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NEWS ABOUT: Reed Hastings

Shareholders Sue Netflix

Class-action suit says company issued 'misleading statements'

(Newser) - Netflix's shareholders are none too happy with the streaming video giant's plummeting share price, and now they're biting back with a class action lawsuit. The suit, filed recently in California, alleges that Netflix "issued materially false and misleading statements," and failing to disclose crucial info.... More »

Netflix Boss' Stock Options Cut in Half

Reed Hastings pays for battered share price

(Newser) - Netflix CEO Reed Hastings is paying the price for the price hike / Qwikster debacle that has sent the company’s share price down 75% since July. Hastings' annual stock option allowance will be cut by 50%, bringing it to $1.5 million, the company revealed in a regulatory filing... More »

Netflix Stock Tumbles 35%

Aggressive expansion, subscribers' departure add to woes

(Newser) - Amazon’s plunging profits may have Jeff Bezos worried, but he can take solace in the misery of a competitor: Netflix stock dropped a whopping 35% to $77.37 yesterday following some bleak announcements the day before. On Monday, the company said its US subscribers had plummeted and that... More »

Netflix Loses 800K Customers

As stock plunges, CEO blames Tea Party, Occupy Wall St.

(Newser) - The horror movie isn't over for Netflix shareholders. The company, facing a customer revolt over price hikes, posted third-quarter results that were even worse than expected, Bloomberg reports. The company has lost around 800,000 subscribers since June, leaving it with 23.8 million, when it had predicted that... More »

RIP Qwikster: Netflix Will Keep DVDs

CEO Reed Hastings says move was 'too fast'

(Newser) - Ah, Qwikster, we hardly knew ye. Probably because ye never launched, and never will. Netflix abruptly changed course today, announcing that it would not be slicing off its DVD-by-mail service into a separate site after all, Reuters reports. “There is a difference between moving quickly—which Netflix has done... More »

Netflix Split: Insanity or Genius?

Following news of Qwikster, some are leaping to defend the move

(Newser) - Netflix CEO Reed Hastings certainly sent tongues wagging when he announced last night that Netflix was spinning off its DVD business into something called "Qwikster." Was the move visionary or boneheaded? Here’s what people are saying:
  • Hastings’ post “feels like yet another failure to communicate,”
... More »

The Most Creative Minds in Business

(Newser) - Creativity is a tough thing to put your finger on, but Fast Company takes a shot at picking world’s top 100 business innovators. The first five:
  • Jonathan Ive: Apple’s design chief—responsible for the iPhone, iPod, MacBook, and iMac—ushered in an era of “design perfection” that
... More »

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