Monday, September 19, 2011

Netflix goes from bad to worse

From the article: Netflix's woes took a strange twist on Sunday night, in an 11:59 p.m. EDT blog post by CEO Reed Hastings. "I messed up", he begins. Yeah, based on subscriber losses and punishing shareholders, Hasting puts it mildly. The gist is this: After jacking up the price of combined DVD rentals and streaming by an astonishing 60 percent, Hastings presents an unexpected solution: Netflix is splitting its streaming and DVD rental business into two operations.

My thoughts are summed up as this: In other news, CEO attempts to put lipstick on a pig...

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