Mon05022016

News

Loyola Corners economics, traffic rise to top of planning concerns

Loyola Corners economics, traffic rise to top of planning concerns

Alicia Castro/Town Crier
Loyola Bridge construction parallel to the Fremont Avenue frontage may lead officials to alter circulation plans for the area.

Loyola Corners stakeholders last week mulled the issues that will likely shape the area&rsquo...

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Schools

LAHS Green Team commemorates Earth Week

LAHS Green Team commemorates Earth Week


Traci Newell/Town Crier
Los Altos High School Green Team members, above, quiz their classmates about water conservation. The club distributed plants as prizes during the club’s Earth Week activities.

Members of the Los Altos High School Green...

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Community

Local pianist, 11, slated to perform Saturday at statewide competition

Local pianist, 11, slated to perform Saturday at statewide competition


Courtesy of the Cha family
Spencer Cha plays piano at a Santa Clara University recital. The sixth-grader also enjoys soccer, tennis, golf and skiing.

Spencer Cha has come a long way since he first sat down at the piano at age 2.

“I remem...

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Sports

Spartans net second place, eye top prize next season

Spartans net second place, eye top prize next season


Megan V. Winslow/Town Crier
Jeremy Hsu, Mountain View High’s top singles player, competes against Pinewood Thursday. The Spartans won the match 7-0.

With freshmen playing the top three spots in singles, the future of the Mountain View High boy...

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Comment

Los Altos at a leadership crossroads: Editorial

Don’t look now, but there could be some major changes ahead regarding how the Los Altos city government is run.

The current city council has the opportunity to hire a new city manager in the wake of Marcia Somers’ recent resignation. Fur...

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Special Sections

How to personalize the wedding bar

How to personalize the wedding bar


Christine Moore/Special to the Town Crier
A seasonal signature cocktail adds interest beyond the standard wedding bar’s spirits and mixers. Focus on one set of fresh ingredients, such as blueberries, blackberries and mint for a dose of budget...

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Business

Farmers prepare to market season's bounty

Farmers prepare to market season's bounty


Alicia Castro/Town Crier
Journeyman farmer Jen Friedlander waters Hidden Villa’s greenhouse plants, which will grow stronger in the controlled indoor environment before being transferred to the field outdoors.

Around Hidden Villa, the gree...

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People

BUOL JOANNE DOUGHERTY

BUOL JOANNE DOUGHERTY

1930-2016

Heaven gained a beautiful angel today. Our beloved mother’s blessed life ended in her Los Altos home surrounded by her loving family on April 18, 2016.

Buol Joanne Dougherty was born Sept. 28, 1930 in Chicago. At the age of two, M...

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Stepping Out

'Catch' comes to conclusion LA Stage Co. comedy  ends run this weekend

'Catch' comes to conclusion LA Stage Co. comedy ends run this weekend


Richard Mayer/Special to the Town Crier
Bryan Moriarty, left, stars as Yossarian and John Stephen King plays the Psychiatrist in Los Altos Stage Company’s “Catch-22.”

Los Altos Stage Company’s presentation of “Catch...

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Spiritual Life

Local vault company keeps it Los Altos confidential

These days, there aren't many businesses that proudly declare that they don't use a computer, don't want your Social Security number and will personally meet you at 3 a.m. - no questions asked.

For Gerald Colombi, the owner of Los Altos Vault & Safe Deposit Co., this "Miami Vice"-like scene is not that hard to envision. Fact is, if you're one of his clients and you need access to your safety deposit box at 3 a.m., he or one of his employees will be there to meet you.

That's because Colombi runs his business on the basis of strict confidentiality - what you keep here is secure here - and your identity is no one's business.

To illustrate this, Colombi draws a sharp distinction between Los Altos Vault and banks, which ask for Social Security numbers to establish an account.

"You've got to give them the Social Security number," Colombi said. "The confidentiality is not there… Anyone who has a safety-deposit box at a bank is insane.".

Colombi provides insights into why a bank can't compete against Los Altos Vault.

"No one can get information from us unless they get a court order," he said. "We're so private, we don't even have computers."

The vault, located on First Street, opened in the spring of 2003 and has 4,000 safety-deposit boxes in 10 different sizes, as large as 6 feet high, 2 feet wide and 2 feet deep.

And business seems to be good.

"We're extremely busy this year and we have more (safety deposit) containers on order," said John Raymond, a vault account executive and former specialist involved in security at the national and military level.

"We're not obliged to say how much capacity is in use," said Raymond, when asked what percentage of those 4,000 boxes are rented.

Colombi, who also owns the Los Altos Mail Office downtown, had the idea to build a private vault more than 20 years ago.

"A man came in and mentioned that he was going on a three-month cruise and he had something that he didn't want to leave at home," Colombi said. "We locked it in our safe. Within two years, our safe filled up" with items belonging to other customers.

And, according to Colombi, his vault operation has another special attribute.

"This is the only one of its kind in the USA," he said. "We get calls from as far away as New York."

Posing a hypothetical question to indicate his tolerance for risk, Colombi said, "You want to put up the millions to build this place? If someone has $6.7 million, are they going to build this? You could lose your (expletive) in a hurry."

Steve Fick, president of Borel Private Bank & Trust Co., agreed with the risk involved in a private vault operation.

"It's a large capital investment, and it's a very specialized-use building," Fick said. "Enormous bank vaults are not as common as they used to be.

"Safety-deposit boxes take up real estate, and it's not as cost effective for a bank. There's a place for them. They (Los Altos Vault) have a variety of sizes that we don't offer. I have referred clients to them."

At a bank, Fick said, client Social Security numbers are confined to income earned on assets.

"Banks have client Social Security numbers," he said. "We report tax information as applicable, interest earned and paid. We don't report that a client has a safety deposit box."

Today if a person wants to open a safety-deposit box, the Homeland Security Act requires the bank to ask for identification and an address, and it must associate that information with a specific box, Fick said.

"As a federally insured bank, we have to do what the government tells us to do," he said.

But banks also operate under strict rules of confidentiality, not unlike Los Altos Vault.

"We don't allow anyone into a safety-deposit box unless they present a subpoena or court order," said Beth Nguyen, branch manager at Downey Savings in Los Altos. "We have to have legal documentation, even if it's a family member … and I'd have our corporate offices review it first."

Joanne Kavalaris, vice president and branch manager at Bank of the West, said that the bank doesn't have a copy of the safety-deposit box keys, further noting the confidentiality and security of maintaining a safety-deposit box at a bank.

The government "cannot come in unannounced," Kavalaris said.

After verifying a court order, Kavalaris said, "We arrange for a bonded locksmith to drill open the box. We don't have a copy of the keys."

At Borel, the scenario is the same.

"I'd need to see a court order," Fick said. "We just can't do it because (the government) says. We'd have to drill out the box. Our client has the key."

Regarding security, Los Altos Vault has it in spades, but you won't get any specifics from vault employees.

"We have security systems that I can't discuss," Raymond said. "We totally lock down."

With round-the-clock access, Los Altos Vault does seem unique.

"If somebody said to me, 'Open at 3 a.m.,' I'll have a police backup," Raymond said. "We're at risk. We don't allow ourselves to be in our TV commercials. There are some pretty heavy-hitters coming in here."

Los Altos Vault & Safe Deposit Co. is located at 121 First St. For more information, call 949-5891.

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