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Technology Stocks : Zitel-ZITL What's Happening

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To: Bill Wexler who wrote (14573)	3/13/1998 12:20:00 PM
From: Greg M.	Read Replies (1) of 18263

(Thanks Peter for the link), Forbes is so stupid. >>Bad news for Y2K consultancies<< Those shorts at Forbes better watch their shorts. Ha Ha Ha. Ha Ha Ha. Forbes excerpt: >>Be warned: Year 2000 problem will effect the economy. But despite all the hollering and hand-wringing (see "Y2K fear merchants"), the disruptions in productivity and growth won't be earth-shattering. Forthwith a more modest scenario: More money is being spent internally. According to a Dec. 1997-Jan. 1998 survey of 400 companies across 17 different industries by International Data Corp., only about 34% of Y2K budgets are being dedicated to external service firms, like consultants. That number is down from last year's expectations, which is good news for shareholders (it is much cheaper to fix the problems internally) and bad news for Y2K consultancies and offshore software factories. Most companies will not reduce other IT due to Y2K. Over 56% of those responding to IDC's survey say Y2K will not affect their other IT spending. Certainly some companies will feel the pinch as they postpone computer upgrades and new investment--both Oracle and Sybase partially blamed Y2K for their softened earnings. But considering the robustness of the high tech industry, it seems clear it will easily weather any Y2K squall. The smaller the company, the poorer the country, the bigger the problem. Large companies, particularly those in telecommunications and finance, will fix their problems in time. They simply can't afford not to. Unfortunately, many smaller companies and companies based in less developed nations have the opposite problem. They simply can't afford to fix Y2K. IDC's data shows this clearly. The vast majority of those companies who report not yet starting on Y2K repairs have less than $10 million in revenues.<< >>IDC's data shows this clearly<< They're so stupid. These shorts at IDC will lose their shorts! Ha Ha Ha.

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