Discuss Year 2000 Issues Message Board

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Technology Stocks : Discuss Year 2000 Issues

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To: John Mansfield who wrote (350)	11/1/1997 10:38:00 AM
From: IVAN1	Read Replies (1) of 9818

ALL: I attended a Year 2000 Legal Conference - what I learned . . . On Thursday I went into San Francisco and attended an all day session for lawyers on the implications of y2k. I am not a lawyer but am interested in everything y2k related. (You know the feeling.) Anyway . . . the conference was terrific. Great speakers. Very high level. here's what I came away with: The litigation stuff is not hype. there are so many ways companies can screw up. There will be a TON of law suits. Subjects: Warranties, what is compliance? (Comply with a standard. What is the standard? Who sets the standard?) Director responsibility. Suits from shareholders. (Didn't you foresee the problem?) sue for lower stock prices? Sue for loss of market share? Lots and lots and lots here. The speaker/lawyers themselves were very y2k aware as you'd expect are VERY concerned. I spoke to most of them one on one and they are very concerned about what's going to come down particularly with the gov which we know is doing a terrible job. I had the nerve to ask all speakers (in private) the following question. "In general terms, are your own personal financial decisions being driven by y2? Is your own portfolio changing because of y2k? Here's what they almost all said. "No, not now but I'm concerned. But you know, a good way to probably make some money now is to invest in companies that are working to fix the y2k problem." I was hoping actually to hear that they were as paranoid as I am but they were more restrained. One really terrific guy I asked me what I was doing with the money I'm pulling out of the market. I said I have a bunch of munis. He said that munis in his opinion could prove real dangerous but didn't elaborate. (any thoughts out there?) He struck me as a really bright guy and this is going to get me thinking. The bottom line? These HIGHLY EXPERIENCED attorneys who have been doing intellectual property, contracts, etc with high tech cos. for years were taking it all VERY seriously and I would say that if you had attended and heard what I heard,in the spirit it was communicated, you would feel your interest in y2k would be repaid. I was looking for validation and another point of view than I find online with the "choir" (you know what I mean!) and found it. Best, Ivan

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