Forecross Corporation : Y/2000 Message Board

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Technology Stocks : Forecross Corporation : Y/2000

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Mar 7 3:00 PM EST

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To: Ruyi who wrote (1416)	9/16/1998 12:43:00 AM
From: AD	Read Replies (1) of 1654

Wall Street firms gear up for Y2K Spending also goes for Internet and imaging gear By Emily Church, CBS MarketWatch Last Update: 4:32 PM ET Sep 15, 1998 NewsWatch NEW YORK (CBS.MW) -- This is the time of year that Wall Street's firms are winding up technology spending budgets for the next year. It's a critical time for the firms to place bets on changes facing their industry, from the growing retail and corporate use of the Internet to the globalization of finance. And what's keeping the chief information officers awake at night? Year 2000 computer bugs. A quick survey of CIOs at publisher Miller Freeman's Financial Technology and Expo in New York found that Y2K is the hungriest consumer of their IT spending. John Beran, CIO at Comerica Bank, said his company expects to go 20 percent over its initial $30 million budget for Y2K. Next year alone the bank expects to spend $14 million on the problem. "Y2K is the number one concern," Beran said. "There are a lot of variables with our customers, interfaces, and suppliers." Many computers only read the last two digits of any date, raising fears that everything from banking to air traffic control will come to a screeching halt at the turn of the millennium.

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