Tue10212014

Business & Real Estate

Bookstore reopens after summer hiatus


Ellie Van Houtte/Town Crier
Cate Nelson reopened Know Knew Books last week. The store continues to offer an array of books and items.

A State Street retailer is open once again – albeit with a few changes.

Know Knew Books at 366 State St. reopened its doors Oct. 1 under new management and with a new staff, nearly two months after temporarily closing for unspecified reasons.

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Job gains halt stock-market slide

The market was down 238.19 points at 16,804.71, or 1.40 percent, Oct. 1. Stocks took a beating because there are too many global concerns for investors to feel confident in the stock market.

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Transactions

Los Altos

4388 El Camino Real No. 336, S. & A. Lew to Kao Trust for $988,000

2081 Huntington Lane, Summers Trust to R. & W. Scheiter for $2,350,000

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Mortgage experts see more growth ahead

Mortgage industry officials recently told Silicon Valley Association of Realtors members to plan for more growth over the next two to three years because of continued economic momentum in the Bay Area.

Opes Advisors CEO and President Susan McHan and Chief Investment Officer and Principal Mark Duvall offered a positive outlook on the national and local economy. They noted that consumers are in the best financial position in years – there are more jobs, disposable income is up and retail sales are robust. In addition, the S&P 500 index is 22.7 percent higher than one year ago, corporate profits are up, inflation remains largely in check and housing is stabilizing nationally.

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Transactions

Los Altos

633 Almond Avenue, D. Blackburn to A. Bourgan for $3,125,000

1417 Ernestine Lane, L. McAllister to M. Shing for $1,425,000

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Longtime banker readies for retirement


Ellie Van Houtte/Town Crier
Joanne Kavalaris is retiring at the end of October after spending the past 25 years of her banking career in downtown Los Altos.

A longtime Los Altos banker is calling it a career in a few weeks.

Joanne Kavalaris, Bank of the West’s downtown Los Altos branch vice president and manager, is scheduled to retire at the end of October after a 43-year career that began with First Interstate Bank in San Francisco’s Financial District.

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Investors happy with Fed moves

The stock market received the assurance it wanted from the Federal Reserve last week, and, to show appreciation, the market set new records. The Dow Jones industrial average continued its higher-closing trend Thursday and Friday.

Fed officials met last week and announced that they plan to keep the short-term interest rate near zero for a while longer – a boon to the market that should stimulate the economy and make stocks more attractive compared with bonds.

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