Talk:BB&T
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[edit] Criticism of BB&T
I'm not really sure that this section is Wiki-friendly, but it sure seems like a love letter/press release without it.
[edit] Copyright Violation
Nearly all of the text was cut & pasted from the company's website. There's some very good historical info there, but it's a very lengthy quote and not NPOV.Son of Somebody 23:33, 15 June 2006 (UTC)
[edit] "No lending" section
While I appreciate the fine work you've put into this section, it seems to amount to a report about a BB&T press release which was designed to exploit sentiment surrounding the contentious Supreme Court ruling. Whether any bank actually follows a similar stated policy is unlikely to be reported by the bank or by independent journalists. Future "victims" of eminent domain will likely be unaware of the bank's policy, and extremely unlikely to follow any subsequent money trails. Presumably, banks will loan money to "beneficiary/ies" of eminent domain after the domain action, and these bodies are likely not to be the same legal or financial entities which benefitted from the original action.
In short, why should a report about a press release be part of an encyclopedic entry? The press release was designed to advance a non-NPOV image of the bank, and as a result, its inclusion here does the same. --Son of Somebody 23:33, 15 June 2006 (UTC)
[edit] Tax Evasion
(someone please insert this) In 1997, BB&T entered into a tax shelter transaction commonly known as Lease-in, Lease-Out (LILO) Transaction, in which it leased property from a foreign entity and then immediately leased the same property back to the entity. http://www.usdoj.gov/tax/BB&T_Order.pdf, see BB&T Corp. v. United States, 233 F.R.D. 447 (M.D.N.C., 2006) (editing help?) The transaction has since been ruled illegitimate by the IRS and is now listed on the IRS website as an abusive tax shelter. http://www.irs.gov/pub/irs-utl/rev_rul_1999-14.pdf, http://www.irs.gov/businesses/corporations/article/0,,id=120633,00.html.
After a tax deficiency was assessed against BB&T, BB&T sued for a tax refund in the United States Court for the Middle District of North Carolina. BB&T lost. Judge Tilley, writing for the Court, called the transaction "circular" and "tax driven."
