The breakdown on an old story's release
A story in today's The Washington Post details the chain of events that led to a six-year-old-article's re-release about the 2002 reported bankruptcy of United Airlines.
As the story made it's way onto the Internet, it "triggered a massive sell-off that nearly obliterated the company's stock in a matter of minutes."
From the story:
As the story made it's way onto the Internet, it "triggered a massive sell-off that nearly obliterated the company's stock in a matter of minutes."
From the story:
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. It exposed how Bloomberg's influential brand name is vulnerable to bogus content -- the old article was posted to a Bloomberg subscription service by a Florida investment adviser, one of Bloomberg's many "third-party content-providers." Moments later, it popped up under United Airlines company news as a headline only: "United Airlines files for Ch. 11 to cut costs." And it showed how the imperfect technologies of Internet search combined with human failure can cause ruinous results.The Post's Rob Pegoraro also tackle's the issue in his Fast Forward column reminding journalists of the old saying, "if your mother says she loves you, check it out."

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