Star News

Corporate bond sales are back to levels not seen since April, as interest-rate swap spreads demonstrate investor confidence in containing Europe's debt crisis. Markets are moving past concern that the Euro region's struggle with budget deficits will undermine the global economic recovery. Corporate borrowers will in turn find it easier to meet debt obligations.

The corporate bond market is gaining strength after sale volumes slumped in May to their lowest levels since 2003. New issuance collapsed as investors grew concerned that budget deficits in Greece, Portugal, Ireland, Italy, and Spain would escalate into a credit crisis reminiscent of the subprime-mortgage meltdown. Spain's successful 3.5 billion euro bond auction and European policy makers' pledge to publish stress tests to boost transparency in the financial industry sparked rallies in stocks and bonds last week. U.S. corporate bond issuance rose 66% last week to $15.6 billion, the most in seven weeks; and sales in Europe climbed from 8.4 billion euro to 10.3 billion euro. We will keep you posted…

Lender Closing Sub-6% 10-Year Debt from $1.5 Million to $35 Million Nationwide

Penstar is currently working with a lending source actively closing acquisition and permanent loans on office, industrial, and retail properties located throughout the United States. Pricing for 10-year fixed rate money is 5.75% to 6.00%; 20-year money is priced at 6.50%. The maximum loan to value is 65% based upon today's value, and with a 25-year amortization schedule. 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

“How to Drive in Los Angeles”

The weekday morning rush hour is from 5:00 a.m. to noon. During the evening, the rush hour is from noon to 7:00 p.m. Friday's rush hour starts Thursday morning.

At a 4-way stop sign, vehicles with the loudest muffler proceed first; trucks with the biggest tires go second. In Malibu, SUV-driving mothers talking on their cell phones always have the right-of-way.

If you slow down upon approaching a yellow light, you will be rear-ended, ‘cussed’ out, and possibly shot.

Never honk at anyone. Ever. Seriously. It's another offense that can get you shot.

Road construction is continuous and permanent throughout LA and Orange County. Detour barrels are shifted during the overnight hours for your entertainment pleasure in making the following day's driving a bit more exciting.

Do not try to estimate travel time –– just leave Monday afternoon for Tuesday appointments, by noon Thursday for Friday, and right after church on Sunday for anything on Monday morning.

One of Los Angeles' busiest freeways called the 405 because no matter where you're headed it will take you 4 or 5 hours to get there on the 405.