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  • normlasky normlasky May 13, 2012 7:42 AM Flag

    Crump Insurance

    Don't forget the amortization impact on eps. I did not take that into account before - about $10 million increase in quarterly amortization. Including amortization I'm looking at 1.5 to 2 cent eps increase in 2nd qtr. from crump before acquisition charges.

    To calculate an irr on a pretax basis while the textbook definition is aftertax would violate basic principles of honesty and fairness and bbt core values. I know Kelly King would never do something like this.
    King got crump at a good value and I believe it spins off cash in excess of 15% annually.

    And yes, the valuation allowance charge-offs are still vividly in my mind but who in the world could project that land values would drop close to nothing? Besides King's back end approach minimized shareholder dilution.

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