacity to think clearly and logically.
We believe that competitive advantage is largely in the minds of our employees as represented by their capacity to turn rational ideas into action towards the accomplishment of our mission. (Our Philosophy, BBT.com)
Recently, the bank donated $2 million to the department of philosophy at the university of Texas. “The gift will be used to support research on Ayn Rand’s philosophy of “objectivism” for 10 years.”
It is an ongoing debate in academia regarding educational donations and if you the donor should include “attached strings” to the donations with stipulations on how you should use the money. Here is a quote from Craig Biddle’s article, Charlotte Observer Editorial Opposes Academic Freedom Regarding BB&T Grants.
Donating money without strings to universities is not noble; it is irrational and irresponsible. Nor does the attachment of strings to a donation in any way violate the autonomy of the recipient (be it a professor or department or university); he (or it) remains (and should remain) free to accept or reject the offer.
In sum, this is how educational donations should work: Professors and universities seeking funding for their courses should say—and be free to say—in effect, “Here is what we want to teach, and we will accept donations to teach it.” Likewise, businessmen and corporations who want to support higher education should say—and be free to say—in effect, “Here is what we would like to see taught, and we’re willing to donate money to those who are willing to teach it.” To argue against this approach is to argue against academic freedom and moral responsibility. (Capitalism Magazine, 03/31/08.)
What do you say?
