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Technology Stocks : Discuss Year 2000 Issues
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To: John Mansfield who wrote (1119)3/4/1998 5:47:00 PM
From: John Mansfield  Read Replies (2) of 9818
 
'US companies will come around to euro conversion only at the last minute'

'THE EURO STOPS HERE

Corporate America's apathy about the euro could prove to be a big barrier to the success of the new international business currency. From America's west coast, Joshua Greenbaum argues that unprepared US companies could wreak havoc on both sides of the Atlantic in 1999. '

<snip>

'The companies will be in a particularly difficult situation as 1998 progresses. While there may not be enough time before 1999 to re-write legacy code to account for the euro, it's basically too late to bring on board a euro-compliant packaged software solution either. The procurement and implementation process for packaged software in the US averages a total of 12 months for mid-sized companies. The prospect that legacy-code dependent companies could simply miss the entry point for euro conversion in 1999 is very real. '

<snip>

'The million-euro question is whether America will rise to the occasion. If the year 2000 issue is any indication, the answer is that US companies will come around to euro conversion only at the last minute, and only when their European colleagues and partners force them to. Financial institutions and large multinationals are already in line, but there still could be large sectors of the $271 billion in US-Europe trade that simply won't be ready when Europe starts to make the move in 1999. '

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