Wed04012015

News

Council eyes bond for Hillview center

Council eyes bond for Hillview center


The Los Altos City Council accepted an $87.5 million cost model for its preferred layout for replacing Hillview Community Center. 

Residents could cast their votes as soon as November on a bond measure to partially fund the redevelopment of...

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Schools

Oak students showcase creativity in Destination Imagination competitions

Oak students showcase creativity in Destination Imagination competitions


Courtesy of Jane Lee Choe
The Sharp Cheddars, a team of Oak Avenue School sixth-graders, perform at the Destination Imagination state competition Saturday in Riverside.

A team of seven Oak Avenue School sixth-graders traveled to Riverside last week...

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Community

Heising-Simons Foundation relocates to 400 Main St. property in Los Altos

Heising-Simons Foundation relocates to 400 Main St. property in Los Altos


Bruce Barton/Town Crier
All in the family: Mark Heising, from left, Caitlin Heising and Elizabeth Simons make up the board of the eight-year-old Heising-Simons Foundation, now in its new headquarters at 400 Main St. in downtown Los Altos.

The He...

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Comment

What would Bob do?: Editorial

The recent passing of an extraordinary Los Altos resident, Bob Grimm, has generated a range of heartfelt reaction, from sympathy to fond memories, from all corners. That’s because Bob did not discriminate in his desire to help others with his money, ...

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Special Sections

Cars that are right on track

Cars that are right on track


Courtesy of BMW
The BMW M4 is packed with power, featuring 425 horsepower and 406 pound-feet of torque.

There’s nothing more fun than driving a responsive automobile that feels alive in the curves and eager to go when given more than a touch ...

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Business

First Street's 'Fort Knox' up for sale

First Street's 'Fort Knox' up for sale


Megan V. Winslow/Town Crier
The Los Altos Vault and Safe Deposit Co. is on the market for $4.5 million. Its fortified steel and concrete structure has been compared to the U.S. Federal Reserve’s gold depository.

A downtown Los Altos structure “b...

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Books

'Pope Joan' Book weaves tale around legend of female pontiff

'Pope Joan' Book weaves tale around legend of female pontiff


The idea that there may have a female pope at one time in history has generated much speculation throughout the centuries. “Pope Joan” (Crown, 1996) by Donna Woolfolk Cross, does not answer the question; rather, the author has created a detai...

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People

JOHN BATISTICH

JOHN BATISTICH

John Batistich of Los Altos Hills died peacefully on March 12 surrounded by his family. John is survived by his wife Claire Batistich (Vidovich) of 67 years and children Gary Batistich of Lodi and Gay Batistich Abuel-Saud of Menlo Park. He is also ...

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Travel

Eat, hike, soak: Cavallo Point Lodge offers Marin experience

Eat, hike, soak: Cavallo Point Lodge offers Marin experience


Eren Göknar/ Town Crier
Cavallo Point Lodge comprises former U.S. Army buildings, like the Mission Blue Chapel, repurposed for guests seeking a luxurious getaway.

It used to be a place where batteries of soldiers lived, with officers’ quarter...

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Stepping Out

'Fire' ignites in Mtn. View

'Fire' ignites in Mtn. View


Courtesy of Kevin Berne
The cast of “Fire on the Mountain,” includes, from left, Tony Marcus, Harvy Blanks, Molly Andrews and Robert Parsons.

TheatreWorks is slated to present the regional premiere of the musical “Fire on the Mountain” this wee...

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Spiritual Life

Spiritual Life Briefs

Oshman JCC hosts Judaism and Science Symposium

The Oshman Family Jewish Community Center has scheduled its inaugural Judaism and Science Symposium, “An Exploration of the Convergence of Jewish & Scientific Thought,” 5 p.m. April 12 at the JCC’s ...

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Magazine

Food for thought: Hidden Villa programs offer teens training in sustainability on the farm

Food for thought: Hidden Villa programs offer teens training in sustainability on the farm


/Town Crier It’s not all cute and cuddly for teens participating in the eight-week Animal Husbandry Apprenticeship program at Hidden Villa in Los Altos Hills. Mia Mosing of Palo Alto, left, and Sophia Jackson of Los Altos clean the pigpens – one of...

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News of debt deal rejuvenates market

Prodded by a last-minute budget deal in the U.S. Congress Thursday, the stock market rebounded, with the S&P 500 index and the Dow Jones industrial average surging on news of the federal government dodging default.

With the debt-ceiling crisis in the rearview mirror for now, the focus turns to corporate earnings. More than 140 companies on the S&P 500 are scheduled to report their earnings this week, and the market could assume a different posture.

The third-quarter earnings of big public companies announced so far are unimpressive. Although companies are beating their earnings estimates, it’s largely because they have lowered expectations.

While the lingering effects of the government shutdown and debt-ceiling brinksmanship are likely to weigh on near-term economic numbers, the market needs to look past these hiccups for the third-quarter earnings season to go well.

Two Town Crier “50” companies issued quarterly earnings reports last week.

• IBM Corp. ($173.29; IBM) shares tumbled after the market opened Thursday, hitting a two-year low of $174.53. IBM’s third-quarter revenue dropped, missing Wall Street forecasts by more than $1 billion.

The company reported net income of $4 billion, a 6 percent increase over the same period last year, but the company’s revenue dropped 4 percent to $23.7 billion, falling short of expectations.

The revenue shortfall prompted analysts to offer new price targets for the stock. A Jefferies analyst backed his hold rating but cut his price target to $190, while a Citicorp analyst maintained his buy rating but lowered his price target by $15. Barclays downgraded its rating from overweight to equal weight, reducing its low target price to $175.

• Intel Corp. (INTC; $24.06) released its third-quarter results last week. Despite beating expectations on a modest level, the current-quarter revenue outlook fell short and the company warned of delays with production of its upcoming Broadwell processors.

The company’s $3 billion profit was down 1 percent from a year ago, and sales of $13.5 billion were up a fraction at 58 cents per share. Analysts had predicted 53 cents per share on sales of $13.47 billion.

The world’s top chipmaker expects that the current Haswell PC processor, with improved battery life, will boost sales for the rest of 2013 but noted that preparations for the Broadwell chip are lagging.

Intel’s earnings are regarded as a barometer of the overall tech industry’s health. The chipmaker’s problems result from declining PC sales, the source of two-thirds of its revenue. Worldwide PC shipments in the third quarter fell 8.6 percent from last year.

In his third-quarter report, Intel CEO Brian Krzanich promised that sales of inexpensive tablets and computers would dominate the holiday season.

Intel’s upgrade and downgrade history is primarily a hold, with a few analysts deeming the stock an outperform. The median target price is $23, with a high of $30. The dividend yield is 3.9 percent.

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