Dow Settlement On Bhopal A Hoax
Bogus BBC report quickly exposed but not before hurting stock price
Dow Chemical's stock price took a tumble after BBC World issued a bogus report that the firm accepted full responsibility for the Bhopal, India, chemical disaster and would pay $12 billion in compensation.
Dow's share fell 3.4% to $49.58 in trading on the Frankfurt Exchange on Dec. 3 after the 24-hour television world news service interviewed a purported Dow spokesman in Paris who made the fake claim. A Dow spokeswoman promptly denied the report. And when the market opened in New York City, shares soon began to trade above the opening price of $49.70.
Friday, December 3
The Spokesman's Name - Bob O'Booey - Should Have Been the Tipoff
Man - even the Beeb gets and broadcasts fake information.
Posted by Howard Hoffman at 3:05 PM