I just read Mathew Ingram’s blog reinforcing his argument that “Yes, Twitter is a news source.” I tend to agree with him but would add that regardless of whether Twitter is a news source or not, it’s important enough to pay attention to. If you’re in the business of gathering and sharing information, Twitter is a necessary tool. Of course there are bad tweets that mistakenly spread false information as Michael Arrington points out on TechCrunch. But as is the case with the Twitter messages related to the tragedy in Mumbai, the misinformation gets corrected, resulting in what seems to be accurate, and ideally helpful, Tweets.
Campbell Communications 
The challenge for businesses and communicators is how to distinguish the forest from the trees in this environment.
Alas, until two hours ago, I didn’t know that “twitter” wasn’t just a reference to Mel Blanc’s inimitable Tweety-bird chracter.
Now I know that twitter as a social media “tool” has the potential to incite much more than just Sylvester the cat.