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Technology Stocks : Stock Swap
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To: Patrick Slevin who wrote (13763)5/12/1998 2:23:00 PM
From: Andrew Vance  Read Replies (2) of 17305
 
*AV*--My new bank debit card and ATT MasterCard were to expire this month. Both were replaced with expirations of early 00 and 01. I wonder if this means they are comfortable with their fixes, living on the edge, or will take their chances weighing the cost of the problem and re-issuing new cards next year. All of the rest of my cards are conspicuously expiring in late 99, especially the one that came in the mail to replace the 6/98 card. One year instead of the normal 2-3 year cycles I usually see.

Either way, the YR2000 issue is going to cost these "plastic" companies more money whether it is in the form of remediation prior to a problem, problem resolution as a result of a problem, or sending out one extra cycle's worth of cards to their customers until they know if it is going to be a problem.

I am hoping that the problem with "plastic" occurs in our favor and that the resolution of these problems work out in the consumers favor. If so, more bad tiding for the financial community.

I should state that due to recent events with ENMD, I have no outstanding "plastic" or "paper" debts other than my mortgage. I intend to keep it that way until the dust clears. No more installment debt until I am sure it doesn't turn into a nightmare down the road.
What me be on the wrong side of this as millions of indebted peoples installment debts "vanish" forever on 12/31/99<GGG>.

Andrew
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