Y2K (Year 2000): Is Wall Street & Banking Vulnerable? Message Board

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Technology Stocks : Y2K (Year 2000): Is Wall Street & Banking Vulnerable?

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To: John Hunt who wrote (47)	6/17/1999 1:34:00 PM
From: C.K. Houston	Read Replies (1) of 158

Y2K problems may be looming in the international investment markets, according to survey results released today by the California Public Employees' Retirement System (CalPERS). A low response rate and cautious answers to the survey indicate that many companies may not be prepared for impending Y2K computer problems. Of the 2,469 companies surveyed in which CalPERS has invested more than $35 BILLION, only 600 companies responded to the survey, and only 13.5 percent elected to disclose information or respond meaningfully. "The surprisingly low number of direct, meaningful responses to our survey concerns us," said Charles P. Valdes, Chair of CalPERS Investment Committee. "A company's failure to make adequate disclosures about its Y2K exposure makes it extremely difficult for an investor to make informed investment decisions." Responses to the survey have been posted on CalPERS Shareowner Forum ... for the world's investors to view. (The results of the survey can be accessed on the web site under "Shareowner Alert" and can be searched by company and country.) calpers-governance.org CalPERS also intends to share the survey results with the fund's active international equity managers and other institutional investors ... To read entire article: greenspun.com Cheryl

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