Mon03302015

News

Safeway escalator elicits safety concerns from customers

Safeway escalator elicits safety concerns from customers


MEGAN V. WINSLOW/Town Crier
The escalator at the Safeway on First Street poses a safety hazard, some customers allege.

A Safeway shopper who accidentally placed his cart last month on the customer escalator instead of the shopping cart track next to...

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Schools

Los Altos High hosts 30th Writers Week

Los Altos High hosts 30th Writers Week


Above Photo by Traci Newell/Town Crier;
Author Jack Andraka shares his story with fellow high school seniors during Los Altos High School’s Writers Week last week.

Los Altos High School students learned firsthand last week how professionals ...

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Community

Service dogs bring smiles, comfort to veterans at Foothill College center

Service dogs bring smiles, comfort to veterans at Foothill College center


Photos by Megan V. Winslow/Town Crier
Charles Viajar, student and U.S. Navy veteran, brings his four-legged companion Bruno to the Veterans Resource Center at Foothill College. Bruno, a 2-year-old Imperial Shih Tzu, is trained to assist Viajar with...

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Sports

Improbable run to NorCal semis saves season for St. Francis girls

Improbable run to NorCal semis saves season for St. Francis girls


Megan V. Winslow/Town Crier
St. Francis High’s Daisha Abdelkader goes on a fast break in the CCS Division II final. The senior point guard scored eight points in the Lancers’ NorCal semifinal loss to Dublin last week.

Senior Daisha Abdel...

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Comment

We'll buy it; what is it? Editorial

Would you buy a device on the condition that you are kept in the dark about how it works? Would you feel good about purchasing such a device when the contract even calls for nondisclosure of the nondisclosure form that keeps the device top secret?

T...

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Special Sections

MV resident, engineer applies brainpower to screenplays

MV resident, engineer applies brainpower to screenplays


Alicia Castro/Town Crier
High-tech vice president by day, screenwriter by night, Mountain View resident Robert Frostholm pursues his passion for storytelling.

Robert Frostholm has always been a storyteller.

Until a couple of years ago, however, hi...

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Business

Vintage Bath changes hands as new owners add twist to classic offerings

Vintage Bath changes hands as new owners add twist to classic offerings


Alicia Castro/Town Crier
Vintage Bath, the downtown Los Altos showroom, is under new leadership. Taking over are, from left, co-owners Jerry Rudick and Deena Castello and marketing and visual director Alissa McDonald.

Deena Castello – the new cu...

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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

BEVERLEY JEANE (DORSEY) MCCHESNEY

BEVERLEY JEANE (DORSEY) MCCHESNEY

1944-2014

Beverley McChesney passed away at El Camino Hospital in Mountain View, CA on Sunday, Nov. 16. She had been fighting cancer for about 23 years until it went into her lungs.

She is survived by her husband David, of Cloverdale; her sisters...

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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

Cal Pops performs Sunday at Foothill

Cal Pops performs Sunday at Foothill


Courtesy of Cal Pops
The Cal Pops trumpet section includes Dean Boysen, from left, Bob Runnels and Noel Weidkamp.

The California Pops Orchestra is scheduled to perform “Swing Time!” – a musical tour of Big Band hits from the 1930...

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Spiritual Life

Oshman JCC hosts panel on Judaism and Science

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 Schultz Cultural Arts Hall, 39...

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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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Stock market still volatile, bullish

Welcome to volatility in the stock market, finally over the 16,000 hurdle. Up one day, down the next, investors are not looking forward to the broad market declining in earnest. Until that bubble, the market’s reluctance to experience anything more than a fairly modest correction is pleasing news to many investors.

The news from Washington often distracts investors more than it informs them of anything meaningful, but following the headlines can be helpful. Stocks fell Nov. 20 after the Federal Reserve indicated that it might begin tapering its bond-buying program in the near future.

After the slump, stocks jumped in Thursday morning trading as larger-than-expected jobless claims dropped, suggesting an improving market.

At her U.S. Senate confirmation hearing for Fed chair, Janet Yellen said a strong recovery would ultimately enable the Fed to reduce its bond-buying program and rely on policies such as asset purchases.

As an investor, I find that monetary policy is most effective when the public understands what the Federal Reserve is trying to do and knows how to plan based on its decisions. Minutes from the Fed’s October meeting indicate that the central bank will begin tapering its bond buying in December, and Treasury bonds jumped to a two-month high near 2.8 percent, putting pressure on utilities and telecom stocks.

In day-to-day movement, the market is still bullish, and a pullback could be looked at as a correction within a bull market – and that could lead to a new buying opportunity.

Two Town Crier “50” stocks made headlines last week.

• Heritage Commerce Corp. (HTBK; $7.98) released its third-quarter results two weeks ago, reporting that earnings increased 29 percent to $3.2 million from the same quarter a year ago, or 10 cents per average diluted common share. For the nine months ended Sept. 30, net income available to common shareholders increased 36 percent to $8.2 million.

“As a result of our solid performance, we are delighted to announce the payment of a quarterly cash dividend of $0.03 per share in the fourth quarter of 2013 to our shareholders,” said Walter Kaczmarek, president and chief executive officer.

Heritage Commerce Corp. operates as a bank holding company for Heritage Bank of Commerce, providing commercial and full personal banking services to residents in local communities, including Los Altos, and nine other full-service branch offices in the counties of Santa Clara, Alameda and Contra Costa.

Deposits totaled $1.20 billion at the end of September, compared with $1.14 billion in September 2012. The company’s earnings consensus has moved higher over the past two months, suggesting that more trading could be on the horizon for Heritage Commerce Corp. stock.

Upgrade and downgrade recommendations from most analyst firms have suggested a hold for the stock. The mean target price is $8.50, with a high of $9.

• NVIDIA Corp. (NVDA; $15.52) is known for creating the graphics chips used in PCs to bring video games to life. With the invention of the graphics processing unit, NVIDIA introduced to the world the power of programmable shading, which defines modern computer graphics.

In fiscal year 2014, NVIDIA plans to return in excess of $1 billion to shareholders, in the form of share repurchases and quarterly dividend payments. During the first nine months of 2013, the company returned $983 million to shareholders, including $850 million in share repurchases and $133 in dividend payments.

Revenues came in at $1.05 billion, up 7.9 percent from the previous quarter but down 12.5 percent from the year before. Earnings totaled $118.7 million, up 23.1 percent on a sequential basis but down 43.2 percent compared with the previous year.

NVIDIA ended its third quarter with $3.03 billion in cash, equivalents and marketable securities. The Santa Clara-based firm holds no debt.

NVIDIA is currently running into headwinds and aims to reduce the dependence on PCs and focus on gaming devices and servers.

Shares of NVIDIA declined over the past week after Morgan Stanley issued a downgrade after the stock rose more than 40 percent in the past year and the operating performance deteriorated. Morgan Stanley analysts lowered their target from “equal weight” to “underweight” and placed a price target of $13 per share.

Clyde Noel is a Los Altos Hills resident and a longtime investor in stocks.

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