Tue06302015

News

LAH council approves  Page Mill Road expansion

LAH council approves Page Mill Road expansion


Megan V. Winslow/Town Crier
The Los Altos Hills City Council endorsed a plan to widen the congested Page Mill Road to six lanes between the Interstate 280 interchange and Foothill Expressway.

Infamously congested Page Mill Road should be widened to ...

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Schools

Local muralist tells a story of young Los Altos at two schools

Local muralist tells a story of young Los Altos at two schools


Eliza Ridgeway/Town Crier
Los Altos muralist Morgan Bricca, above, created a work at Covington School commissioned by the Class of 2015.

Just as school ended this year, new color bloomed on two Los Altos campuses – public art projects commissi...

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Community

Los Altos girl out to 'squash' inequality: 10-year-old raises funds for female players with motto Equal pay for play

Los Altos girl out to 'squash' inequality: 10-year-old raises funds for female players with motto Equal pay for play


Courtesy of Lisa Bardin
Mika Bardin displays a certificate of participation she received at the 2015 U.S. Junior Squash Championships. Although Mika is not competing in the upcoming NetSuite Open Squash Championships, she is helping other female pl...

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Sports

Hurdling adversity

Hurdling adversity


courtesy of Nicole Goodwin
Ella Goodwin, hurdling, above, has come a long way since her early-childhood battle with leukemia.

While Nicole Goodwin is proud of daughter Ella’s athletic achievements, it’s not her skills on the soccer field...

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Comment

No confidence in civic center proposals: Editorial

Few Los Altos issues have become more convoluted than the development of the 18-acre Hillview civic center property. Most agree that the area, as currently configured, needs improvement. But nothing has happened in the nearly 10 years since serious d...

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Special Sections

Star-spangled manor: Orange Avenue home boasts Americana theme

Star-spangled manor: Orange Avenue home boasts Americana theme


Megan V. WInslow/Town Crier
Los Altos resident Pinky Whelan’s Orange Avenue home features a patriotic theme, evident in her living room decor, her historical collections and displays and her welcoming entrance.

Let’s hear it for the red...

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Business

Thai Silks shutters Los Altos store this month

Thai Silks shutters Los Altos store this month


Megan V. Winslow/Town Crier
After more than 50 years in business in downtown Los Altos, Thai Silks is closing up shop at 252 State St. by the end of the month. The store will continue to offer its inventory online and via phone.

A longtime downtown ...

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Books

People

ALAN FRAZIER KREMEN, MD, PHD

ALAN FRAZIER KREMEN, MD, PHD

Alan Frazier Kremen, MD, PhD, aged 68, loving father & surgeon, of Stockton peacefully passed away on June 13th, 2015.

Born in Minneapolis on December 17, 1946, he received a BA from Stanford University, 1968, a PhD in Philosophy from the Univ...

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Travel

Venetian spa offers ways to de-stress

Venetian spa offers ways to de-stress


Courtesy of The VEnetian
The HydroSpa in the Canyon Ranch SpaClub at The Venetian in Las Vegas offers a muscle-relaxing bath and radiant lounge chairs.

Vegas cab drivers usually ask if you won or lost as soon as you get in their vehicles. They assum...

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Stepping Out

'Town' closes down

'Town' closes down


Chris Peoples/Special to the Town Crier
Hope Cladwell (played by Krista Joy Serpa) and Bobby Strong (Lewis Rawlinson) get romantic during their duet in “Urinetown: The Musical.”

The Los Altos Stage Company production of “Urinetown: The Musical” ...

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Spiritual Life

Magazine

Living it up Older adults aim to age in place

Living it up Older adults aim to age in place


Megan V. Winslow/Town Crier
Local enthusiasts flock to the Los Altos Senior Center to play bocce ball. The center hosts informal games four days a week and occasional tournaments.

As baby boomers in Los Altos, Los Altos Hills and Mountain View nose...

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Inside Mountain View

Carrying the torch

Carrying the torch


Members of the Mountain View Police Department carry the Special Olympics torch as they run along El Camino Real between Sunnyvale and Palo Alto June 18. Members of the department participate in the relay annually to show their support for Spec...

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Judge rules against local businessman in Ponzi-like case

After a year of back-and-forth, a judge concluded this week that Los Altos resident Mark Feathers and his company, Small Business Capital Corp., violated federal securities and exchange laws.

U.S. District Judge Edward J. Davila accepted Securities and Exchange Commission evidence that because of fraud and mismanagement, SB Capital’s 400 investors have lost approximately 25 percent of the $42 million they invested.

In an order filed Friday, Davila granted the SEC’s request for a summary judgment and denied Feathers’ competing request for the same. He ordered the “disgorgement of ill-gotten gains” and set a hearing date Oct. 22 to consider “what remedies are to be granted and in what amounts.”

A court renders a summary judgment when a judge finds no genuine dispute as to any material fact – in other words, when evidence appears so conclusive as to not require a full trial. Representing himself and his company, Feathers had to show what Davila called a “genuine issue for trial.” In his order, Davila laid out why Feathers’ submissions to the court did not meet that standard and discussed to what extent the court had to cut Feathers some slack – to “liberally construe” his submissions – because he represented himself without a lawyer. Evidence submitted to the court must include affidavits or “other evidentiary material,” and Davila described Feathers’ submissions as falling short of that standard.

“I have been outnumbered by a large margin in the manpower necessary to present facts, never mind putting them into the right legal framework,” Feathers told the Town Crier in an email.

He wrote to investors that he would appeal the judgment.

Investors, many of them Los Altos residents, bought into two mortgage investment funds Feathers managed from an office on San Antonio Road. The SEC contended that Feathers transferred money from the funds to pay expenses and make cash distributions to investors that masqueraded as “returns on investment,” maintaining an illusion of profitability.

SEC attorney John Bulgozdy described the process of using investor money to pay returns as “Ponzi-like.” Feathers maintained that because he disclosed the loans and transfers to investors, his actions were aboveboard and not in fact evidence of fraud and misrepresentation.

Feathers submitted hundreds of documents including SB Capital paperwork and emails to the court, but Davila wrote that Feathers didn’t indicate with sufficient specificity what he believed they proved – “It is not the task of the court to comb through the record in search of genuine issue of triable fact.”

In his order, Davila referenced testimony from an auditor and a consultant suggesting that Feathers loaned himself money from the funds, then documented it in a way that made the business appear to still be generating profit.

Davila had to weigh whether a “reasonable investor” might have made a different decision with his or her money if he or she had known about the loans and money transfers at SB Capital. He concluded, based in part on declarations two investors made to the SEC, that investors might have withdrawn their investments if they had known what the company was doing.

Davila declared that Feathers’ accounting demonstrated an intent to deceive or, at a minimum, “extreme recklessness in his management of the (f)unds.”

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