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Technology Stocks : 2000: Y2K Civilized Discussion
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To: John Hunt who wrote (471)8/30/1999 6:23:00 PM
From: John Hunt  Read Replies (1) of 662
 
Y2K ready? Some businesses might need to check the fine print

<< Companies, trade groups, and regulators have barraged the public this summer with assurances that only minor problems will result from the computer-software glitch known as Y2K.

From utility executives to Federal Reserve Bank officials, the message has been one of consistent optimism that major institutions will function smoothly through the date change.

But there's a catch that businesses and individuals might want to keep in mind: Some research underlying the rosy forecasts includes ample wiggle room.

For example, the American Hospital Association boasts that 'almost all' of its members will be ready for the date change to Jan. 1, 2000, even though it has received data from just a small fraction of its membership. Electric-industry executives congratulated themselves for meeting a June 30 deadline to ready their systems, but 63 companies were granted 'limited exceptions,' meaning they had missed the target date.

Also, agencies have reduced the number of systems they consider 'mission-critical' from 8,589 in late 1997 to 6,190 today, which critics say has made it easier for agencies to declare their systems ready. >>

... cont'd at ...

boston.com

Reminds me of the film 'And the band played on'.

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