#1 2008-09-12 13:45:14
The US Securities and Exchange Commission has opened a "preliminary inquiry" into how an outdated bankruptcy story sparked a $1 billion run on an airline’s stock value.
...it was picked up by Google News and later seen by alarmed stockholders. The stock plunged from around $12 to just $3 a share before trading was halted.
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#2 2008-09-12 14:08:32
Not only is this a hat, but apparently nobody cares. I thought it was way cool.
Here's your pic:
Auto-edited on 2020-08-02 to update URLs
Last edited by George Orr (2008-09-12 14:09:22)
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#3 2008-09-12 14:09:09
That is a rather odd article. Nowhere does it give the details about who was to blame. It was a human reporter at a Bloomberg affiliate who misread the article, which was missing a header date , but decided to post it as current bankruptcy anyways. The Bloomberg affiliate is a news org that specializes in reporting news on distressed companies.
Lehmann (the ceo of the affiliate) said yesterday's mistake was the first at his firm in 10 years. He was reluctant to heavily criticize his reporter, but said, "It would have been nice if the reporter had been more grounded in what's going on out there in the world."
Last edited by Johnny_Rotten (2008-09-12 14:10:31)
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#4 2008-09-12 14:14:45
George Orr wrote:
Not only is this a hat, but apparently nobody cares. I thought it was way cool.
Here's your pic:
http://davespicks.com/images/candyhearts/asshat.jpg
And I was so sure because my story was dated today. Never trust electronic news either.
I too thought it was interesting. This quote from Johnny's link is pretty scary
The light-speed wipeout is a powerful reminder of how quickly bad information can spread via the Internet to a trigger-happy Wall Street that is willing to dump millions in stock before checking the facts.
Auto-edited on 2020-08-02 to update URLs
Last edited by phreddy (2008-09-12 14:17:27)
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