Nasdaq was forced to halt trading for United Airlines after a false report was filed by the South Florida Sun-Sentinel newspaper that the airline was bankrupt. Shares of UAL plummeted 60% and the airline sector fell 20% across the board.

Fine print: Crain’s Chicago Business

United Airlines is axing 400 baggage handlers and customer service agents. Here’s a quote from UAL blowhard Megan McCarthy:

“As we move forward with our previously announced capacity reductions, this agreement with the IAM will assist us in mitigating the impact of involuntary furloughs on our IAM employees.”

Translation: “We had our way with the union and we’re canning more people.”

Everyone’s favorite bankrupt airline, United, is axing 1,600 jobs and cutting 100 planes from its fleet.  United’s stock is up almost 10% today — good news for all of the officers and directors who are selling the fucking stock.