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Technology Stocks : Y2K (Year 2000) Stocks: An Investment Discussion
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To: CalculatedRisk who wrote (7638)11/7/1997 12:16:00 PM
From: Jeffrey S. Mitchell  Read Replies (2) of 13949
 
Bill, just about every Fortune 500 Y2K manager you call will tell you they plan to do the work in-house. I talk regularly to people whose job it is to make such phone calls and we laugh about it all the time. Y2K managers, and there are several that read this thread, will tell you that there is great pressure to do the programming in-house.

But...

I'm not sure if you've ever dealt with an IT department before. Much of my early programming jobs as a PC-based consultant were for large companies that hired my company because "the MIS department says they are booked for the next 6 months".

What do you think the 4700 in-house IT employees at NB do all day-- sit around and wait for Y2K work? Haven't you been following the news of the downsizing of such departments to the core? A few examples: Dupont decided to outsource, to the tune of $4B, all their IT work to CSC; Prudential "sold" their entire programming staff to IBM (true story: the employees were told after the fact; imagine their shock).

If NB actually does do the work in-house, and it takes them 6 months to do it, what affect will the backlog of "other" work have on their bottom line? Can they afford to just put that work aside? Furthermore, what would a "skilled" employee do when told to stop their current "cutting edge" programming project and go pick through millions of lines of 20 year old code to look for dates? How many of these people would just assume quit and go earn way more money for a Y2K vendor?

Hope this helps with your investments.

- Jeff
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