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Current Anchorage: Miami, Florida

Captains Log sea date September 8, 2008

How many people bought united stock today?

A nearly 6-year-old article circulating on the Internet as breaking news about United Airlines caused a brief 75 percent drop in the airline’s stock Monday, highlighting a potential peril about how information travels in the modern world.

The steep sell-off in United’s shares came after a news service in Florida distributed an old story posted on the South Florida Sun-Sentinel Web site six years ago. The story was distributed by Miami Lakes, Fla.-based Income Securities Advisors to a market information site operated by Bloomberg LP. Monday’s recirculated story gave the appearance that United had filed for bankruptcy protection again.

In fact, the story was originally published Dec. 10, 2002, by the Chicago Tribune, marking the airline’s decision at that time to seek protection from creditors. Both the Chicago Tribune and Sun-Sentinel are owned by Tribune Co.

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