17 | May | 2007 | Joe Duck

Here in Southern Oregon, Applegate is the charming valley and river that was named after early settlers. For Silicon Valley the new term “AppleGate” refers to the top tech blog Engadget’s posting of a fake email suggesting that Apple’s iPhone would be delayed. The report led to an almost immediate sell off of Apple stock and a 4 billion dollar decline in Apple’s market capitalization, though the stock rebounded quickly when it became clear the email was a fake.

This appears to be a *superb* example of how information is reflected by the stock market and how quickly. I get the idea the (bogus) iPhone delay rumor affected the price of APPL almost immediately but have not checked the timing.

Mike at TechCrunch has a nice play by play and graph of AppleGate, and the Engadget post AppleGate post is here.

Wow, I always forget how hard it is to do a good few days of physical labor. I’m sore all over the place. The panel passed the inspection and Pacific Power hooked me up so now there is power at the house and we are fixing the area in the back – porch and roof. I’d originally tried to save an old porch that had been added on – perhaps in the 1930s – but decided it would be better to take it down due to bad condition and the fact it’ll open up the kitchen window to the sun.

The process is going somewhat slower than I’d hoped, but progress is progress, and we should be able to get the wood and felt up today on the section of new roof over the porch – about 125 square feet I think. I matched up the asphalt 30 year architectural style shingles at a great price at Home Depot of about $60 per 100′ square of roofing.