10 September 2008

Google News helps United time travel, lose money

Google News ran an article about United Airlines from 2002, when the airline was on the verge of bankruptcy, as today's news. The story was quickly picked up by other new aggregators and, efficient markets being what they are, lead to United stock dropping from $12 a share to $3. The stock managed to recover to around $10 per share, but for a time, United lost $1.14 billion. The company is still out $300 million, and the executive medical bills are likely to be staggering.

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