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Technology Stocks : Discuss Year 2000 Issues

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To: C.K. Houston who wrote (1532)	5/2/1998 9:17:00 AM
From: PKFVA	of 9818

In fact, more will be heard from the Federal Govt. on this subject in the coming months. I heard Fed. Y2K Czar Koskinen (sp?) speak at an IT industry breakfast on Thursday. Putting aside his good humor and self-confidence, the message was sobering. The single most interesting stat, given that we live in an inter-connected world: his group believes that fully 70% of companies and organizations outside the US have done nothing to address the problem. And he freely admits that there just isn't enough time - and that there likely will be system failures to some degree. His present activities (he's been on the job about 10 weeks) are focused on fact gathering and coalition building, but the stronger messages will then be forthcoming. He said he realizes that it's a balancing act - getting the message out to stimulate action, on the one hand versus not creating panic (especially in the financial markets) on the other. In sum - a sobering message from an impressive individual. It would not surprise me to see him emerge as a widely followed and much-quoted Administration and national figure.

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