Ayscuew - This is not about "taking sides". It's about being objective. Is bbt a good investment? At $21/ share imo it's a great bargain. Understanding portfolio accounting is very important when evaluating bbt.
Regarding bbt historical reserves, land lost 80% of its value. This is what really hurt bbt. I can't fault Allison or KIng.
Regarding Inlet's comment regarding recession, last week's data provided data showing modest growth going forward: railroad tonnage per mile up 5% plus, good Fed bank metrics for the 3rd qtr - 6% loan growth (annualized), private sector employment up 137k jobs, initial jobless claims holding at around 400k per week, ism report expanding and retail sales showing some nice growth for select retailers.
Also, I think many folks have completely ignored that US total manufacturing orders and shipments for August and YTD 2011 are up around 10% vs. last year. Not to shabby for an economy which lost 6/8 million direct and indirect jobs linked to residential/commercial construction. Don Johnson, marketing vp of GM had some encouraging words about car sales. Age of US car fleet is 10.9 years which I think is a record high.