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Technology Stocks : Discuss Year 2000 Issues

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To: paul e thomas who wrote (1141)	3/5/1998 10:23:00 PM
From: David Eddy	Read Replies (1) of 9818

Paul - Core States had a reputation of being a first class modern bank in the Philadelphia Market. First let me say that I have never had any dealings with CoreStates. My professional experience as a software developer & marketing of mainframe maintenance tools (including Y2K) has shown me that on balance, financial organizations (banks, mutual funds, insurance... all the same... no tangible products) are pretty much clueless (there are exceptions) when it comes to running their software portfolios as a central corporate resource. In certain critical ways software is a Bill-of-Materials, parts explosion, and inventory control game... financial institutions & the people that build & run them typically have very few people with such 'manufacturing' experience. In financial enterprises they make money the old fashioned way... by creative accounting. My rule of thumb... the fancier the name & particularly the fancier the offices, the more clueless senior management is about what software means to their enterprise. That's why Y2K is such a nasty problem for many financial institutions. - David

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