This year certainly offers many worthy candidates for the worst CEO. They
include MF Global's Jon Corzine, the co-CEOs of Research In Motion (NASDAQ:
RIMM ), as well as the former leader at Hewlett-Packard (NYSE: HPQ ), Leo
Apotheker. And of course, theres the CEO of Netflix (NASDAQ: NFLX ), Reed
Hastings. As a sign of the mess he has created, the stock is down about 75%
since July. Interestingly enough, he would have actually been a good candidate
for the best CEO of 2010. Keep in mind that he was the visionary who saw the
potential for streaming video and created a megabrand. But this year, Reed
looked like he was the CEO of Blockbuster. For example, he proposed the concept
of splitting the DVD-by-mail and streaming businesses. But didn't he realize
it would be expensive and create lots of customer confusion? Consider that he
wanted to call the DVD business "Qwikster." After a huge uproar, Reed was
quick to kill the idea. Then he had the interesting proposal to boost prices.
Somehow, he thought this was reasonable. But customers didn't think so.
Roughly 800,000 subscribers ditched the service in the third quarter. So
what's the solution? Well, Reed is going to show some sacrifice. For 2012,
he'll only take $1.5 million in stock options, which is down from $3 million.
Huh? I'm sure many shareholders would say: Why does he need any options? He
already owns 2.8 million shares, or 5.2% of the outstanding stock. Hell also
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