Page 8 - Business Facts

Blockbuster had the chance to buy Netflix for $50 MILLION in 2000!


In 1998 Reed Hastings grew tired of having to pay the absurdly high late fees bestowed upon him by Blockbuster.

He didn't just complain, he thought of an alternative system to renting movies. Hastings dreamed big, worked hard, and Netflix was born.

In 2000, Reed Hastings approached Blockbuster to try and sell his company to them, however Blockbuster denied the offer saying there was no future in that business. Oops.

For four long years, Blockbuster ignored the fact that Netflix was on the up swing and rapidly growing in popularity. Finally, in 2004, Blockbuster tried getting in the market of home delivery. It was much too late, Netflix and Redbox were already dominating the market.

Today, blockbuster had to file for bankruptcy. Even during Blockbuster's dying days, the CEO arrogantly said ”I’ve been frankly confused by this fascination that everybody has with Netflix …

Netflix doesn’t really have or do anything that we can’t or don’t already do ourselves.” Essentially, he said that Netflix is worth no real threat.

In 2012, Netflix earned over $3,000,000,000 in revenue. Blockbuster could have made the best business move of all time - instead of the worst.

(Source)

Tulsa County, Oklahoma, is the meth capital of the world!


Attention all Heisenberg wanna-be's - you are going to have some serious competition if you live in the Tulsa County region.

According to an interactive map posted by CNN, Tulsa County have identified 979 meth labs, the most in any region in the country. For the residents of Tulsa County, this is both an accomplishment and what we imagine to be one of the scariest things ever.

We don't condone meth labs, unless your starring in a hit drama airing on AMC - but another hot spot for meth labs is Jefferson Country, Missouri with a low 472 discovered meth labs.

Unintentionally, the map outlines what counties have the largest supply of readily available meth. Whether or not those counties has the most meth users is another story altogether!

(Source)

Ben & Jerry's policy used to be that no employee could make more than 5x than the lowest paid worker!


Ben & Jerry's has been making delicious ice cream treats since 1978. The business started off in a small town in Vermont, and has grown to be a nation wide empire of frozen deliciousness.

During the 1980's, this small town ice cream maker had a rule that said that no employee, including the CEO, could make more than 5 times what the lowest paid worker was making. Essentially, this capped the CEO's salary at $81,000 a year.

This policy lasted until 1994, when one of the founders of Ben & Jerry's, Ben Cohen, retired from the company and the company decided it needed to offer higher salaries in order to acquire an outside business man as the new head of the company!

Before 1990, the average worker to CEO pay ratios were less than 1 to 100. By 2000, these ratios had increased to 1 to 500 before being lowered in 2003 to 1 to 300.

This means that today, the average CEO is paid 300 times more than the lowest paid position in the company!

(Source)

Some awesome lists!

After an economic crisis, a therapist created a bank where people exchanged good deeds!


The Bank of Happiness was founded in Estonia is a virtual bank where the transactions don't involve money, but rather good deeds.

The first transaction recorded in the bank's records was that of a man receiving a haircut from a total stranger, for free!

In order to become an official member of the bank, an Estonian citizen must fill out a report online, stating what types of things that they can do for others (bag groceries, walk dogs, fix cars).

Next, the applicant, must explain what types of things that they would like to be done for them!

The bank was first created as a result of Estonia suffering an economic crisis, and being named in the bottom 30 nations ranked by 'happiness'.

Tiina Urm, the 26-year-old that is partially responsible for thinking up the idea says "At the moment we are glued to other people only through money. But that’s not how we evolved as a society.

We used to work as a team.” Wouldn't it be nice if that way of thinking was spread all around the world?

(Source)

Chicken Nuggets are only half chicken!


Researchers from Mississippi examined two nuggets from two national fast food chains and found that they were only 50% and 40% chicken meat. What's in the other half?

Are you sure you want to know? You get one more shot. Ok, here's the rest of the ingredients: Fat, blood vessels, nerves, cartilage and bone pieces.

Someone who works in the fast food industry faulted the small sample size that they used, although others say it's OK because those giant chains have big pushes towards uniformity.

(Source)

Video

users online