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September 13 2012
or--0
Back Home ••• Again
Aaron Goldstein finds Metro Detroit
is the place to be.
Allan Nahajewski
Contributing Writer
R
eversing the exodus of tal-
ented young people has been
a recurring theme among
state leaders in recent years, so when
a 30-year-old financial whiz from the
University of Michigan comes back to
the Detroit area, the question to ask: Is
this an exception — or is it a trend?
"I used to think it was the exception,
but over the last six-12 months, I've
known quite a lot of people who have
come back," says Aaron Goldstein, the
new chief financial officer of Arcadia
Services, a national home health care
company based in Southfield.
"A lot of people of my generation
left following school to go work other
places, and now when it comes time
to raise a family, I think they're really
seeing the value of being back among
family and being in a place like Metro
Detroit," he adds. "It's a good place to
raise a family'
Goldstein grew up in Ann Arbor
before moving to upstate New York
to attend the University of Rochester.
From there, he moved to Chicago,
where he worked for three years as
a securities trader and analyst for
Northern Trust Global Investments.
His first return to the state was
in 2007 to work on his MBA at the
University of Michigan, but upon
graduation, he returned to Chicago
for three more years to work for AMI
Holding Corp.
This year, an opportunity to come
back home arose. Goldstein was
involved in a change of ownership
transaction for Arcadia Services. The
firm had been owned by a public com-
pany headquartered in Indianapolis,
which decided to sell it to a group of
private investors. Goldstein became
Arcadia Services' CFO.
Along with his wife, Alison, and
twin 3-year-old daughters Jordyn and
Leah, he moved back from Chicago in
mid-June. Members of Temple Beth El,
the Goldsteins will soon be looking for
a permanent residence. "We're back for
good," he says.
Arcadia Services has about 60
employees in Southfield and about
150 administrative staff nationwide, in
addition to between 3,000 and 4,000
caregivers at any given time.
"Our core business is providing in-
home care for people, as opposed to a
long-term care facility," he says. "The
Aaron Goldstein
company is doing well now. There
were some challenges in being a part
of a holding company, which we are
now free and clear of. Now the focus
of the company can be on home health
care. And it's an exciting company.
"I don't know if there's such a thing
as a typical day," he adds.
"There are a lot of meetings and
phone calls about various aspects of
the business, dissecting where we
are generating revenue and margin,
where we're looking to grow the
business, deciding where to allocate
resources for growth, what markets
to invest additional capital into, what
markets to focus on, what to do with
underperforming markets from the
standpoint of bringing in an addi-
tional business partner or adding
salespeople, or merging that into an
affiliate.
"We have a lot of various options
within the company, so a lot of that
falls upon my desk."
Goldstein talked about Arcadia's
strengths as a company.
"It comes down to the quality of our
caregivers and the variety of tiers of
care," he says.
"For example, around Metro Detroit,
we offer the Arcadia Select Program,
which is tailored toward a more
demanding clientele, so we give our
caregivers a good deal of hospitality
training in addition to standard care-
giver training.
"We're able to provide an additional
skill set. That level of training is some-
thing that not every organization is
going to have."
Goldstein's hobbies? "I really like
to play golf, and I like University of
Michigan football. I have season tick-
ets again. It's fun to be back.
"We were looking for an opportunity
to come home. I enjoyed growing up
in Michigan. My family is here; my
wife's family is here. My brother just
came back.
"Everybody is coming back here, so
it's a natural fit." Li