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In My Book
Debt is Weapon of Enemies of Good Business
Debt is a major weapon of the enemies of good businesses.
For example:
"The investors who acquired Harry & David in 2004 first loaded it up with debt to finance the deal. Then they piled on more debt a few months later to pay themselves back all the cash they put up to buy the company."[1]
A couple years later, they had to lay off 1/3 of the employees and cut back on raises and benefits with the interest payments on the debt being a significant drag on the business.
This is nothing more than Capitalistic Thievery and a continuation of the "transfer of wealth."
[1] Popper, Nathaniel, "Harry & David is in turmoil,"
Los Angeles Times, 2010-09-19
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