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Technology Stocks : Discuss Year 2000 Issues

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To: Ken who wrote (8038)	8/15/1999 10:39:00 PM
From: Ken	of 9818

<<ONE OF THE MOST ALARMIST Y2K PIECES IN WRITING One of the more alarmist Y2K UPI pieces in writing...(intro shown below). vny.com Y2K bug overshadows commodities trade Monday, 16 August 1999 1:22 (GMT) (UPI Analysis) Y2K bug overshadows commodities trade By SAJID RIZVI LONDON, Aug. 15 (UPI) - Commodity markets are living in fear of global disruption resulting from millennium bug problems that experts say won't be resolved this year because of the high cost of replacing embedded microchips. In some cases, affected institutions may find it easier to rebuild than to replace production and distribution systems, adding yet unknown costs to trading of commodities, say London commodity traders. Concern over the Y2K problem confronting the global commodity scene emerged in a World Bank report this month. A cautiously worded commentary in the bank's Global Commodities Report warned, "Regardless of whether the disruptions to occur are large or small, the anticipation of Y2K will lead to changes in consumer and producer behavior that could have significant impact on commodity markets." The consequences could include hoarding, shortages and higher prices, the bank warned. Fear of computer and embedded-chip failure has caused pundits to predict "major disruptions - even global recession," the World Bank said. The U.N. Food and Agriculture Organization has dubbed the millennium bug "one of the most dangerous pests threatening farmers." The FAO warned in a May report that the entire food chain is vulnerable to the Y2K problem. [snip] --

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