Jobs Rumor Debacle Besmirches Citizen Journalism

On Friday someone posted a false rumor that Steve Jobs had suffered a heart attack on CNN's unverified citizen journalism site, iReport. Apple's stock price went vertical, losing 9% before Apple stepped in and denied the rumor; the stock then recovered most of its loss. The SEC is investigating. PCWorld looks at the hit taken by citizen journalism as a result of this incident. "[The] increasingly blurred line between journalism and rumor is a serious concern for Al Tompkins, the broadcast/online group leader at The Poynter Institute — a specialized school for journalists of all media forms. 'How could you possibly allow just anybody to post just anything under your [CNN] label unless you have blazing billboards that say, "None of this has been verified, we've not looked at any of this, we have no idea if this is true"?' he asks."