Good Debt, Bad Debt
Posted by Steve Markowitz on April 6, 2014
My life has centered around an organ business started by my father over seven decades ago, an experience offering me a long-term perspective of business. I have reflected why it survived, how it continued manufacturing in the US and also how it maintained a stable employment environment with more than 10 employees each having over 50 year’s tenure. That stability went beyond a desire to maintain local employment and cannot be disconnected from a financial philosophy focusing on long-term goals, instead of short–term financial gains. This led me to do what other aging Boomers have done, write a book.
Good Debt, Bad Debt and a Better Way Forwardoffers a company history starting with its leadership in analog sound technology, through introducing the world’s first digital music instrument, through today’s uniquely different (challenging) business environment. It reviews a corporate history of being privately owned, then going public, and more recently being private again. Throughout these changes there was a constant philosophy relating debt, a philosophy that has long been out of favor in business and within governmental organizations.
The book also places into context the problems within the financial services industry, its loss of ethical practices, which in part is derived from the industry’s promotion of debt for its profit. Finally, I review how the use of leverage has damaged many industries.
Writing the book has been a cathartic travel.