Facebook names Netflix CEO to board

As Facebook insiders get ready to flood the market with their shares, Netflix (NFLX) CEO Hastings spent $1 million and bought 47,846 shares of Facebook at $21.03 a share. Those are the only Facebook stock he owns. Reed Hastings has served as a member of Facebook board of directors since [...]

Facebook's move is a sign that it's serious about what could be a $100-billion initial public offering next year. Hastings guided the DVD rental service that he founded through an IPO in 2002.Signaling that it's seriously preparing for what some anticipate will be a $100-billion initial public offering next year, Facebook Inc.

Chuck Carnevale submits:First of all, we are investors who believe in the long-term ownership of good businesses bought at reasonable prices. Therefore, we do not believe in participating in any kind of market timing strategies which would include shorting. We feel that attempting to time markets is an act of speculation, not investment. This does not mean that we believe speculation is wrong or foolish, this simply means that we don't choose to engage in it.

By TechCrunch: By Ryan Lawler

Sigma Swan submits:Facebook announced last week that Netflix (NFLX) CEO Reed Hastings will join the company's board of directors.

Netflix (NFLX) CEO Reed Hastings has certainly done a wonderful job running the company if you look at his entire body of work, despite recent slip-ups, but his handling of the stock leaves much to be desired. Buying back stock over $200 per share only to raise capital at 1/3 the price a few months later shows he is losing the pulse of his business, at least temporarily.

By Rocco Pendola:Over the last 24 hours, I have been poring over data from Netflix's (NFLX) Q2 financial statements, the company's Is it live or is it Memorex conference

Richard Bloch submits:I was watching an episode of Game Changers on Bloomberg TV the other night about Reed Hastings, CEO of Netflix (NFLX).