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Tuesday, September 09, 2008

THE POWER OF THE PRESS

Shares in United Airlines crashed more than 75 per cent yesterday as a result of the publication of a story that was more than six years out of date. The story, published on the South Florida Sun Sentinel's website, was originally written in 2002 by the Chicago Tribune and announced the airline was filing for bankruptcy.
Forbes and the Chicago Tribune both have stories that give more background, but it show just what one wrong click can lead to. In this case it was a sell-off of more than 24 million shares.

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