Star News

The U.S. economy expanded at a rate of 3.2% in the first quarter of 2010 as households spent more freely, setting the stage for gains in employment that may help broaden and accelerate economic recovery.

Figures from the Commerce Department this week indicated that the increase in the gross domestic product was in line with the median estimate by economists, and capped the biggest 6-month gain since 2003. Consumer spending rose at its highest rate in 3 years.

Consumers may play a more prominent role in the recovery by sustaining the rebound as growing sales at companies including General Electric and Caterpillar increase their respective workforce. The Fed’s preferred measure of inflation climbed at the slowest pace on record, emphasizing policy makers' decision to keep interest rates low. We will keep you posted…

Closed $4,260,000 Single Tenant Retail Property Loan

This week, Penstar closed the $4,260,000 refinance of a single-tenant retail property located in northwestern Los Angeles County. The property is currently leased to a strong regional tenant under a 15-year term, with rental escalations of 10% every 5 years. The lender provided a 10-year fixed rate loan at 6.85% and a 25-year amortization. To learn more, please contact Steven Hamermesh at (818) 883-9609 or Hamer@PenstarAdvisors.com.

Helpful Humor

The best antidote for those challenging transactions is to take a moment to have a hearty laugh. Helpful humor is our way of infusing laughter into your work-week

“A Tip for an Eight”

A blackjack dealer and a player with a 13 count in his hand were arguing about whether or not it was appropriate for the dealer to receive a tip.

The player declared, “When I get bad cards, it's not the blackjack dealer's fault.” “Accordingly,” he continued, “when I get good cards, the blackjack dealer obviously had nothing to do with it.” “So why should he receive a tip?” he reasoned.

“When you eat out, do you tip the waiter?” asked the dealer. “Absolutely,” confirmed the player.

“Well,” the dealer continued, “the waiter serves you by presenting your meal.” “I am serving you with cards.” “You should give me a tip!” exclaimed the dealer.

“Okay,” the player reasoned, “But, the waiter serves me with exactly what I ask for.” “So, give me an eight and we'll talk about the tip!”