2011 – Netflix CEO Reed Hastings made one of the biggest blunders of 2011 when he announced not only was the DVD section of Netflix getting a new name, but also that section was up for sale. Qwikster brought a lot of attention rapidly for two reasons – 1. It was close to Amway’s spin-off Quixster, and 2. Qwikster used to be the twitter handle of a pot-smoking Elmo character. Since then, Hastings apologized and the company reeled back the statement. However, it was not before they lost 2/3 of their stock and over 800,000 subscribers. Currently, their stock is at $57 a share (from $295 back in July 2011).
1995 – The National Cash Register Company (NCR) Started in 1884 with Point of Sales registers. The company deals in all types of POS, but had financial problems. In 1991, AT&T purchased NCR for $7.4 billion. NCR has been the only AT&T acquisition that retained their original name. on Sept. 20 1995 AT&T would spin NCR back into it’s own company due to the antitrust issues put forward
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