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Strategies & Market Trends : Bob Brinker: Market Savant & Radio Host
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To: Kirk © who wrote (5015)5/17/1998 4:55:00 PM
From: dougjn   of 42834
 
I agree with the cash. And personally, I'd have my bank money and my investments held with a banker and a broker I'd be pretty sure would be among the best in dealing with the issues.

But as for the rest, nahhhh. If a power company felt unable to continue to provide power cause all its customers showed up with overdue accounts, I think, first, the company's management is gonna say just continue to provide power as usual to existing customer regardless of their account status until we figure it out. And if they don't do it on their own, I suspect the state or federal government would declare a state of emergency in a few days and order them to. And the like.

Personally, I think most all companies will have contingency plans for unexpected Y2K problems and will have standing orders to essentially honor existing customers' orders, and to just generally continue to provide services, regardless of accounting and control problems. On the other hand, it could turn out to be a difficult time to open new accounts or make significant changes at many places.

Its much more likely that companies will loose a bunch of money from cleaver fraudulent exploiters of weaknesses than that there will be any prolonged denials of service. Of any kind.

If a credit card company starts declining their customers en mass due to software glitches, they will soon loose ALL of their customers and it will take them years to get them back. More likely they will go out of business. Instead those with overextended limits will be allowed a free ride for a while on failing systems. Etc., etc.

Doug
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