So United Air lines dropped 75% briefly because google news posted a news story from 5 years ago that surfaced in Google news and made it onto a Bloomberg box. Just the other day my google news filter popped up a story on how Google is going to be archiving more and more news. It was interesting because it highlighted a Post-Gazette front page from the 1960's when Apollo first landed on the Moon. Most who read that, however, did not jump to the conclusion that there was a stealth space mission that we were just learning about, Capricorn One or not.
Why I connect this I don't know exactly. But the financial news these days is all about the problems at Lehman Brothers, which as disclosure I once worked at. Real problems there, much like elsewhere. The thing that gets me is that just a month or so ago I heard the Lehman CEO, Dick Fuld, on TV complaining that all of Lehman's problems were just the result of Hedge Fund rumors trying to push down the . From some folks I would just write that off as bluster, but most say Fuld is a competent and down the line kind of guy which makes me wonder if he really believed that and what it says if he does.
Could Lehman Brothers, one of the larger and more respected financial firms in the world be failing because of a 'internet rumors' or related talk? It makes Lehman appear to be no more solid than say Pittsburgh's own National Record Mart, itself once thought to be hit hard by pesky internet talk. Of course, NRM would liquidate not long after that. Are analogies like that what Lehman wants to put out to the world.
Lots of denial going on across the board.