Sep 10, 2008

2002's News, Yesterday's Sell-Off

Google finds an article from 2002, when United Airlines filed bankruptcy — only the article didn’t state a date, so Google assigns the current date. One quick Google later, and the story ends up in a Bloomberg feed. Then stock traders read the feed, sell off their shares, and UA’s stock falls seventy-five percent in minutes. Fun fun fun.

There are layers of stupidity here: the googlebot incorrectly guessing a date where none was found; the person who put it in the feed without checking; and the paranoid stock traders.

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Daily Meh is written and edited by Simen (contact me). I live in Norway. This blog is about whatever interests me. Here are some of my favorite posts from the archives. You can subscribe via RSS.