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
 
for the week of - 04/12/2010
In This Issue
Market Commentary
Notable Numbers
Client Spotlight
Please Join Our Mailing List!

Quick Links
Greetings!
JP Bio Pic
I hope you're getting the  chance to enjoy the beautiful and much overdue Spring weather.  As I start my training journey for my Marathon this fall, I find the most enjoyable part will simply be getting to spend time outdoors.
 
I hope you have a great week.

Market Commentary

 
JP Bio Pic
Treasury Secretary Tim Geithner's trip to Beijing last Thursday (4/08/10) was announced just 1 day before the surprise meeting took place.  Geithner extended his scheduled 2-day conference in India to include a "fence-mending" summit with a top Chinese economic official.  The White House is hopeful that progress may have been achieved on the upward movement of the Chinese currency (renminbi), a change that China has blocked for the last 2 years.  The undervalued renminbi lowers the cost of Chinese exports (sold to America) as well as raising the cost of US exports (sold to China), frustrating American corporations competing with the Asian superpower (source: White House). 
 
Alan Greenspan and Bob Rubin, previously thought of as 2 of the smartest men in the US financial world, sat in the hot seat before the Financial Crisis Inquiry Committee last week. Former Fed Chairman Greenspan consistently deflected criticism of his handling of subprime mortgages, interest rates bubbles and credit default swaps. Greenspan conceded that he was "wrong 30% of the time" but refused to accept any blame for our country's financial woes. Rubin, a former Wall Street executive and Treasury Secretary during the Clinton administration, was more contrite. He apologized to the committee, admitting that "we all bear responsibility for not recognizing this (the mortgage crisis), and I deeply regret that" (source: Congress).               
 
The average interest rate nationwide on 30-year fixed rate mortgages has now climbed for 4 consecutive weeks, reaching 5.21% last Thursday (4/08/10). Market watchers are nervous that higher mortgage rates could slow down our country's housing recovery (source: Freddie Mac).

Notable Numbers

 
1.    THE BEST - As of 2/28/10, the S&P 500 had a trailing 12-month total return of +53.6%, a performance better than any 1-year return for the stock index at the end of any month in the last 20 years.  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.     ALMOST A TRILLION -The total capitalization of the US stock market increased by $900 billion during the first quarter of 2010 to $14.2 trillion. The value of the US stock market was $13.3 trillion at the end of calendar year 2009 (source: BTN Research).  
 
3.     PAID OFF? -52% of retirees are still making monthly payments on home mortgage debt (source: SOA).  
 
4.     UTILIZATION HAS INCREASED -Americans aged 55-64 that go to an emergency room seeking medical assistance are 3.6 times as likely today to receive a MRI (Magnetic resonance imaging) or a CT scan (Computed tomography) as they were 10 years ago (source: Department of Health and Human Services).

Client  Spotlight - April 2010

Joe Ruggiero, Dom & Vinnie's Restaurant
 
Butch GilbertOur client in the "Spotlight" for April is Joe Ruggiero. Joe is the Co-Owner of Dom & Vinnie's Restaurant in Yonkers, NY Joe & his wife, Ann, live in Westchester and have three beautiful children.
Q. What type of restaurant is Dom & Vinnie's?
A. An authentic family style Italian pizzeria/restaurant.
 
Q. Where is the restaurant located?
A. 351 Saw Mill River Rd, Yonkers, NY 10701
 
Q. What hours are you open?
A. We're open 7 days a week for lunch and dinner.
 
Q. What is the Phone #?
A. (914) 476-6666
 
Q. Do you have a Website/ Email?
A. Yes, www.DomNVinnie.com / DomNVinnie@yahoo.com 
Q. Has the restaurant won any awards?
A. Yes, several including Westchester Magazines "Voters Choice Award" for best Pizza.
 
Q. Are reservations needed/ suggested?
A. Not usually, if there is a group of 6 or more it would be a good idea. We always do our best to get our customers seated right away.
 
Q. Can you accommodate Catering/ Parties/ Events?
A. Absolutely, we have a second dining room that accommodates up to 40 people or we can supply catering at offsite events.
 
Q. What are a few of your most popular dishes?
A. There are several.
·         Rigatoni Napolitano (W/ moms small meatballs and sauce)
·         Penne Montemara (Shrimp & Arugula in a pink sauce)
·         Chicken Scarparello
·         Veal Chop W/ Cherry peppers  & Potatoes
·         Mom's Homemade Cheesecake
·         Daily Specials are listed on our website along with our regular menus.
 
Q. Sounds like you have a wide variety to choose from?
A. Oh yes, and if there's something a customer wants and it's not on our menu, we'll happily prepare it for them.
 
Q. How did the restaurant get started?
A. My father Dom & my uncle Vinnie opened a pizzeria/restaurant in Ardsley in 1971. Ardsley Pizzeria served pizza in the front and had a small restaurant in the back. My Mom, Maria and Aunt, Ida, ran the kitchen in the back while Dom & Vinnie made pizza in the front. They sold in 1985 and set up shop in the current location in Yonkers.  I took over my father's share of the restaurant around 1996 after finishing Law School at Fordham University. I was only supposed to be here on a temporary basis but I absolutely fell in love with the customers and the business. Although my partner (and cousin) Mike and I run the business now, we keep our parents involved. They're great to turn to for "old fashioned guidance and advice". They also come in every morning and help. My father comes in and bakes all of the breads while my mother makes the pastries every morning.
 
Q. What changes are you most proud of?
A. Keeping the quality and flavor of our foods while modernizing the behind the scenes operations, such as adding a website and delivery on the weekends.
Joe has made this gracious offer to you or any one you refer to his restaurant.
Please go see him. Enjoy!
 
 Enjoy a complementary dessert with the purchase of any dinner entree. (dine-in only)
 
Save 20% off of Dine-in Catering with 15 or more guests.
 
Save 15% off of Take-out Catering purchases of $200.00 or more.  
 
 print this coupon and present to your server         JP Bio Pic  J. Pink Associates.
Offer Expires: 5/31/2010                     Can not combined with any other offers                  
 
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.