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Netflix executives profited handsomely while lying to investors over the company's financial troubles
(
deadline.com
)
26
More:
Obvious
,
Netflix
,
CEO Reed Hastings
,
streaming media
,
investors
,
Golden Globes
,
mid-July
,
executive directors
,
trading day
• • •
2032
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Business »
on
17 Jan 2012
at
7:46 PM
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Mugato
2012-01-17 04:38:06 PM
I'm shocked. I have to lie down.
Walker
2012-01-17 04:40:34 PM
Mugato
:
I'm shocked. I have to lie down.
Would you like a cold compress for your forehead?
Darth_Lukecash
2012-01-17 04:52:30 PM
And, um, how is this different than anyone else?
DanZero
2012-01-17 04:58:05 PM
olddeegee
2012-01-17 05:15:13 PM
That makes them eligible to be a Republican candidate, right?
namatad
2012-01-17 05:18:52 PM
Walker
:
Mugato: I'm shocked. I have to lie down.
Would you like a cold compress for your forehead?
this is just another enron like story.
Everyone learned from enron and worldcon that you should assume that the company, esp the execs, are lying about EVERYTHING and that you should only invest if you have access to independent audits which can be confirmed via multiple sources. DUH
wait
didnt the GOP argue that there should be little or no government regulation because businesses would be self corrected by the market. .... right?
RIGHT
???
Mugato
2012-01-17 05:21:52 PM
namatad
:
you should only invest if you have access to independent audits which can be confirmed via multiple sources. DUH
Isn't that insider trading?
namatad
2012-01-17 05:52:09 PM
Mugato
:
namatad: you should only invest if you have access to independent audits which can be confirmed via multiple sources. DUH
Isn't that insider trading?
LOL
meant to include the word PUBLIC a whole bunch of times ...
but just because it is illegal doesnt mean that that isnt the only time you should invest.
The Stealth Hippopotamus
2012-01-17 05:55:31 PM
I lie to them all the time about damaged discs, so I guess it's fair.
RussianPooper
2012-01-17 05:57:34 PM
LONG LIVE THE HUD!
serial_crusher
2012-01-17 05:58:12 PM
The defendants "recognized that Netflix's pricing would have to dramatically increase to maintain profit margins given the streaming content costs they knew the Company would soon be incurring," the suit says.
I like how the word recognized is past tense.
"hey guys, these numbers seem overly optimistic."
"don't worry, we've totally got faith that it'll work out"
"oh, well ok then. Here, take my money."
serial_crusher
2012-01-17 06:01:26 PM
namatad
:
Walker: Mugato: I'm shocked. I have to lie down.
Would you like a cold compress for your forehead?
this is just another enron like story.
Everyone learned from enron and worldcon that you should assume that the company, esp the execs, are lying about EVERYTHING and that you should only invest if you have access to independent audits which can be confirmed via multiple sources. DUH
wait
didnt the GOP argue that there should be little or no government regulation because businesses would be self corrected by the market. .... right?
RIGHT???
Couldn't the independent auditors be a private company? Then it would be up to the (potential) shareholders to demand accountability or take their investment money elsewhere?
ShawnDoc
2012-01-17 06:03:37 PM
olddeegee
:
That makes them eligible to be a Republican candidate, right?
They only made $90 million, and it was spread amongst several executive/investors. That's probably good enough for the state legislature, maybe a House seat. But not enough to run for the Senate or President.
Tr0mBoNe
2012-01-17 06:17:05 PM
Ask the accountants at Nortel for their recipe.
cretinbob
2012-01-17 06:39:16 PM
They're Republicans, what else do you expect?
Aar1012
2012-01-17 06:47:30 PM
ShawnDoc
:
olddeegee: That makes them eligible to be a Republican candidate, right?
They only made $90 million, and it was spread amongst several executive/investors. That's probably good enough for the state legislature, maybe a House seat. But not enough to run for the Senate or President.
Damn Fartbongo and his high taxes prevent them from living the American dream.
namatad
2012-01-17 07:10:29 PM
serial_crusher
:
Couldn't the independent auditors be a private company? Then it would be up to the (potential) shareholders to demand accountability or take their investment money elsewhere?
and people are still confused as to WHY arthur anderson was destroyed?
private audit company either LIED or accepted the LIES told to them or did such as shiatTY job at being auditors that they were destroyed by the enron scandal!!
HAH!!
/no, I will never feel sorry for any employee who worked for such a crooked or incompetent company. sorry that you lost your job, but you didnt know? well sucks to be you.
davidphogan
2012-01-17 07:39:58 PM
namatad
:
serial_crusher: Couldn't the independent auditors be a private company? Then it would be up to the (potential) shareholders to demand accountability or take their investment money elsewhere?
and people are still confused as to WHY arthur anderson was destroyed?
private audit company either LIED or accepted the LIES told to them or did such as shiatTY job at being auditors that they were destroyed by the enron scandal!!
HAH!!
/no, I will never feel sorry for any employee who worked for such a crooked or incompetent company. sorry that you lost your job, but you didnt know? well sucks to be you.
The Enron guys I know all have mentioned that they had an idea something was off, but they were getting paid so well they just didn't want to realize what was going on. The only former Enron employee I know who has found decent work since was one who quit before the shiat hit the fan.
StoPPeRmobile
2012-01-17 08:21:43 PM
Cable companies are laughing now.
TV's Vinnie
2012-01-17 08:44:13 PM
Pirate Bay and EZTV are your friends, people.
namatad
2012-01-17 11:38:58 PM
davidphogan
:
The Enron guys I know all have mentioned that they had an idea something was off,
but they were getting paid so well they just didn't want to realize what was going on.
The only former Enron employee I know who has found decent work since was one who quit before the shiat hit the fan.
yup
and at that point, anyone who knew or suspected and didnt turn them in, was culpable ....
:D
Nemo's Brother
2012-01-18 12:27:35 AM
Will Total Fark still white knight them?
Dafatone
2012-01-18 03:08:14 AM
Screw this. End the entire concept of corporations. Want to be in charge of a company and run it into the ground? You have to own the company.
TheShavingofOccam123
2012-01-18 10:49:43 AM
And now we understand why Netflix didn't signed extended contracts for content early on, quit sponsoring original content and refused to buy a cable channel or other sources of content.
"Keep it cheap, boys, and we'll run the stock price up then cash in our options."
And I thought Netflix was a different kind of company...
imashark
2012-01-18 11:53:30 AM
Fivepence of a further sixpence? Then where is the other penny?
DrPainMD
2012-01-20 07:42:46 AM
I bought NFLX at ~$30-40 and sold it all at ~$250, so I'm getting a kick...
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