A very costly keystroke

Discussion in 'Community' started by wdlove, Jul 3, 2005.

  1. wdlove macrumors P6

    wdlove

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    Oct 20, 2002
    #1
    Wow what a mistake! :eek:
     
  2. PlaceofDis macrumors Core

    Joined:
    Jan 6, 2004
    #2
    hence why i dont mind the pop-ups at the iTMS asking me if i am sure i want to buy this or that, i'd rather be safe than sorry. thats quite a mistake to make though :eek:
     
  3. grapes911 Moderator emeritus

    grapes911

    Joined:
    Jul 28, 2003
    Location:
    Citizens Bank Park
    #3
    That person may never find another job again. At least not one with any real responsibility. I don't think McDonalds would hire her.

    I'll have a medium #3 with a Diet Coke.
    That will be $251 Million, Sir.
     
  4. mkrishnan Moderator emeritus

    mkrishnan

    Joined:
    Jan 9, 2004
    Location:
    Grand Rapids, MI, USA
    #4
    "You have just decided to buy the Entire iTunes Music Library! That's over 1.5 million songs! That's not nearly as much money as that poor woman from Taiwan lost, but it's probably more than you've got! Are you sure you want to continue? P.S. In case you think we're planning on releasing an iPod big enough to hold that library, don't hold your breath!"

    :D

    Seriously, though, if she doesn't have that level of PnL autonomy ($12M is a lot, but it's only a 5% fluctuation on $250M of stock), then the IT system has no business allowing her to buy $250M of stock in the first place....
     
  5. xsedrinam macrumors 601

    xsedrinam

    Joined:
    Oct 21, 2004
    #5
    Based on recent experience with the check-out at McDonalds, they may have already hired her :D

    Me: "I'd like a small, black coffee, please".
    Intercom: "Would you like cream and sugar with that?"
    Me: "No, just black."
    Intercom: "What size?"
    Me: (pause) "Uh, small".
    Pull up, and promptly receive a bag with coffee, two creams and sugar.
    X
     
  6. jimsowden macrumors 68000

    jimsowden

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    NY
    #6
    Aren't there usually articles to substanciate such claims.
     
  7. mkrishnan Moderator emeritus

    mkrishnan

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    Jan 9, 2004
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    Grand Rapids, MI, USA
    #7
    :D

    Here's a link that half a minute of Googling came up with. ;)
     
  8. Zachariah macrumors member

    Joined:
    May 10, 2005
    Location:
    Earth
    #8
    well the company fired her, but (as it says below) they couldn't be too mad -- they did keep the shares after all


    Techdirt:Stock Trader Accidentally Buys $251 Million In Shares -- Blames New Computer
     
  9. grapes911 Moderator emeritus

    grapes911

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    #9
  10. ham_man macrumors 68020

    ham_man

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    Jan 21, 2005
    #10
    You think the company would be smart enough to know that a single trader should not have the authorization to buy 251 million dollars worth of stock...
     
  11. MattG macrumors 68040

    MattG

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    Fletcher, NC
  12. wdlove thread starter macrumors P6

    wdlove

    Joined:
    Oct 20, 2002
    #12
    Yes, I don't imagine that it will be all that easy for her to get a job. When a new potential employer would learn about why she was fired, would cause trepidation. You would think that a company would have a preset limit on the computer so that this mistake wouldn't occur. Maybe they will now.

    Can't even imagine how she must feel. :eek:
     
  13. Plymouthbreezer macrumors 601

    Plymouthbreezer

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    Massachusetts
    #13
    Woops!

    I'm surprised there were no safegaurds to prevent it. :eek:
     
  14. Abstract macrumors Penryn

    Abstract

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    Location Location Location
    #14
    Yeah, wdlove needs to include some linkeys with these stories. That ugly dog one looks interesting...
     
  15. 840quadra Moderator

    840quadra

    Staff Member

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    Twin Cities Minnesota
    #15
    Your first mistake is getting coffee at Mcdonalds.. I don't go that path even on road trips!!

    840
    French press or bust!
     
  16. xsedrinam macrumors 601

    xsedrinam

    Joined:
    Oct 21, 2004
    #16
    That's so true. If there'd a been a Starbucks or a Dunkin Donut shop close by, I would have made a bee line there. Wendy's has been pretty much the same, sorry treatment. :confused:
    X
     
  17. neildmitchell macrumors 6502a

    neildmitchell

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    May 21, 2005
    #17
    Wonder what she is going to put down for the reason she left her employer on her resume??!! :eek:
     
  18. takao macrumors 68040

    takao

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    Location:
    Dornbirn (Austria)
    #18
    still doesn't beat the lost of the first Ariane 5 where a small programming error (faulty floating point conversion in a pre launch software part) resulted in a whopping 500 million dollar loss ;)

    or the US rocket which got out of control because i nthe fortran code for it a "." was typed instead of a ",".. that was expensive as well
     
  19. mkrishnan Moderator emeritus

    mkrishnan

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    Jan 9, 2004
    Location:
    Grand Rapids, MI, USA
    #19
    So this is very off topic, but have you had good experience with the coffee at Dunkin Donuts? Are you talking about their espresso drinks or their black coffee? I guess it would make a difference. When I had their espresso drinks, I was really disappointed. All the elements were there to make a good cappuccino or latté, but the product was terrible. The several where I had this experience, were Indian couples who were newly immigrated, which I think is weird, too, because usually the standards for acceptability of coffee in India are pretty high.... But I guess there are bad coffee makers all the world around! :eek:
     
  20. deanbo macrumors regular

    Joined:
    May 6, 2003
    #20
    A Bit Dodgy?

    How was this women given the authority to buy $251 million dollars worth of shares? Second of all, the company said we'll fire her for buying the shares but we'll still keep them because the companies future looks good? Thirdly, how to you buy $251 million dollars worth of shares with a wrong keystroke? Just sounds like plain and simple human error to me. (Happens to the best of us.) If anybody should be blamed it's the person who gave her the capability to buy $251 million dollars worth of shares by pressing the wrong key(?).

    If I was this women, I would be suing for unlawful dismissal.
     
  21. efoto macrumors 68030

    Joined:
    Nov 16, 2004
    Location:
    Cloud 9 (-6)
    #21
    This is EXACTLY what I was thinking.
    A - How can one person be given enough power/authority to make such a purchase?
    B - Aren't there supposed to be secondary catches and "safety-net" type holds in place to prevent these types of mistakes?
    C - If the company is keeping the shares, how can they justify firing her? :confused:

    I'd sue them for at least all the shares, use them as a point or argument since the company is firing you over a mistake, then taking your mistake to be a profitable increase for the company, just not right.
     
  22. MongoTheGeek macrumors 68040

    MongoTheGeek

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    Location:
    Its not so much where you are as when you are.
    #22
    She was supposed to buy the stock, she just bought the wrong amount. The difference was between 1 and 2 orders of magnitude.
    She might have thought she was buying a value amount and was buying quantity or vice versa.
    It could have been a case of accidentally adding a 0 at the end of the purchase order. Buy 100000 shared or buy 1000000.
    It could have been 50 share lots.

    There are a number of ways that simple mistakes could lead to an erroneous transaction that large.

    The company is holding on to the stock though so it might have been a good thing she did inadvertently.
     

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