On Monday, shares of United Airlines lost more than 75 per cent of their value — erasing about $1.2-billion from the company’s market capitalization — after a story about the airline’s bankruptcy in 2002 somehow got pushed onto the website of a Florida newspaper, was picked up by Google’s news-aggregation service, then made its way onto the Bloomberg news wire and out to hundreds of thousands of stockbrokers and traders. But whose fault was it? By Tuesday morning, fingers were being pointed in multiple directions.
At first, it appeared that the Florida Sun-Sentinel newspaper was responsible for the gaffe, but officials with the Chicago Tribune — which also publishes the Florida paper — said that no one in the organization had posted the old story, which came from the Tribune archives. Then, blame shifted to Bloomberg, which had picked up a headline from an investment news service called Income Securities Advisor.

