Tue01272015

Schools

MVLA revisits prospect of ninth-grade PE exemptions

MVLA revisits prospect of ninth-grade PE exemptions


Ellie Van Houtte/Town Crier
The Mountain View Los Altos Union High School District Board of Trustees is scheduled to vote on a proposal to exempt ninth-grade student-athletes from taking PE. Students take part in a physical education class at Mount...

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Community

Midnight Express offers late-night rides from SF

Midnight Express offers late-night rides from SF


From Midnight Express Instagram
A group of millennial-aged Santas celebrating a night on the town prepare for a safe ride from San Francisco to their South Bay homes, courtesy of Cory Althoff’s new Midnight Express shuttle.

It’s no understatemen...

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Comment

More open than ever: Editorial

One of the Los Altos City Council’s objectives for 2015 is implementing an open-government policy. The title of the policy may be somewhat misleading, because it’s not as if the city has had a closed-government policy. But the new proposal goes beyon...

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Business

Cassidy Turley, DTZ plan to combine

Cassidy Turley, DTZ plan to combine


Ellie Van Houtte/Town Crier
Cassidy Turley, which has offices at 339 S. San Antonio Road, is combining with DTZ following its recent acquisition.

Commercial real estate services companies DTZ and Cassidy Turley have joined forces to operate as a sin...

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Books

Gawande's

Gawande's "Being Mortal" proves an important book on aging


Books about death and dying are usually not on my list of “must reads.”

I couldn’t resist, however, the best-selling “Being Mortal: Medicine and What Matters in the End” (Metropolitan Books, 2014) by Atul Gawande.

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People

JUDY HOFFMANN

JUDY HOFFMANN

Judy Hoffmann passed away unexpectedly October 17, 2014 in New York City. It was only fitting Judy would be traveling and enjoying special adventures in so many different places until the very end.

Judy has lived since 1969 in Los Altos with her h...

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Travel

Cuban photographer slated to appear at Foothill

Cuban photographer slated to appear at Foothill


Courtesy of Raúl Cañibano
Cuban photographer Raúl Cañibano is set to appear at Foothill College tonight. His work – including the image “Series: Guajira’s Land, Viñales, 2007,” right – is on display at the KCI Gallery t...

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Stepping Out

TheatreWorks launches '2 Pianos' in Mtn. View

TheatreWorks launches '2 Pianos' in Mtn. View


Suellen Fitzsimmons/Special to the Town Crier
Christopher Tocco stars in TheatreWorks’ “2 Pianos 4 Hands,” which opened last week.

TheatreWorks’ production of “2 Pianos 4 Hands” is scheduled to run through Feb. 15 at the Mountain View Center fo...

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Spiritual Life

Start something great by ringing in the new year with prayer

There is a tradition, which I’m told originates in the Midwest, that calls for people to pray in the new year. A few years ago, I was invited to a friend’s house and a number of people stayed up until midnight (approximately two hours pa...

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Magazine

Christmas At Our House home tour celebrates 26 years

Christmas At Our House home tour celebrates 26 years


Courtesy of Christopher Stark
Homes on the St. Francis High School Women’s Club’s Christmas at Our House Holiday Home Tour showcase a variety of architectural styles.

The days grow short on sunshine but long on nostalgia as the holidays approach...

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Defendant cites SEC unfairness, inaccuracy in court case: Other Voices

My companies and I have been the subject of numerous articles in your publication over the past 15 months. I write this letter to set the record straight on a number of issues regarding the lawsuit SEC v. Small Business Capital Corp., et al.

The first issue is that the SEC indisputably used false financial illustrations throughout their lawsuit. This is not a matter of conjecture, as the SEC has admitted to using an improper formula. The SEC is the country’s foremost regulatory authority on accounting matters. Yet it managed to make “good-faith mistakes” (SEC’s term in its lawsuit pleadings) to overstate the funds’ actual distributions by 54 percent and, from there, make “Ponzi-like scheme” allegations. The allegations were used to seize $45 million of invested monies, much of this from local investors.

This is a civil lawsuit matter. However, the criminal equivalent of what the SEC has done, with its false formulas, is called “planting evidence” and creating false pretense. Additionally, the SEC falsely labeled the court-appointed receiver a “licensed CPA” in this lawsuit when he is not a CPA at all. While the rest of the business world calls such actions “fraud,” the SEC and the receiver are able to describe these matters as “good-faith mistakes.” Their actions make a mockery of the public’s trust in federal regulatory oversight.

The second issue is “bureaucratic and regulatory creep.” The subject businesses were in good standing with federal and state regulators at the time of the injunction. This includes oversight by the U.S. Small Business Administration that was involved with the investment fund’s federal licensing. Post-Bernie Madoff, the SEC tripled its enforcement actions. This includes reviewing companies that have never been advised of any need to register with the SEC and who, in fact, were already registered to issue securities under the state. Is it fair for a federal agency to suddenly apply the standards of publicly traded companies to small, nontraded private investment funds that had no prior federal regulatory oversight?

The third issue is the actions of the SEC to interfere with due process for legal representation. Both the SEC and the receiver have submitted to the court substantial numbers of false statements and material omissions. A “pro se” defendant (self-represented) faces huge obstacles in being able to conduct discovery (fact finding), and with establishing legal arguments in a format acceptable to the court. In the matter of this lawsuit, the receiver’s attorneys have, time and again, refused to provide information to the court by citing that this writer did not “cross his t’s or dot his i’s” in his requests.

Additionally, the court in its ruling stated the equivalent of “we’re not going to go through your information” to see if you have proved your point.

The court recently ruled in favor of the SEC in its request for summary judgment, which means that this lawsuit may never go to trial. This is a substantial disappointment not just to myself, but also to the scores of investment fund members who have written the court strong letters of disapproval.

More information on this lawsuit is available at markfeathers.com. An appeal was filed Aug. 29 with the Ninth Circuit Court of Appeals to overturn the court’s summary judgment in favor of the SEC.

To read the court’s ruling in its entirety, visit this story online.

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