Employing the same spirit as General Electric (GE) with its famous slogan, "Progress is our most important product," we dive into Apollo Investment's (OTC:AINV) last report gauging its progress toward a higher leveraged, lower risk investment business development company (NYSE:BDC). On November 9, Apollo reported net income of $0.53, $0.13 above analysts expectations, and net asset of $18.69 down $0.31 quarter over quarter. Weakness in energy holdings dropped the net asset value by $0.22. Repurchasing a long-term higher interest bond early made up most of the balance. The