Probe into how Google mix-up caused $1 billion run on United

Tribune spokesman Gary Weitman said other clues would have made it clear to a human reader that the story was old, including a reference to UAL’s 97-cent share price (it was trading around $12 on Monday) and comments from readers further down the page that were posted in 2002.

“It appears that no one who passed this story along actually bothered to read the story itself,” he said.

“Despite the company’s earlier request and the confusion caused by Googlebot and Google News earlier this week, we believe that Googlebot continues to misclassify stories,” Tribune said.

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Posted in * Culture-Watch, * Economics, Politics, Blogging & the Internet, Economy, Stock Market

3 comments on “Probe into how Google mix-up caused $1 billion run on United

  1. Jeffersonian says:

    What a major screw-up for Google, but what an opportunity for those who recognized it.

  2. w.w. says:

    Just goes to show there’s more than enough negligence and stupidity to go around in financial management and reporting circles.

  3. Tom Roberts says:

    “…and, seeing there was no 2002 dateline, indexed the article for inclusion on its news pages.”

    Well, if a high school researcher had done this in a term project (it is about that speed) I’d expect a C grade. Legally, I don’t see any tort, as the search engine didn’t have a contract with any of the shareholders to provide accurate data. Caveat emptor, especially for free goods. You might just get for what you pay.