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Technology Stocks : Discuss Year 2000 Issues

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To: John Mansfield who wrote (2288)	7/27/1998 2:23:00 PM
From: John Mansfield	of 9818

'U.S. companies are finally waking up and smelling the millennial coffee. Unexpected problems encountered in year 2000 work have forced them to mobilize and refocus on repairing mission-critical systems and developing realistic emergency contingency (triage) plans, according to a survey of IT managers at 128 of the nation's most successful firms, just published by Cap Gemini America (http://www.usa.capgemini.com). "The number of companies focusing on contingency planning surged to 72 percent from only 3 percent in April," the report states. "Six of seven Fortune 500 firms have now launched a `full-fledged strategy' to deal with year 2000 issues," leaping from 20 percent to 86 percent in seven months. "Growing numbers of major corporations are underestimating costs, falling behind schedule and already experiencing year 2000-related breakdowns," including processing disruptions, financial miscalculation or loss, logistics/supply chain problems and customer service glitches. The poll found the critical utility, transportation and health sectors in greatest danger of Y2K failure. Sectors best positioned for year 2000 success were software, financial services and computers. ... techweek.com

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