Systemic Failure - I don't think many realize how bad this really is.
ISPs say MCI outage could kill businesses
"MCI WorldCom has the Internet's version of the Exxon Valdez on its hands, and they're acting like a few turtles got a little oil on them," Stutz said. "This is about as bad as it could be."
Around the country, scores of small ISPs that depend on MCI WorldCom's data network to connect to the Internet are offline ...
The problem has been compounded by the way many Internet service providers buy their connections from wholesalers ...
RMI.Net, a Colorado-based service provider, sells data connections to 150 ISPs nationwide. Because its backbone connections have been caught in MCI WorldCom's problems, 66 of its customers were still down ... Those customers in turn serve about 200,000 to 250,000 subscribers ... [If RMI.Net is just one example ... there must be over a million internet subscribers who have been off-line for a week.]
news.com
Geez. What did some of these people do, who do their own trading over the net? Pretty frightening scenario. Makes me nervous. Fortunately I'm not holding anything long anymore. Except some gold stocks <ggg>.
Cheryl
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From Bloomberg ...
Excerpts of a letter from CBOT Chairman and CEO, Thomas R. Donovan to MCI WorldCom CEO Bernard Ebbers relating to the ongoing MCI WorldCom problems and their effect on Project A trading.)
Due to MCI WorldCom's recurring inability to provide dependable, stable network services, the Chicago Board of Trade has been forced, yet again, to suspend trading today on our electronic trading platform, Project A.
This follows on the heels of repeated Project A trading halts during the past week as a direct result of MCI WorldCom's catastrophic service disruptions which have deprived large segments of our market users of access to Project A through their trading terminals on the system's wide area network.
All told, our Project A markets have been down over 60% of the time since Project A's scheduled Thursday evening trading session last week, exposing our members and their customers to market risk and depriving them of significant trading and revenue opportunities. The CBOT has also experienced a sizable loss of transaction fee revenues ...
The Project A trading outages are of grave concern not only to our market users, but also to our federal regulator, the Commodity Futures Trading Commission, and to the Department of Treasury.
We have been in constant communication with the CFTC over the past week to keep them apprised of the problem and the status of MCI WorldCom's efforts to restore stabilized network service.
The CFTC, in turn, has been in communication with the Department of Treasury to address its concerns with the implications of the chronic Project A market disruptions to the CBOT's Treasury futures and options complex, which we offer on Project A as well as by open outcry ...
quote.bloomberg.com
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Dow Jones Newswires -- August 13, 1999
DJ MCI WorldCom Data System Crisis Continues
techstocks.com
Can't believe CBOT didn't have a back-up phone carrier, nor back-up power when Chicago experienced that power outage last week.
Cheryl |
