JP Bio PicJ. PINK ASSOCIATES, Inc.,

FINANCIAL ADVISORS
 
 
555 Taxter Rd. Suite 190                                      Ph- (914)524-7770
Elmsford, NY  10523                                          Fax- (914)524-7771
 
 
500 Summit Lake Dr. Suite 120
Valhalla, NY  10595
Weekly Market Review
In This Issue
Market Commentary
Notable Numbers
Client Spotlight
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Greetings!
JP Bio PicI don't know about you but I'm 100% ready for spring. If I never pick up a snow shovel, other than to hand one to someone else, I'll be perfectly happy. 
 
As you can see we have a new look and format as we kick off our "Client Spotlight" section.  Please take a moment to read about Butch and his company. You will find his contact information included in the article.

Market Commentary

 
JP Bio PicThe S&P 500 has moved sideways for the last 3 months, closing on Friday (2/26/10) at 1104, just 1 point higher than its 1103 close from 12/07/09.  After the first 2 months of 2010, the S&P 500 is down 0.6% (total return) as March trading begins today.  As we approach the 1-year anniversary of the 3/09/09 bear market closing low of 677, stock investors seem to alternate between the optimism of a promising recovery to the pessimism driven by too few jobs and too much debt (source: BTN Research). 
 
The US economy grew by +5.9% in the 4th quarter (i.e., quarter-over-quarter change expressed as an annualized result), the economy's best performance since the 3rd quarter of 2003.  Fed Chairman Ben Bernanke reiterated before Congress last week the message that he has been saying for some time: short-term interest rates are likely to remain low for "several more months."  What no one knows however is how much spillover effect that will have on longer term borrowing rates such as the interest rate on home mortgages (source: Commerce Department, Federal Reserve).  
 
The much ballyhooed health care summit last Thursday (2/25/10) may not have changed anyone's mind in Washington or on Main Street, but the television coverage did highlight the policy differences between the 2 parties.  The Democrats may use the 51-vote tactic of "reconciliation" in the Senate to pass health care reform, an approach used by both parties 22 separate times in the last 30 years (source: White House). 

Notable Numbers

1.     NICE JOB - The S&P 500 stock index was up +3.1% (total return) in February 2010, its best February performance since 1998.  The S&P 500 is an unmanaged index of 500 widely held stocks that is generally considered representative of the US stock market (source: BTN Research).  
 
2.     JUST FIVE YEARS OFF - Our government's projected tax receipts of $2.6 trillion in fiscal year 2011 (i.e., the 12 months beginning 10/01/10) is essentially equal to our government's actual spending of $2.7 trillion in fiscal year 2006 (source White House).   
 
3.     BAD BANKS - The 22 bank failures that have occurred in the USA through 2/28/10 will cost taxpayers $4.4 billion or an average fee of $200 million per failed bank.  The biggest outlay for taxpayers YTD was the failure of La Jolla Bank (La Jolla, CA), estimated to cost $882 million (source: FDIC).  
 
4.     HARD WORKER - The average productivity of the American worker (defined as output per hour of work) has increased +30% over the last decade (i.e., 2000-2009).  Mathematically this means the quantity of work done in 1999 during a 40-hour work week could now be completed in less than 31 hours (source: Department of Labor).

Client  Spotlight - Butch Gilbert, Effective Electric

 
Butch GilbertOur first client in the "Spotlight" is Butch Gilbert.
 
Butch and his wife, Danielle live in Cortlandt Manor, NY with their two children. Butch owns Effective Electric LLC. Effective Electric is a full service electrical company. 
 
Q. What type of customers do you serve?
A. We are able to handle all phases of residential and light commercial electrical work.
 
Q. Is any job too small, or for that matter, too big?
A. No, we are full service electrical contractor. We will provide services from replacing a broken light fixture or switch, to installing new electrical wiring for a renovation or addition.
 
Q. What geographical area do you serve?
A. All of Westchester and Putnam counties. We also serve the neighboring sections in CT.
 
Q. Do you have a website?
A. Yes, www.EffectiveElectric.net 

Q. How can people contact you if they need you?
A. They can call me at (914) 737-2651 or they can email me at EffectiveElec@aol.com 

Q. How do you typically get new Customers?
A. The majority of our new business comes in as referrals from our existing customers.
 
Q. What sets you apart from your competition?
A. We work directly with the customer and keep them informed/ involved from the estimate to
    completion, while always keeping their budget in mind.
 
Q. Are you licensed?
A. We are fully licensed and insured in Westchester and Putnam counties as well as in CT.
 
Q. Do you have a slogan?
A. "We make sure you're never in the dark."
 
Q. If a customer needs work that requires a permit; can you help in getting that permit?
A. Yes, an electrician is required to obtain the proper permits for any job they do where a permit    is necessary. We often have to show that our insurances and licenses are current and in good         standing in order to obtain that permit.
 
Q. Do you charge for job estimates? If so, what is that fee?
A. No.
 
Q. Is there a way to be sure an electrician is licensed and insured??
A. Yes, you can check them out at (www.westchestergov.com) then go to consumer protection, then to the specific contractor.  You should ALWAYS be sure that the electrician you hire is licensed and insured.
 
As always, if there's anything we can help you with, please feel free to call the office anytime.
 
I hope you have a great week.
 
 
Sincerely,
 
John

John W. Pink, Sr.
J. Pink Associates, Inc.,
Financial Advisors
 
 
   At J. Pink Associates, we do comprehansive financial planning and wealth management for families and small businesses by getting to know the unique details of your financial
world and thoughtfully crafting a strategy to identify and support your goals
 
This material represents as assessment of the market and economic environment as a specific point in time and is not intended to be a forecast of future events, or a guarantee of future events, or a guaranteew of future results.  Forward-looking statements are subject to certain risks and uncertainties.  Actual results, performance, or achievements may differ materially from those expressed or implied.  Information is based on data gathered from what we believe are reliable sources.  It is not guaranteed by NFP Securities, Inc. as to accuracy, does notpurport to be complete and is not intended to be used as a primary basis for investment decisions.  It should also not be construed as advice meeting the particular investment needs of any investor.  The indices mentioned are unmanaged and cannot be directly invested into.  Part performance does not guarantee future results.  The S&P 500 is an unmanaged index of 600 widely held stocks that is generally considered representative of the US stock market.
 
Securities and Investment Advisory Services offered through NFP Securities, INc. a Broker/Dealer, Member FINRA/SIPC and a Federally Registerd INvestment Advisor.
 
 NFP Securities, Inc. does not offer tax or legal advice NFP Securities, Inc. is not affiliated with J. Pink Associates, Inc., Financial Advisors.