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Technology Stocks : Discuss Year 2000 Issues

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To: John Mansfield who wrote (1208)3/19/1998 4:06:00 PM
From: John Mansfield  Read Replies (4) of 9818
 
Subject:
DC Y2K Meeting (On Topic)
Date:
19 Mar 1998 15:41:39 GMT
From:
(cory hamasaki)
Reply-To:
(cory hamasaki)
Organization:
IBM.NET
Newsgroups:
comp.software.year-2000, comp.software-eng

- DRAFT NOTES, will be edited in the next DC Y2K Weather Report.

----------- DC Y2K Meeting Notes ------------

The important part - The buffet - fried squid, spicy chicken breasts, pizza
rounds, sushi, multi-colored corn chips, sauces, crackers, asparagas,
brocolli, cheeses, I didn't get to it all. DD hung around the squid, there
was a sound like a hoover vacuum cleaner starting -whoooosh- th-unk, th-unk,
it's tasty but salty, I need something cold and bubbly... with a twist of
lime. There was food left over... Oh, Greg was late. The Merlot was a soft
1995, slightly bruised as if the grape pressers had calloused feet.

I saw Bob Bemer! He was scurrying around the chips and dip. He left
copies of his manifesto, an odd but interesting six pages on lime green paper
typed in a tiny courier font. Bemer's manifesto repeats his claim to be
the inventor of '27' in 1960, the key above Tab on my keyboard. Isn't '27'
derived from the prior art of the Shift-Out of teletypes? Once I realized
Bemer was there, I ran around looking for him but, sadly, like a Y2K
ninja, he had vanished... there was only a cloud of greasy black smoke left.

Check out bmrsoftware.com, although it might be just
bmrsoftware.com, for an oddly precise fellow on dates, Bemer is a
little vague on URLs.

But on to the meeting. Senator Robert F. Bennett (R Utah) Senate Financial
Services & Banking Committee, expected to be appointed head of the yet to be
announced Senate Y2K Committee.

Senator Bennett was entertaining, had a clear vision of the Y2K problem, spoke
for an hour and a half on the problem from the government's perspective.

Sound bites -

A year ago, there were no Y2K compliant ATMs, now a few percent of the ATMs
are Y2K compliant.

We cannot solve all problems in time

(about banking) We must keep the checks clearing, keep the money available.

(about NCUA) There will be credit unions that go bankrupt.

(about people) Alan Greenspan is a believer. Arthur Levitt calls him in a cold
sweat. He is watching Ed Yardeni ratchet up his estimate from 30%, 35%, 40%,
60% and believes that we're in for a rocky road. Bob Rubin and the IMF are
on board.

(best laugh) Wrote to Bill Clinton about Y2K and a Y2K Czar, Bill didn't
respond, he may have had other things on his mind.

(about congress) He has Senator Lott and Dashel on board.

There will be no programmer/software engineer draft. He's a free marketeer.

Little problems in key places can cause a worldwide recession.

There will be an enormous wealth transfer, analogous to the oil shock that
transferred wealth from the industrialized countries to a few oil states in
the middle east.

Counties and cities are a problem. He pointed out that we have counties and
cities that are larger than states. < States? Try larger than some nations.
How does Greater LA (12 million) or Greater Chicago (8 million) compare to
say, Sweden (9 million) or New Zealand (4 million). Even if the Feds make it,
the counties and cities could fail. >

Triage, mission critical v. non-mission critical. Have contingencies in place.
What are your back up plans. Gas, water, power, communications. We have a
major problem. This is like World War II. And through it all, through the
sense of urgency, there was evidence of a sharp mind, moving the pieces into
place to create a solution; optimistic but remaining pragmatic.

- DRAFT NOTES -

cory hamasaki kiyoinc.com <-----<<< Y2K
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