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Technology Stocks : VIAS VIASOFT & THE Y2K PROBLEM
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To: paul aswad who wrote (1091)1/7/1998 11:51:00 AM
From: David Eddy  Read Replies (2) of 2067
 
Paul -

The proof is that you can not name a single company that has 5year policies that are now four year policies...on the other hand working with dozens of companies I can unequivocably and categorically tell you none have done what you are saying.

Unfortunately this 'proves' nothing. Personally I am not very close to the insurance industry, so you are correct I am relying on urban legend to make my point.

How about this for a fact (well at least it's the story the VP told me)... a US$700 million revenues company that moves goods thru warehouses. In January 1995, their 5 year licensing job crapped out due to Y2K problems. They are currently spending 25% of their IT development resources on fixing Y2K issues. I happen to know these guys are the best of the best. No insurance company or financial products company can even think about touching these guys in terms of IT effectiveness. They do with a staff of 50 what an insurance company would do poorly with a staff of 250.

If Y2K is costing these guys 25%, then I have to extrapolate that bloated, bureaucratic, protected monopoly industries like insurance are spending (or eventually will spend) much more... if they wake up in time.

Back to you, Chet. <g>

- David
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