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Comment Hurting speculators is good. (Score 5, Insightful) 286

The Bloomberg/Google slipup a while back also caused large-scale losses, in that instance to United Airlines. Bloomberg actually stated that it does not verify the accuracy of news from other sources. Basically, it trusted Google to do the verification.

This is actually the way it should be. Using automated trading and real-time news to speculate on the stock market should, on average, lose you money. It gives negative inducement to speculation. Investments need to be chosen based on real data, and concrete value. Not based on what you think others will do.

If this is a legitimate case of attempted manpulation, the SEC can do its job. If not, it's a small loss that should have been factored into any risk calculations when the investors decided to trade like this.

Submission + - Convince my boss to go Open Source

randomc0de writes: I work for a small academic research lab. We have thousands of lines of code, all owned by the university, all unlicensed. Some of it was given to us by other universities, some of it written in house. There are a few copyright notices spattered about, mostly it's just a single line with who wrote the code and when. As for licenses, it's more spaghetti. To replicate the experiments, we need to release the source code to other researchers, but most of this is done on a request basis. As for the source, we throw it in an email attachment. I would personally like to just put everything under the BSD and be done with it. I basically need to convince my boss to not only let our code go, but to try to convince other people to open up their code as well. No one likes talking law and politics at work, how am I supposed to go about getting all this code to people how need it?
The Courts

Submission + - Supreme Court rules Ebay sale binding. (

Slurpee writes: The NSW Supreme court has ruled that making an offer of sale on Ebay is legally binding. In other words — you can't change your mind. In a case that reached the NSW Supreme Court, Peter Smythe sued Vin Thomas after he changed his mind on the sale of a 1946 World War II Wirraway plane after the eBay auction had ended. "It follows that, in my view, a binding contract was formed between the plaintiff and the defendent and that it should be specifically enforced," Justice Rein said in his decision. The judgment sets a precedent for future cases and means eBay sales could now be legally binding (At least in Australia).

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The unfacts, did we have them, are too imprecisely few to warrant our certitude.