Fri04182014

News

City chips in $7,000 for SFMOMA installation

City chips in $7,000 for SFMOMA installation


Town Crier File Photo
The Los Altos City Council earmarked $7,000 for the purchase of Chris Johanson’s artwork.

The city of Los Altos will contribute $7,000 toward the purchase of a $28,000 art installation featured in the San Francisco Museum...

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Schools

LASD students celebrate service learning

LASD students celebrate service learning


Courtesy of Sandra McGonagle
We Day, held March 26 at Oracle Arena in Oakland, exhorts students in the Los Altos School District to effect positive change.

More than 150 Los Altos School District student leaders joined 16,000 Bay Area students to ce...

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Community

Film career launches with Cannes screening

Film career launches with Cannes screening


Courtesy of Zachary Ready
Los Altos native Zachary Ready, front left, and co-director Andrew Cathey, right, celebrate their Campus MovieFest awards.

After learning the art of filmmaking as a child in the front yard of his family’s Los Altos home...

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Sports

Sports on the Side

Pathways Run/Walk slated May 10 in Hills

The 13th annual Pathways Run/Walk is scheduled 9 a.m. May 10 at Westwind Community Barn, 27210 Altamont Road, Los Altos Hills. The course wends through Byrne Preserve and onto the Los Altos Hills Pathways sys...

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Comment

Now is the time to expand parking: Editorial

Just a few short years ago, vacancies dotted downtown Los Altos. Property owners had a hard time attracting businesses because there was a shortage of customers. That is no longer true. Now, the cry is: Where are my customers going to park?

The city...

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Special Sections

Epicurean's Mary Clark Bartlett: Serving sustainability

Epicurean's Mary Clark Bartlett: Serving sustainability


Courtesy of Michael McTighe
Mary Clark Bartlett is founder and CEO of Los Altos-based Epicurean Group.

Labels such as “healthy,” “organic” and “green” are rarely used to describe the meals served in most corporate cafes in Silicon Valley. But on...

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Business

Local realtor honored for volunteer efforts

Local realtor honored for volunteer efforts


Ellie Van Houtte/Town Crier
Coldwell Banker recently recognized realtor Kim Copher, right, for her philanthropic efforts. Copher and colleague Alan Russell, left, volunteer at Reach Potential Movement, where they collect books for its Bookshelf in ...

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Books

Local Author Spotlight

In an effort to support authors from Los Altos, Los Altos Hills and Mountain View, many self-published, Book Buzz periodically spotlights their books and offers information on where to purchase them. Local authors are encouraged to submit brief summa...

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People

Noteworthy

RotaCare honors local volunteer

RotaCare Bay Area honored Jim Cochran of the RotaCare Mountain View Free Medical Clinic with the Outstanding Clinic Volunteer Award April 10 for his commitment to RotaCare’s mission of providing free medical care to t...

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Travel

Sausalito: Explore the historical city with world-class views

Sausalito: Explore the historical city with world-class views


Eren Göknar/ Special to the Town Crier
Sausalito offers panoramic views of the San Francisco Bay. A number of companies schedule boat tours that sail past Angel Island and Alcatraz.

On a clear day, Sausalito offers spectacular views of the San Franc...

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Stepping Out

Western Ballet performs this weekend  at Smithwick Theatre in Los Altos Hills

Western Ballet performs this weekend at Smithwick Theatre in Los Altos Hills


Courtesy of Alexi Zubiria
Western Ballet’s “La Fille Mal Gardée” features Alison Share and Maykel Solas. The production runs Friday and Saturday at Foothill College

Western Ballet is slated to perform “La Fille Mal GardéeR...

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Spiritual Life

Magazine

A yoga class a day keeps the stress away

A yoga class a day keeps the stress away


Van Houtte/Town Crier Yoga of Los Altos hosts a variety of classes, including Strong Flow Vinyasa, above, taught by Doron Hanoch. Yin Yoga instructor Janya Wongsopa guides a student in the practice, below.

It’s nearly 9 a.m. on a Monday mornin...

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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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