10
Sep/08

What Exactly Happened In the Tribune/UAL Matter?


Here’s one version: A link to a six year old article about United Airlines’ bankruptcy appeared on a Tribune newspaper’s website (why?). The traffic pushed it into a most-viewed box, which brought it to the attention of a “Google news search agent”(?). That brought it to the attention of Bloomberg News, which widely distributed the article. and then United’s stock fell 76%. Then trading was suspended, the error was corrected, and the stock rebounded.
The people who sold at the bottom lost real money. How did the link appear on the paper’s page in the first place?

Comments are closed.