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Technology Stocks : Y2K (Year 2000) Stocks: An Investment Discussion
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To: CalculatedRisk who wrote (12408)7/19/1998 5:43:00 AM
From: Jeffrey S. Mitchell  Read Replies (2) of 13949
 
But Yardeni is really off base when he writes: "The Y2K crisis is occurring because top management has ignored IT." What evidence does he have that Y2K is a "crisis"? And what evidence does he have that management has "ignored IT"?

Did you know that Yardini used to be a programmer? Not just any language, but assembler (machine code)? Did you know he travels throughout the world talking to "top management" and employees alike? I didn't think so.

Here's a simple question, when an ex-programmer/economist talks to the IT staff and he's told in no uncertain terms there's a big Y2K problem at that company, and then that same person talks to management and is told everything is fine, wouldn't he logically consider that as evidence that management has ignored its IT staff? Or, perhaps you wish to make the argument that management is well aware of the problem but chooses to keep everything hush hush? Either way it presents a problem, right?

I doubt Yardini will get to say very much on the Today Show, so I suggest either you do more research on Yardini or you wait until his Y2K marathon in August before making comments that have no basis in fact.

And, please, don't come back with "I read his web site and he didn't convince me" nonsense as that excuse could be applied to any situation. I can tell you there are people who read this thread who have had Yardini visit their company and talk to their management, so I suggest you think long and hard about how deep you want to further step into this topic.

Let's just call a spade a spade. You and others have pretty much made up your minds that Y2K will be a minor annoyance at best and there's very little anyone can say or do that will convince you otherwise. Either that or you lump anyone who talks seriously about Y2K as a fanatic that thinks the world will grind to a halt and there will be blood in the streets, which makes it easy for you to sound like the voice of reason. Sorry, show me some case studies like Yardini does and you'll have my attention.

But it sure is fun being a contrarian, isn't it?

- Jeff
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