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Technology Stocks : Discuss Year 2000 Issues

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To: John Mansfield who wrote (1492)4/30/1998 2:27:00 PM
From: John Mansfield  Read Replies (2) of 9818
 
'[TELECOM] Chairman of the FCC: 'Lack of broadcast news may result in misinformation and mass panic.'

'

Statement of

WILLIAM E. KENNARD
CHAIRMAN
FEDERAL COMMUNICATIONS COMMISSION

Before the

COMMITTEE ON COMMERCE, SCIENCE, AND TRANSPORTATION
UNITED STATES SENATE

on

YEAR 2000

April 28, 1998

At the FCC, we are very concerned that the Year 2000 problem has the potential of disrupting communications
services worldwide. The communications infrastructure is absolutely critical, not only to the economy, including the
general commerce, transportation and banking sectors represented on this panel today, but also to national
preparedness, military, public safety ,emergency and personal communications.

Every sector of the communications industry -- broadcast, cable, radio, satellite, and wireline and wireless telephony
-- could be affected: the United States Emergency Alert System relies on television and radio broadcasts, the
transmission of which may be affected by the Year 2000 problem; in some areas of the country, radio, cable and
satellite systems are the only sources of up-to-date news and information; and police, fire departments and other
emergency personnel rely on radio systems to communicate. We must ensure that all of these forms of
communications continue uninterrupted.

All sectors of the global economy, including financial markets, depend upon reliable telecommunications networks to
conduct transactions. It therefore is critical that telecommunications networks continue to be able to handle national
and international financial transactions. Every night, billions of dollars in financial transactions move across the
country and around the world over telecommunications circuits. Any failure to handle that special traffic correctly
could cause a major economic disruption. Because global telecommunications rely upon the seamless
interconnection of networks, the international dimensions of the Year 2000 problem are especially significant.

....

Mass Media Bureau

Biggest concerns:

o Emergency Alert System may fail just when it is needed most.

o Lack of broadcast news may result in misinformation and mass panic.

o Old transmitters and other systems may be hard to test or fix.

fcc.gov
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