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Technology Stocks : Y2K (Year 2000) Stocks: An Investment Discussion
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To: Jeffrey S. Mitchell who wrote (7661)11/9/1997 3:38:00 AM
From: CalculatedRisk  Read Replies (1) of 13949
 
Jeff, I agree. Chase is probably pretty typical. Mostly in-house (800 in-house software developers) with some tools purchased and some outsourcing.

Link for anyone who missed the Chase article: sentrytech.com

The key points for financial institutions:
1) They are all targeting completion in 1998 - this meets the FED's 1996 "Date Change Initiative".
2) They are all spending about 5% of their IT budget per year on Y2K.
3) They all have launched the code conversion phase. This probably means they have signed most of the vendors that they are going to use.

Regards, Bill
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