Pieces of You by J F Elferdink

theory was that Gina’s primary purpose was to impress, rather than to inform, and experience had never disproved it.
    “Thank you, Jim. Colleagues, this is a once-in-a-lifetime opportunity for alert, aggressive bankers . T he Act has changed the depreciation rules for commercial real estate, allowing investors in commercial property to depreciate a building over fifteen years instead of forty.” Gina was in her element, lecturing a roomful of men.
    “Moreover, the Accelerated Cost Recovery System permits…”
    Mark, having drifted off, was nudged back to consciousness just in time to hear Gina intone : “…a phenomenal opportunity for our bank to heavily market commercial real estate loans.”
    Jim jumped in.
    “Let me point out that highly respected economists are predicting the demand for commercial space — office, retail and industrial — will remain strong. Business journals and national news media are forecasting a continued construction boom throughout the decade. With loan demand exceptionally high and the Savings & Loan Associations eager to build loan portfolios, I propose we act aggressively. Any questions so far?”
    Jake, the senior member of this group, responded.
    “How aggressive, Jim? I’ve seen boom and bust cycles in real estate . I t makes me wonder if there is good reason to be cautious about chasing commercial real estate loans, even if they’re now legal.”              
    Jim’s answer was an obvious ploy to deter discussion. “Now, Jake, I’ve not heard of you being cautious about chasing the ladies, even though that’s a genuinely high risk venture.”
    Jake seemed only slightly embarrassed as the room erupted in laughter; it was a distraction welcomed by everyone. For the past few minutes, tension around the table had been rising, edging toward the consistency of oatmeal but without lumps. They all knew the lumps would soon appear if goals weren’t established.
    Having allowed the laughter to subside, Jim got to the point of the meeting.
    “You’ve heard why we can be the market leader in commercial real estate lending and seated around this table is the group to make it happen … with a little incentive . A bonus plan is almost ready for CEO approval and I’ve heard it could make a sizable number of your dreams come true.” His gaze swept around the table.
    “So, team, how far can we go? I want you to give me your best estimate of how much more of the market we can capture. Can any of you envision increasing our commercial real estate portfolio by, say, fifty percent?”
    An audible gasp was the only response for what seemed to be an interminable moment; the kind during which a new nation is born while nobody’s looking.  Incredulousness was clearly visible in every face fixed on Jim’s. Then one hand went up.
    “Yes, Mark.”
    “If we add that many loans —a nd your suggestion amounts to adding over thirteen million dollars to our loan portfolio — how do we preserve the bank’s stability? Won’t we be greatly undercapitalized?”
    “Isn’t the more pressing question: Will current customers and new businesses continue to choose our bank over the additional competition?’ Relax, Mark, we aren’t changing our policy on collateral. We’ll still use our pool of experienced appraisers to confirm real estate value and we’ll still expect most of our borrowers to have a twenty-five percent down payment.” Jim’s smile bordered on the patronizing.
    “Deregulation is a win-win situation. We approve more loans by making cash flow projections more elastic; our customers make more money investing in real estate. They grow their businesses and add workers ; those fatter paychecks fuel a stronger economy; local prosperity is ignited by our loans and secured by the best collateral: real estate. Does that ease your mind Mark?”
    Mark gave a quick nod, well aware that any more of what might be interpreted as objections would not be received favorably,