September 20, 2011, 8:33 amThe era of the $400 airline fee has arrived. For an overweight checked bag weighing 71-100 pounds, Continental Airlines is charging $400 on most international flights, and American Airlines is charging $450 on its Asian flights. United Airlines charges $400 for checking bags weighing 71-99.9 pounds on flights to another continent.
Apple Stock Hits All Time High
Apple stock reached its highest level ever Monday, hitting $411.50 in intraday trading even as the broader market declined.
The price of the stock (AAPL) was 2.7% higher than Friday's close and brought the company's market capitalization to $381.4 billion, albeit briefly. But, even when the stock slipped later Monday to about $410, it was up about 2.4%, while the Dow Jones industrial average fell 1.6%.Apple is again the most valuable company in America, putting Exxon Mobil, whose market cap Monday was about $356.6 billion, at No. 2.
More Buttons on Facebook
Facebook is said to have a big announcement planned at the f8 develop conference. Techcrunch thinks it may know what it is, having heard from a source that the company Is planning to add several new buttons to the social network. Similar in function to the “Like “ button, TechCrunch says the new buttons will be, “Read,” “Listened,” and “Watched.” Coming soon, “Want.”
NetFlix is Backtracking
Looking to soothe customers angry about the company's recent hike in subscription fees, Mr. Hastings apologized for not having explained earlier why subscribers would have to pay more: because Netflix is planning to split its movie-streaming business and DVD-by-mail service into two separate websites.
"I messed up," Mr. Hastings wrote in a lengthy post on Netflix's blog. "In hindsight, I slid into arrogance based upon past success."
Still, he didn't apologize for the pricing issue, which is what had his customers in an uproar, said Sydney Finkelstein, professor of management at Dartmouth College's Tuck School of Business. He also waited two months between raising prices and issuing his mea culpa.
The true CEO apology is a rare occurrence, said Mr. Finkelstein. Often nervous corporate lawyers advise CEOs to stay quiet to avoid litigation. Media advisers, on the other hand, want the CEO to get ahead of the story and show remorse. Arrogance also prevents many CEOs from apologizing, he said.
Michael Useem, management professor at the University of Pennsylvania's Wharton School, said he thought Mr. Hastings's apology was effective and direct, and noted that he actually cited his arrogance.
OMG. Best Vid of the Week: Jedi Kittens
After a spectacular fight between the ‘good’ and ‘evil’ felines, their owner happens by and chastises them for playing Star Wars again and grounds them for a week, adding: ‘And I want all this cleaned up.’
The man behind the hilarious video, Zach King, 21, from Los Angeles, said: ‘The Jedi Kittens are striking back with an action-packed adventure. Who can resist the X-Wing and Tie Fighting kittens. Read more