Goose here. Epic shit Thank you Drudge http://technology.timesonline.co.uk/tol/news/tech_and_web/article4742147.ece That is all
Happened on monday, they initially lost ~3.4 Billion I think, but thankfully their stock rebounded. I hope they sue google for damages....this isn't the first time Google has tanked a company's stocks by releasing bad/old news - but this is by far the worst case.
Yeah to Googles' defense though, It was bloomberg who didn't do the research and wrote the online article about it prompting the massive sell. Thats what made this so historical, no one actually read the article. Shows how misleading titles can be.
Google was the catalyst, and like I said, not the first time. THey need to put more limits on their news bot, dammit.
lets see how many google staff families bought stocks that day a powerful company indeed, even if it falls into the wrong hands
That's like saying guns need IFF because otherwise I might use it to kill someone I don't like. "Hey, I didn't like him, but the gun was the catalyst! /sue lol"
Exactly. This borderlines utter retardedness. Let me recap: 1. Someone browses an old article on a lowly news site during low traffic time and THAT SITE bumps it to their "most popular" list. 2. Googlebot sweeps the site and picks up that article from their "popular" list. 3. Some moron in an investment firm reads the article on Google, and without verifying the date or content posts a summary on Bloomberg. 4. Thousands of investors now see the summary on Bloomberg site. 5. In a mass-act of freak-out, hysteria and general stupidity they panic. 6. ... 7. Everyone wants to sue the guy with the deepest pockets. How about they sue the morons that didn't realize the article was 6 years old? In other words, go sue yourself!
Google passed it off as "current" news, hence they are at fault, as much as every other idiot who believed it. Google is the root cause, your analogy is rather poor Beerdude. Google themselves pulled the trigger. I imagine the SEC investigation will amount to nothing, other than "countOfCompaniesGoogleHasDoneThisTo++", unless google employees did buy UA stock, at which point they (the employees) are in for a nice surprise. Furthermore, what about the people who didn't sell their stocks, and ended the day having lost money? They didn't do anything wrong, and suffered.
How is it a poor analogy? Google: Tool Weapon: Tool Users: User (lol) Wielder: User The user can use the tool for various uses. Does this mean the tool is at fault? I don't really understand why. If a stock broker uses Google to decide that he should send out a message that creates mass panic, then in my opinion, the stock broker is at fault. You can't blame Google for not producing 100%-perfect articles all the time, so don't expect Google to. Yeah ok but if the page itself has no reference to a date (or a wrong date for that matter), then you can't really blame the coders. Here's a continuation of this story: http://www.latimes.com/business/la-fi-tribune11-2008sep11,0,2191367.story
