Last post on Jul 07, 2008 at 9:42 PM
You are in the Car Stock Exchange
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#1 of 2 What Happened Today (Explanation)
Jul 07, 2008 (6:56 pm)
I'm Howard and I work with Mike here at Edmunds and I am the surrogate game monitor while Mike has taken a well deserved vacation, he will be back the week of the 20th.
Today our game host had a large server failure which caused the game to go down early in the afternoon. We had a choice of either going to a backup server or trying to fix the server that went down. The pro of going to the backup server is that the game was able to come back relatively quickly, the con is that some of the past trade transactions, as many have called out, are not recoverable. I made the decision to go with the backup server plan to get the game up as soon as possible and to make sure that the IPO tomorrow would remain on schedule. Since many of the gains are made on IPO Tuesdays, I'm hoping you guys also agree with my decsion making. For those of you who lost transactions, I am very sorry. However, since this is at the beginning of the month and the weekend was a holiday weekend and the traffic was lower than usual, I believe the gain/losses were mitigated. This condition was unforeseen and things like this on the web happen at times. However, please accept my apologies.
#2 of 2 Re: What Happened Today (Explanation) [zeppelin5]
Jul 07, 2008 (9:42 pm)
I lost over 3 million dollars and have no cash left. How the hell am I supposed to do anything with an IPO? I had been positioning specific shorts for retirement. I had sold enough shares to have IPO cash. I have none of these things now... bah.. I was holding positions that have completely changed. I guess I'm done.