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Technology Stocks : Y2K (Year 2000) Stocks: An Investment Discussion
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To: Richard K. who wrote (10316)3/20/1998 1:52:00 PM
From: Colin Christie  Read Replies (1) of 13949
 
Report from SPG YEAR 2000 Conference in New York...

Dr. Ed Yardeni delivered morning key note. Here are some quotes of interest:

--On the new fed. gov't Y2K council head:

"Koskinen says he wants to be a nice guy, and doesn't want a big staff... what we need is not a Y2K conversion council, we need a Y2K war council, and they don't need a small staff, give them the entire pentagon. We need a leader who can shoot dep't heads who don't get the job done."

--On the retirement of 5 of the top Y2K IT officials at the Defense Department:

"this is like the canaries in the mines, when the canaries die, the air is bad!"

--On the likely impact of FAA problems:

"....25-50% cut back in flights likely."

--On the failure to date of the FAA to replace its 40 IBM-3083 mainframes:

"What are they planning to do, go back to using pin-up maps and ham-radios?"

--On the GAO report:

"Y2K-speak is rubbish...what are 'mission-critical' systems, and who decides?...some IT guy??!"

--What other major corp. managers are telling Dr. Ed...but are not willing to disclose publically--their lawyers have them on a gag order:

"Head of major money-center bank: "we're not even close" "
"Head of major hospital chain: "we're planning to shut down all our smaller clinics, and move staff to the larger hospitals...we plan to do this in time for the 9/9/99 problem."
"Defense dep't employee: things are much worse than the GAO and Rep. Horn reports indicate"

...and what does Dr. Ed forecast the market impacts to be? See next message!

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