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POSTED July 12, 2012 9:43 p.m.

ATTORNEY HIRED IN FIGHT OVER 49ERS STADIUM FUNDS: SANTA CLARA  (AP) — A Santa Clara County board has hired a lawyer to defend its decision to pull $30 million in taxpayer funds from the San Francisco 49ers stadium project.

The feud began June 22 when a county board that oversees redevelopment funds voted 4-3 to give school districts money that city of Santa Clara voters had earmarked for the $1.2 billion stadium there.

The oversight board claims new state laws give them power over the money and the community faces more pressing needs.

The 49ers have filed a lawsuit to appeal the board's decision.

The San Jose Mercury News reports the board on Wednesday hired Fresno-based attorney Hilda Cantu Montoy to defend its move at a July 27 hearing in Sacramento County Superior Court.

PRICE HIKE STILL HAUNTS NETFLIX STOCK 1 YEAR LATER: SAN FRANCISCO (AP) — Netflix is more popular among couch potatoes than investors a year after its polarizing decision to raise U.S. prices for video subscription services.

The unexpected twist that Netflix unveiled a year ago Thursday triggered mass customer cancellations and a sell-off in its stock, which has wiped out more than $11 billion in shareholder wealth.

Netflix Inc. has bounced back this year to revive its subscriber growth. But even after a recent rally, its stock remains more than 70 percent below its peak price of nearly $305 about a year ago, largely because of concerns about what Netflix has been spending to attract and retain subscribers. The stock gained $3.33, or 4 percent, to close Thursday at $84.97.

The company increased its prices by as much as 60 percent as part of an effort to phase out its DVD-by-mail rental service and raise more money to license TV shows and movies for its Internet video library.

Preparing for the day when DVDs become obsolete makes good business sense as the ubiquity of high-speed Internet connections makes it easier and more convenient to watch video online.

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