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Debating Ayn Rand's life and books

On Thursday, John Allison, the long-time leader of BB&T bank, will be inducted in to the N.C. Business Hall of Fame. In addition to being a wildly successful banker, Allison is known for his strong belief if the theories of author Ayn Rand.

"Rand is an advocate of reason, individual rights and capitalism," Allison said in the Hall of Fame's release detailing his accomplishments. "In the long run, if the government violates individual rights, including the right to the product of your labor, the philosophic principles which have made America great will be destroyed."

Ayn Rand and her ideas and books have been in the news a lot of late, and are frequently cited by those critical of the government's unprecedented intervention in the economy over the last year.

A new book, "Ayn Rand and the World She Made" by Anne Heller, was recently published and was reviewed in the New York Times yesterday. Among the more interesting things included in Heller's book is that Rand gave up 7 cents per copy in royalties for "Atlas Shrugged" so that her famous, and famously long, radio address by the book's hero John Galt would not have to be edited down.

What would John Galt think of this?

2009 NC Business Hall of Fame class includes two from Raleigh

A former Raleigh mayor, a Raleigh restaurant entrepreneur and a Winston-Salem banker turned university professor will all be inducted in to the N.C. Business Hall of Fame next month in Charlotte.

Smedes York (at left), a developer who served as Raleigh mayor from 1979 to 1983, is being honored for his long career as a businessman, philanthropist and community booster.
York is chairman of three companies--McDonald York, York Properties and Prudential York Simpson Underwood--that today employ 600 people.

York will be joined by James Maynard, who along with his partner Bill Carl built Raleigh-based Golden Corral into a chain of 490 restaurants in 42 states that had annual revenue of $1.6 billion in 2008.

The third inductee is John Allison, who led BB&T Bank from $275 million in assets when he joined the firm in 1971 to more than $136 billion today. Allison is today a distinguished professor of practice at Wake Forest's business school.

Allison has also well known for being an enthusiastic advocate of the theories of the philosopher Ayn Rand.

The Hall of Fame's induction ceremony will take place Nov. 5 at The Weston in Charlotte.

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