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 J. 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 - 11/29/2010 |
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| Greetings! |
I hope you had a wonderful Thanksgiving. As the holiday season starts to take hold of our already busy schedules, I would like to give you one more thing to think about (sorry). Now is the time when New Year's resolutions start to pop in to our minds. My tip this week, in fact this month, will be to think about your financial New Year's resolutions. Through the month of December I will share a few ideas for resolutions you can adopt. |
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Market Commentary |
 When the International Monetary Fund (IMF) and 15 Eurozone countries bailed out Greece in February 2010 with a 110 billion euro rescue package (worth approximately $146 billion), international financial experts speculated that the next bankrupt European country would be Portugal, Italy, Ireland or Spain. Now 9 months later, the other shoe has dropped and Irish eyes are not smiling. A 9-year, 85 billion euro bailout package for Ireland (equal to $113 billion) was announced yesterday (11/28/10) by the IMF, just days following massive protests by 50,000 frustrated workers over proposed budget cuts (worth 15 billion euro or $20 billion) recommended by the Irish government (source: Financial Times).
A 23% cut in Medicare payments to doctors servicing US seniors is scheduled to go into effect on Wednesday (12/01/10). The Senate voted on 11/18/10 to delay by just 1 month this reduction in Medicare pay to doctors, the 4th time this year the Senate has voted to postpone any Medicare pay cuts. The House of Representatives is expected to vote on the bill this week. Without any action by Congress, the initial 23% cut will be followed by an additional 6.5% cut on 1/01/11. Putting off both pay cuts until 1/01/12 will cost an estimated $15 billion. Putting off both pay cuts through the end of 2020 will cost an estimated $276 billion (source: Congressional Budget Office).
The deadline for final proposals from the 18-member Debt Commission (headed by Erskine Bowles and Alan Simpson) is this Wednesday (12/01/10). Americans may hear details of austerity plans not discussed in our country in many decades. All their ideas will likely fall into just 2 basic categories: 1) higher taxes and 2) lower spending (source: Commission on Fiscal Responsibility and Reform). |
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Notable Numbers | |
1. 10/90 SPLIT - The top 10% of taxpayers in the US report 46% of the nation's adjusted gross income (AGI) based upon 2008 tax data. The remaining 90% of taxpayers report the other 54% of AGI (source: IRS).
2. HOUSE POWER - The Republicans will be the majority party in the House of Representatives next year (2011), only the 17th year in the last 75 years (i.e., 1937-2011) that has occurred. Democrats have been the House majority party for the other 58 years or 77% of the time (source: House of Representatives).
3. TEN STRAIGHT - Employers in the private sector nationwide have added new employees for 10 consecutive months (January 2010 through October 2010) (source: Department of Labor).
4. OPTIMISTIC- Nearly half of Americans (47%) that were surveyed in October 2010 anticipate that they will be better off financially in 2011 than they were in 2010 (source: Money). |
Client Spotlight - November 2010
Chris Vernia, Yorktown Heights, NY
Double Image Sounds & Entertainment / Bounce the Party Place |
Q. What is Double Image Sounds & Entertainment?
A. A DJ/ Emcee entertainment company. We provide DJs, Emcee's, Bands and Musicians for parties/ events of any size.
Q. What makes you different from your competitors?
A. My strength, if you will, is that I have a knack for matching the DJ/ Entertainment with the event. Meaning each event has its' own feeling or personality, we take pride in recommending the entertainment that compliments your event rather than overtaking your event.
Q. What is Bounce the party place?
A. Bounce The Party Place is a brand new indoor event facility located at 1761 Front Street in Yorktown Heights, New York. Bounce caters to any party, event, corporate or social gathering. The room is equipped with all the necessary sound and video requirements you may need. It has a Miami nightclub feel that people really seem to like, especially with parties trending towards informal events these days.
Q. What other amenities does Bounce have to offer?
A. We can change the entire feel of the room. We can change the color (with our state of the art lighting systems), furniture (style and placement), sound (we also have a state of the art sound system). We even have a 20 foot projection screen. (see pictures below)
Q. Can you give me a few examples of the types of parties you have done?
A. Sure, Sweet 16s, Bar/ Bat Mitzvahs, Graduation, Anniversaries, children's parties, Corporate events to name a few. We can accommodate almost any request.
Q. What are your Phone #s?
A. Double Image Sounds & Entertainment (914) 773-1950
Bounce the Party Place (914) 302-2403
Q. Do you have a website/ email address?
A. Yes, www.DoubleImageOnline.com / www.BounceThePartyPlace.com / Chris@DoubleImageDJs.com
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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
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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.
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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.
NFP Securities, Inc. does not provide legal or tax advice.
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. |
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