Netflix, one of the most beloved online tech companies in recent years, is now singing the tunes of a Motown classic by The Supremes: “Love Child”.
How does a company go from being adored to scorned seemingly overnight? With one fellow swoop of a price hike, that’s how. Who’s to blame for this fiasco? Well, Netflix’s CEO Reed Hastings, will tell you himself- if you must know- he is.
Wait a minute?! Aren’t CEO’s supposed to say something along the lines of, “Economic uncertainties led to unforeseen drastic measures,” or “Due to national consumer protection and tax regulations,” or even perhaps, “My dog ate all the company’s projections… for the past five years;” anything, other than personal fault when something goes array? (more…)
Latest reports show that U.S. mortgage rates have reached record lows. At the present, a homeowner can obtain a 30-year fixed interest rate at 4.11%; the lowest in 40 years according to Freddie Mac. The previous year’s national 30-year average was recorded at 4.15%.
November 2010 saw demand that drove down the 10-year T-note’s yield (a benchmark for consumer loans including mortgages, as noted by Bloomberg) to 4.17%, according to an article by the LA Times. This year, one could expect to receive a 10-year T-note coupon rate at 2.13%. As of September 9th, a 10-year T-note coupon rate closed even lower at 1.91%. (more…)