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Technology Stocks : Y2K (Year 2000) Stocks: An Investment Discussion
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To: William J. Cook, Jr. who wrote (1498)11/2/1996 12:18:00 AM
From: Philip H. Lee   of 13949
 
William,

I talked with a partner from a Big 6 accounting firm. They audit utility companies, and mentioned to me that fixing non-compliant billing systems is relatively simple since date-related calculations aren't complex (unlike the financial services and insurance industries). The same logic applies to telecom companies like AT&T, I was told.

I was also told that a lot of companies have replaced systems over the few years, substantially mitigating their Y2k risk. At many companies, old mainframe code has mostly been converted to client-server applications, which run a much smaller Y2k risk. Do you agree with this assessment?

As to the government aspect of Y2k, the consensus opinion seems to be that govt systems are a big risk. Many states and localities don't have a Y2k plan as we speak.

Thanks,
Philip
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