[YARDENI] 'Federal Regulator Has Big Concerns'
' William E. Kennard, the Chairman of the Federal Communications Commission
(FCC) testified before Congress on April 28, 1998 about Y2K and
telecommunications. He listed a number of his "Biggest Concerns." Here they are,
in his exact words:
Upgrading network switches (although manufacturers are on schedule to
provide fixes).
Upgrading Customer Premises Equipment (CPE), voice mail systems, Private
Branch Exchanges (PBXs), ensuring interoperability with the network.
Ensuring telephone companies (telcos) cooperate fully with major customers
on Year 2000 testing.
Dealing with billing and other internal systems.
Power system failures could disrupt cable service, including the cable
system's emergency alerting system messages.
Billing systems could generate faulty data.
Satellite telecommunications links could be disabled.
Emergency Alert System may fail just when it is needed most.
Lack of broadcast news may result in misinformation and mass panic.
Old transmitters and other systems may be hard to test or fix.
Radios for police, fire, and other emergency services could fail due to Year
2000 problems. Many of these systems are quite old and manufacturers may
not be able to provide fixes for all of them.
Wireless systems could fail, just when they might be needed as backup to
wireline telephones.
Whether foreign telecommunications companies, especially large segments of
the developing world, will be able to provide service on January 1, 2000. This
could have a huge impact on international trade, foreign investment, the global
economy, and even national security.
Whether satellite links are Year 2000 compliant.
Mr. Kennard assured Congress that the FCC is addressing all these issues. Yet,
amazingly, he also noted that his agency launched its Year 2000 web site only two
weeks earlier, in early April 1998. Indeed, I received an e-mail at the end of April
from a fellow at the FCC asking me for links to good telecommunications web sites!
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