Post by dgriffin on Oct 4, 2008 14:20:16 GMT -5
Here's a problem to worry about.
CNN's Citizen Journalism Goes `Awry' With False Report on Jobs
Oct. 4 (Bloomberg) -- CNN's plunge into online citizen- journalism backfired yesterday when the cable-news outlet posted what turned out to be a bogus report claiming that Apple Inc. Chief Executive Officer Steve Jobs had suffered a heart attack.
Apple shares fell as much as 5.4 percent after the post on CNN's iReport.com and rebounded after the Cupertino, California- based company said the story was false. Atlanta-based CNN, owned by Time Warner Inc., disabled the user's account and said it tried unsuccessfully to contact the individual.
The Securities and Exchange Commission's enforcement unit is trying to determine whether the posting was intended to push down Apple's stock price. CNN is cooperating with the probe, Jennifer Martin, a spokeswoman for the network, said in a telephone interview. She declined to say whether CNN provided the user's IP address to the SEC.
www.bloomberg.com/apps/news?pid=20601103&sid=atekONWyM7As&refer=us
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Neat way to beat the market!! Create your own news and then sell short.
CNN's Citizen Journalism Goes `Awry' With False Report on Jobs
Oct. 4 (Bloomberg) -- CNN's plunge into online citizen- journalism backfired yesterday when the cable-news outlet posted what turned out to be a bogus report claiming that Apple Inc. Chief Executive Officer Steve Jobs had suffered a heart attack.
Apple shares fell as much as 5.4 percent after the post on CNN's iReport.com and rebounded after the Cupertino, California- based company said the story was false. Atlanta-based CNN, owned by Time Warner Inc., disabled the user's account and said it tried unsuccessfully to contact the individual.
The Securities and Exchange Commission's enforcement unit is trying to determine whether the posting was intended to push down Apple's stock price. CNN is cooperating with the probe, Jennifer Martin, a spokeswoman for the network, said in a telephone interview. She declined to say whether CNN provided the user's IP address to the SEC.
www.bloomberg.com/apps/news?pid=20601103&sid=atekONWyM7As&refer=us
###
Neat way to beat the market!! Create your own news and then sell short.