BOSTON ( TheStreet) -- You know the news by now: Netflix customers are running for the movie-theater exits as content costs are skyrocketing and expansion plans overseas will lead to losses in the first half of 2012. It's Netflix's worst quarter. And it all blew apart in three months.I read through the investor letter from Chief Executive Officer Reed Hastings and David Wells, the finance chief. My first thought: I wish all companies provided this sort of transparency and explanations. It had to be done, though, because of damage control following the Qwikster repricing/renaming mess.
Netflix's Accounting Rules Are Hidden Risk for Investors
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