Steven Markowitz’s entire professional life has been with Allen Organ Company, the world’s largest organ builder, becoming president in 1990. Allen’s manufacturing has always been in the United States.
Markowitz guided Allen through a successful diversification into data communications. After that subsidiary’s sales increased more than 20 times, in 2006 Allen divested it and Markowitz took the musical instrument and contract assembly businesses private in a debt-free transaction.
Throughout Allen’s history it avoided excessive debt, which benefited stakeholders, employees and the local community. In doing so it ignored the financial services industry’s advice that promoted debt for the short-term benefit of a few stakeholders, a finance method that gutted many American industries.
Markowitz soon realized that his experiences gave him something to share with other small business owners. Thus Good Debt, Bad Debt and a Better Way Forward was born. There is a way to navigate business without resorting to excessive debt. Markowitz has proven it.