This morning shares of United Airlines lost nearly all their value when a false rumor swept financial markets that the struggling carrier had filed for bankruptcy protection.
United shares traded at one cent in late morning on the New York Stock Exchange, down 99.92 percent, or $12.29. Trading in United shares was halted. The rumor occurred when the Web site of a Florida newspaper posted a six-year-old story from The Chicago Tribune archives about United’s previous bankruptcy filing. Trading resumed and by early afternoon, shares had nearly recovered.
The report was picked up by several news organizations and industry Web sites. It seems that hysterical is the new calm.
Why is it that such a rumor could devastate a major airline? People want to believe the worst. Reality shows have ramped up the hysteria about everything.
Everything is big drama – that seems to be the norm in our politics, banking system, our weather – “worst storm ever.” Hysteria is the new calm.
Don’t add to it by allowing people on your payroll to bring added drama to your door. We don’t need the “Oh my God!” moments or “I have to leave right now.” Fire these people. Or you could end up losing your business for real.
