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Technology Stocks : VIAS VIASOFT & THE Y2K PROBLEM

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To: Larry Brew who wrote (1504)7/14/1998 2:03:00 PM
From: stox19  Read Replies (1) of 2067
 
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Tuesday, July 14, 1998
PRESIDENT CLINTON:
WORKING TO ADDRESS THE YEAR 2000 COMPUTER PROBLEM

The 'Millennium Bug' is a vivid and powerful reminder of the ways we are
growing ever-more interdependent. The powerful forces of change that
have helped create unimagined abundance also bear with them the
possibilities of new and unexpected consequences. This is the way of the
new era. No government acting alone can meet this new challenge of the
Information Age. No company, or even industry, can act alone.

President Bill Clinton
July 14, 1998

Today, President Clinton and Vice President Gore review the federal
government's efforts to prepare its critical systems for the Year 2000
century date change and challenge businesses to take responsibility for
making sure that their systems are ready for the new millennium. The
President will announce federal initiatives to promote information
sharing on year 2000 efforts and to connect people who have skills for
addressing the problem with employers who are in need of their services.

The Year 2000 Problem. Information technology has made possible advances
ranging from the ability to invest money electronically in markets
halfway around the globe to satellite tracking of approaching weather
systems to ground breaking research to find cures for the most complex
diseases. This far reaching advancement is threatened by the year 2000
problem (Y2K), which stems from the use in many computer systems of a
two-digit dating method that assumes 1 and 9 are the first two digits of
the year. Without programming changes, these systems will recognize "00"
as the year 1900, not 2000, which would cause computers to either shut
down or malfunction on January 1, 2000.

A Presidential Commitment To Meeting The Y2K Problem. Y2K is a problem
that affects organizations and governments worldwide. President Clinton
is committed to addressing this problem and encouraging businesses and
other governments to focus on fixing their computers to ensure Y2K
compliance:
Establishing the President's Council on Year 2000 Conversion. In
February, President Clinton established the Council on Year 2000
conversion to coordinate the federal government's efforts to increase
awareness of the Y2K problem and encourage action in public and private
sector organizations.
The "Are You Y2K OK?" Campaign initiated by the Small Business
Administration (SBA) is encouraging more than 20 million small
businesses to determine their Y2K risk by conducting a self-assessment
test available on SBA's Internet Y2K home page, www.sba.gov/y2k/.
Working With Major Industry Associations to ensure that they are
addressing the Y2K problem. Various working groups established between
the federal government and the private sector in energy,
telecommunications, and banking and finance are identifying and
emphasizing the importance of addressing the Y2K problem.
Increasing International Awareness by discussing the Y2K problem with
heads of state at both the G-8 Birmingham Summit and the Summit of the
Americas. Under the President's leadership, the Year 2000 Council worked
closely with the United Nations on the draft of a recently passed UN
resolution that calls upon all member states to act on the Y2K problem.
Year 2000 "Good Samaritan" Legislation. President Clinton will propose
legislation to promote a more open sharing of year-2000 related
information by protecting those who carefully share information on Y2K
solutions or on whether a product is Y2K compliant, from liability
claims based on the sharing of that information.
Department of Labor World Wide Web Y2K Job Bank. The Labor Department
has created a Y2K information technology (IT) job bank on the World Wide
Web (http://it.jobsearch.org) in order to concentrate available workers
and the needs of the IT industry in one place.
World Bank Contribution. The United States will contribute funds to
support the World Bank's efforts to increase awareness of the year 2000
problem in developing countries.
National Campaign for Year 2000 Solutions. Later this month, the
President's Council on Year 2000 Conversion will kick off its "Natio
month, the President's Council on Year 2000 Conversion will kick off its
"National Campaign for Year 2000 Solutions" to promote public

Working Together Toward Y2K Solutions. Ensuring Y2K compliance requires
a mutual effort between all sectors of our society. Today's
announcements will encourage information sharing on Year 2000 solutions,
protect those who assist others in becoming Y2K compliant, and increase
awareness of the problem.
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