'Y2K Report on 700 Club Today
asked in the TimeBomb 2000 (Y2000) Q&A Forum
You can still catch this today if you can access 700 Club via
satellite, or cable, the latter tonight at 11:00pm on the Family
Channel. Drew Parkhill, investigative reporter gave a presentation
limited to quotes from six areas: l. Source: Forrester Research
regarding Fortune 1000 companies and Y2K: "35% of businesses
will continue uninterrupted, 50% continue haltingly, and 15% will
have massive business disruptions." (That's 65% of businesses with
problems!) 2. Wells Fargo, The National Federation of
Independent Business Study, reported in Capital District Business
Review, June 15: " William Dennis, senior research fellow of NFIB
Education Foundation, said that more than 330,000 small
businesses risk closing their doors until the problem is fixed, and
more than 370,000 are likely to be temporarily crippled by Year
2000 computer glitches." The Fed. govm't is getting an F from
Congressman Horn; they're falling behind, 13 out of 24 key
agencies are not likely to be ready. 3. "If we don't fix the
century-date problem, we will have a situation scarier than the
average disaster movie you see on a Sunday night. Twenty-one
months from now, there could be 90 million taxpayers who won't
get their refunds and 95% of the revenue stream of the United
States could be jeopardized. (It is) a very, very serious
problem."--IRS Commissioner Charles Rissatti (Spelling?) Wall
Street Journal 4/22 4. "This could have a huge impact on
international trade, foreign investment, the global economy and
even national security."--FCC Chairman Wm. Kennard 5. From
National Air Traffic Controllers' Assn., NATC Web
site--"NATCA preceives the overall condition of the National
Aerospace System to be catastrophic, and clearly threatens the
economy and social strategic health of this nation... At the current
pace, disaster avoidance will rapidly become disaster recovery." 6.
Regarding shipping: "Loose industry estimates are that 80% of the
world's larger vessels will have been inspected for potential Year
2000 malfunctions before the turn of the century. Some 20% of
larger ships, some estimate, will not have been properly examined
for the computer bugs and will create enormous risk." Journal of
Commerce 6/22 7. Senator Robert Bennett did a confidential
survey: "Of the 10 (largest electric, oil and gas) firms, only two had
assessed their automated systems. One firm did not even know
how many lines of computer code it had, and none had any
contingency plans. The companies responded to the survey under
the promise of confidentiality." Tech Web 6/12 Pat Robertson, at
the end of these reports, recommended people look carefully at
their IRAs, Keoghs, stocks, etc., and consider selective selling,
and divesting yourself of high priced stocks. Drew Parkhill said
that, taking Y2K out of the picture, in the last 3 1/2 months the
stock market has started to send signals similar to '86 and '87...a
serious bear market. Only a few stocks (some 4) are carrying the
market. The suggestion was made to check to see if your company
is "good on Y2K issues." I've submitted all this for those who may
not have access to 700 Club, but it would be best to watch it
yourself. Then find a crazy comedy to watch!
Asked by Holly Allen (Holly3325@juno.com) on July 20, 1998.
Y2K Report on 700 Club Today
asked in the TimeBomb 2000 (Y2000) Q&A Forum
You can still catch this today if you can access 700 Club via
satellite, or cable, the latter tonight at 11:00pm on the Family
Channel. Drew Parkhill, investigative reporter gave a presentation
limited to quotes from six areas: l. Source: Forrester Research
regarding Fortune 1000 companies and Y2K: "35% of businesses
will continue uninterrupted, 50% continue haltingly, and 15% will
have massive business disruptions." (That's 65% of businesses with
problems!) 2. Wells Fargo, The National Federation of
Independent Business Study, reported in Capital District Business
Review, June 15: " William Dennis, senior research fellow of NFIB
Education Foundation, said that more than 330,000 small
businesses risk closing their doors until the problem is fixed, and
more than 370,000 are likely to be temporarily crippled by Year
2000 computer glitches." The Fed. govm't is getting an F from
Congressman Horn; they're falling behind, 13 out of 24 key
agencies are not likely to be ready. 3. "If we don't fix the
century-date problem, we will have a situation scarier than the
average disaster movie you see on a Sunday night. Twenty-one
months from now, there could be 90 million taxpayers who won't
get their refunds and 95% of the revenue stream of the United
States could be jeopardized. (It is) a very, very serious
problem."--IRS Commissioner Charles Rissatti (Spelling?) Wall
Street Journal 4/22 4. "This could have a huge impact on
international trade, foreign investment, the global economy and
even national security."--FCC Chairman Wm. Kennard 5. From
National Air Traffic Controllers' Assn., NATC Web
site--"NATCA preceives the overall condition of the National
Aerospace System to be catastrophic, and clearly threatens the
economy and social strategic health of this nation... At the current
pace, disaster avoidance will rapidly become disaster recovery." 6.
Regarding shipping: "Loose industry estimates are that 80% of the
world's larger vessels will have been inspected for potential Year
2000 malfunctions before the turn of the century. Some 20% of
larger ships, some estimate, will not have been properly examined
for the computer bugs and will create enormous risk." Journal of
Commerce 6/22 7. Senator Robert Bennett did a confidential
survey: "Of the 10 (largest electric, oil and gas) firms, only two had
assessed their automated systems. One firm did not even know
how many lines of computer code it had, and none had any
contingency plans. The companies responded to the survey under
the promise of confidentiality." Tech Web 6/12 Pat Robertson, at
the end of these reports, recommended people look carefully at
their IRAs, Keoghs, stocks, etc., and consider selective selling,
and divesting yourself of high priced stocks. Drew Parkhill said
that, taking Y2K out of the picture, in the last 3 1/2 months the
stock market has started to send signals similar to '86 and '87...a
serious bear market. Only a few stocks (some 4) are carrying the
market. The suggestion was made to check to see if your company
is "good on Y2K issues." I've submitted all this for those who may
not have access to 700 Club, but it would be best to watch it
yourself. Then find a crazy comedy to watch!
Asked by Holly Allen (Holly3325@juno.com) on July 20, 1998.
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