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Technology Stocks : Y2K (Year 2000) Stocks: An Investment Discussion
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To: Jeffrey S. Mitchell who wrote (8298)12/11/1997 2:35:00 PM
From: jgibbs  Read Replies (1) of 13949
 
FWIW, just saw the following in the News and Observer, the local newspaper in Raleigh, North Carolina (the state capital). I've quoted just a few paragraphs:

"On Tuesday, the state Commerce Department released its latest cost estimate for the computer conversion project: $132 million, up from $82 million in May."

"A state team is responsible for fixing the problem not only in state agencies, but also in state-run universities, university hospitals and community colleges."

"While the latest cost estimate is substantially higher, it is still much lower than a $330 million estimate that officials released in March."

"State officials say failure to addres the 2000 problem could produce chaos starting Jan. 1, 2000."

The Medicaid program would be severly messed up and "the program that tells the state when to resurface its roads would provide dates several decades late. Similar problems could render useless payroll, billing and contracting systems."

The Commerce Secretary said "the year 2000 team hoped to have systems corrected by the end of 1998 to allow a full year of testing."

I read a couple of months ago that Anderson Consulting was involved somehow in the project but saw none of the names of the companies most mentioned on the board.

JimG
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