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Technology Stocks : TAVA Technologies (TAVA-NASDAQ)
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To: Jack Zahran who wrote (3626)10/6/1997 9:58:00 PM
From: Quad Sevens   of 31646
 
Comments on the article in The Economist: First, the magazine has certainly changed its tune. Last summer they were downplaying the estimates for the total worldwide y2k bill. Now they give the higher estimates equal time with the lowballers, with no snide comments on the former. Second, consider the magazine's own guesstimates:

"A survey of 700 firms conducted earlier this year by the Cambridge Information Network (that's Cambridge, Massachusetts) found that more than three-quarters expected costs to amount to no more than 10% of their IT budget next year. Assume a 10% average and that implies a worldwide cost of about $300 billion between now and 2000."

So The Economist is weighing in with a less-than-ballsy 300 billion. But note this is only for IT costs. No estimates are made for embedded systems repair nor for y2k legal fun and games. Add this in to The Economist's IT estimates and you're getting close to the higher estimates for the total y2k bill.

Wade
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