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Technology Stocks : 2000: Y2K Civilized Discussion
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To: daffodil who wrote (143)8/13/1999 12:05:00 AM
From: B.K.Myers   of 662
 
<<NERC decided to let power companies list themselves as Y2K ready in time for the June 30 deadline, even though they were not. They justified this action by permitting the utilities involved to list certain Y2K "exceptions" on a separate report which was not made public or given to the Department of Energy. >>

daffodil, I am not sure I would put too much confidence in any Y2K statements, even those included in the 10Q?s.

Here are a couple of lines from worldnetdaily.com.

<<All identified (Y2K) exceptions will be held in strict confidence and will not be reported to DOE (Department of Energy) or the public.

When we were working on the January report (required each quarter detailing Y2K progress), one of the things that we realized was that there were a number of utilities that weren't going to be making the June 30 target date we had established (to be Y2K ready)," Gorzelnik explained.

NERC decided to let power companies list themselves as Y2K ready in time for the June 30 deadline, even though they were not. They justified this action by permitting the utilities involved to list certain Y2K "exceptions" on a separate report which was not made public or given to the Department of Energy.

That false information is the basis for the glowing quarterly report NERC gave to the Department of Energy last Wednesday. >>

This information refers to the power companies reporting to the NERC. I would expect them to file similar reports with the SEC.

B.K.
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