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Technology Stocks : Discuss Year 2000 Issues

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To: John Mansfield who wrote (2196)	7/19/1998 10:25:00 AM
From: John Mansfield	Read Replies (1) of 9818

'Bennett estimates only a 50-50 chance that Y2K legislation will pass in Congress...! asked in the TimeBomb 2000 (Y2000) Q&A Forum July 16, 1998 Even Odds On Passage of Federal Y2K Bill By Declan McCullagh How serious are politicians about fixing Year 2000 problems? A bipartisan proposal to encourage Y2K readiness -- endorsed by President Clinton -- has only even odds of becoming law this year according to Sen. Robert Bennett (R-Utah), chairman of the Senate's Year 2000 committee. "I don't put them much better than 50-50," he said yesterday. While conceding that Clinton's speech on Tuesday spotlighted what's been until recently an obscure software bug, Bennett stressed that much more needs to be done during a luncheon speech at the National Press Club. "My plea to you here in the Press Club is: Do not ignore this story just because someone is reassuring you that it's going to work out all right," he said. Not everything is going to work out all right, Bennett said. "We're not going to get this problem solved, so we have to set priorities." This means triage. Worst-case contingency plans. Ending just-in-time manufacturing. Filling warehouses, just in case. It also means Bennett is more realistic than Clinton, who offered a feel-good but absurd prediction the day before: "I set a government-wide goal of full compliance by March of 1999." Meanwhile the feds are falling behind their own schedules to at least fix the most vital computers -- and these in turn are only a tiny fraction of the total number of systems. The Defense Department's Y2K czar even told Netly that "I believe there are mission critical systems that won't be done." Will Bennett be heading for the hills? "I'm not yet ready to start storing food in the basement and digging up the backyard to put in a propane tank," says Bennett. "But it might not be a bad idea to have a little extra food and water around." cgi.pathfinder.com Yeah - it might not be a bad idea - at all. greenspun.com

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