Wednesday 10 January 2007

Bulletin Board Brouhaha

There's an interesting little story hidden deep in the Guardian's media news. Conrad Black now faces allegations of ramping his shares on a Yahoo! Finance bulletin board.

Anyone involved in investor relations, financial PR or corporate broking will recognise the situation - the investor relations guy pointing out that he can't disclose price sensitive information, and put under pressure to get the share price up any way he can.

What makes this story that much more interesting is that Black allegedly then went ahead and wrote his own contribution to the bulletin board under an alias.

I know some small company CEOs and IROs contribute to bulletin boards - under their own names, with careful attention to disclosure standards. I wonder how many others, though, think they can get away with manipulating the share price through an occasional BBS comment? Those days may be numbered. On the internet, now, *everybody* knows if you're a dog.

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