Think "Year 2000" (Y2K) is ONLY a technical problem? Well ... you're wrong.
Y2K impacts our entire infrastructure .... in areas you can't even imagine.
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The Year 2000 problem is often misunderstood, under-reported and/or discounted in print and broadcast
media. Vital information and details are available only on the internet.
Many companies still don't want to acknowledge they have a problem, and if they do ... to what
degree.. Everyone's afraid of litigation. No one wants a paper trail. Don't want stock prices depressed.
SEC will soon require divulging this. In April '98, we'll be seeing a lot of Y2K disclaimers in
10K's. And, we'll be seeing HUGE remediation costs adversely impacting company profitability.
SEC FORCES ...: techstocks.com
SEC URGES......: techstocks.com
Firms Resist Year 2000 Disclosure. Now, why would they do that?
techstocks.com
How about that SEC "holiday" we're gonna get. SEC says only 2 days, Montgomery Securities
says 3+ days, independent study for NY & NYC says "down 8 weeks". UK expects to be down a
month. Hmmmm ... who's telling the truth?
techstocks.com
Everyone talks about the Fortune 500 or 1000, and how far along they are. Fine. All well and good. But
... what about the little guys?? And, I'm talking about companies doing less than $200 million in sales.
Mostly Fortune 1000 working on a Y2K fix, with most effort at the front office (MIS) end. Lots of
companies seemed to forget the plant floor.
techstocks.com
Didn't realize they'd find SO many of these little gizmos there. See "Problems & Failures".
techstocks.com
The largest manufacturers have already started to demand that their suppliers prove that they will be
Y2K compliant on time, or their relationship will be TERMINATED. The "Big 3" automakers have
already begun an aggressive campaign. If GM's experts don't certify your program ... you're out. Layoffs
will follow. Some small companies are already choosing to just shut down their
businesses. There's a huge supply chain in many industries, with lots of little companies. Lots
of little companies that won't be around this time next year.
techstocks.com
Legal firms are salivating at the potential they see for Y2K litigation. "Bankruptcy" is one of the
areas where they see major "growth" and "income potential".
States are already passing bills, exempting themselves from Y2K liability! I bet a lot of
companies with state government contracts don't know about this. What's going to happen to them?
Message 2782048
US is ahead of Europe ... and where we ACTUALLY are, is NOT impressive.
Europe is focusing on the EuroDollar within 2 years? Will NEVER happen within their
timeframe. EuroDollar has a deadline which can be extended. Y2K DOESN'T.
techstocks.com
Y2K & ASIA?? Nothing is being done on any meaningful scale. What about RUSSIA
and the third world countries. Where do you think these guys rank??
We're a GLOBAL economy, guys. And, there are BIG, BIG problems out there.
techstocks.com
What's happening with banking? Hmmm ... Doesn't look good.
1st Y2K Bank Closing:
techstocks.com
FED May Bar Foreign Banks:
techstocks.com
Yardeni (Deutsche Morgan) changed his whole stance a from a few months ago. First, Y2K="No
Problemo". NOW, 100% chance of worldwide recession starting in '98. Check out his recent House
Banking & Finance Testimony:
techstocks.com
Senator Bennett Agrees: Message 2471843
Anyone know how dominoes fall when they're lined up perfectly??
Citicorp and their Dominoes
techstocks.com
Airline's not gonna fly? Luftansa & KLM already preparing us for 2-day "airline holiday".
techstocks.com
Hmmm ... ALCOA, BP, SHELL-EXXON? "Failures"? Oh dear.
techstocks.com
Oil & Gas. Sounds like they're getting nervous.
techstocks.com
Telecoms? List goes on and on. More of the same.
WHOOPS ... seems SSA forgot something
techstocks.com
Next year's tax break??? Don't spend all your tax savings yet.
techstocks.com
What about your health? You might not be nervous ... but some high-level medical
professionals sure are!
techstocks.com
How about that PC of yours? Seems even some new ones are having some BIG problems.
Message 2833788
Still think Y2K is no big problem? Doesn't impact me? ....... WRONG! Think again.
Many businesses still hamstrung by:
1. Denial
2. Failure to grasp full implications of the problem
3. Lack of management support
4. Lack of funds
5. Fear of liability
6. False hope for silver bullet
7. Lack of qualified personnel
8. Lack of serious media attention to this issue
This has to stop.
C.K. HOUSTON
Quest@hypercon.com
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