Michelle Galanter Applebaum spent over 20 years at Salomon Brothers, in New York and Chicago. During her years on Wall Street, Ms. Applebaum was the #1-rated steel industry analyst according to Institutional Investor magazine from 1988 through 2003 and was a managing director with the firm. After leaving the Street in 2003, Ms. Applebaum formed Steel Market Intelligence, a 5-man boutique based in Chicago focusing on steel equities and commodity steel markets providing advisory services focused primarily on institutional investors. Ms. Applebaum is regularly quoted in publications such as The Wall Street Journal, Bloomberg News, and The New York Times. She makes frequent appearances on the business programs of CNN and CNBC and FOX, and was a featured guest on Wall Street Week with Louis Rukeyser. In 2008 our firm took less than 5% of its revenues from steel companies.