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Yesterday a Tribune paper, the South Florida Sun-Sentinel, ran a six year old story on the internet from the Chicago Tribune. The problem with the story is that the news was UAL, parent company of United Airlines, was filing for bankruptcy.

Around 11 am this morning, Bloomberg News broadcast the story as new… That’s when the madness happened. Between the time the story was broadcast as “new” and 12:30 pm, when trading was halted, the stock dropped from around $12 a share, to $3. Even when trading resumed, it still didn’t completely recover from the damage done by the false story.

The staff at the Sun-Sentinel online still don’t know what happened or why the story was posted on their website. I am thinking it was probably just an accident, after all, I’ve seen some pretty disorganized newsrooms. Fowl play would be a little more fun though, as far as reporting on the story goes.

Jeremy

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