Sun07052015

Business & Real Estate

Steinway gallery brings pianos, musicians to downtown Los Altos


Alicia Castro/Town Crier
Chrissy Huang, manager of Steinway Piano Gallery in Los Altos, showcases Steinway & Sons’ signature instruments. The gallery plans to host concerts with performers tickling the ivories.

A new downtown Los Altos business brings a time-tested keyboard to the world’s epicenter of technology.

“In Silicon Valley, we have many talents here – not just in engineering,” said Chrissy Huang, gallery manager of Steinway Piano Gallery in Los Altos. “Obviously, there is a huge need for the piano in our community.”

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Major averages make big move

Stocks jumped in volatile trading for the second consecutive week, with the major indexes up approximately 2 percent. That’s in view of a prospective interest-rate hike, a strong dollar and weak earnings reports.

As of Friday, the Dow Jones industrial average was approximately 1.5 percent from its March 2 all-time closing high of 18,288.63. The S&P 500 index was within 1 percent of its March 2 all-time high of 2,117.39.

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LA Chamber of Commerce hosts Business EXPO April 23


Town Crier File Photo
Residents mingle at a previous Los Altos Chamber of Commerce Business EXPO.

The Los Altos Chamber of Commerce is scheduled to host its 26th annual Business EXPO 4-7 p.m. April 23 at the Los Altos Youth Center, 1 N. San Antonio Road.

The EXPO provides local residents an opportunity to meet Los Altos retailers, restaurateurs, professionals and service-providers in one location. Merchants from all seven business areas in Los Altos plan to participate, and attendees will find information on their offerings. Merchants donate raffle prizes and giveaways at their individual displays.

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Transactions

Los Altos

4388 El Camino Real No. 118, J. & S. McIntosh to Hsu Trust for $1,150,000

1 W. Edith Avenue Unit A205, Moore Trust to E. Lewis for $2,527,000

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New rule could delay closing of escrow

A new mortgage-loan regulation scheduled to take effect Aug. 1 could delay the closing of escrow if not understood by all parties involved, according to lenders.

The Truth in Lending Act – Real Estate Settlement Procedures Act (TILA-RESPA) Integrated Disclosure rule requires changes to the traditional mortgage-loan acquisition process. Issued by the Consumer Financial Protection Bureau, the changes combine the mortgage disclosure established by TILA-RESPA into a single rule. However, a lender panel at a Silicon Valley Association of Realtors meeting reported that the move to simplify the process has created confusion that could delay the closing of escrow if the new rule is not studied carefully.

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FTB sends letters to 2013 earners who failed to file tax returns

The more than 1 million California residents who earned money in 2013 but failed to file a state income tax return will soon hear from the state, according to Franchise Tax Board officials.

Since the 1950s, the Franchise Tax Board has contacted people via letter who earned income in California but did not file a tax return. The letters are sent throughout the year, starting in January. Last year, the Tax Board reported collecting more than $715 million through such efforts.

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Edward Jones ranks high on Fortune’s Best Companies list

Financial services firm Edward Jones recently ranked No. 6 on Fortune Magazine’s “100 Best Companies to Work For 2015.”

Edward Jones made the list for the 16th time, according to Cynthia Wemyss, financial adviser at the Edward Jones office at 339 S. San Antonio Road in Los Altos.

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