'SEC:Job Has Just Begun;Stevens sy2k.com
By Roleigh Martin @tc.umn.edu
Friday
October 30, 1998
05:01 PM PST
Good posting!
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From: Dan Stevens <vivanau-@mindspring.com>
Date: Wednesday, October 28, 1998 6:15 PM
Subject: SEC: The Job Has Just Begun
The Y2K remediation motor has gotten started in many places, but progress is not
deemed worth reporting by most.
I've been reviewing the SEC database, looking for companies that are compliant or
near-compliant that I can add to my investor list. In the
85 10-K and 10-Q filings filed between 10/16 and 10/21 that I've just reviewed, 38
companies did not even mention their Year 2000 exposure, even though the SEC has
asked them to do so.
What is one to make of this?
Another 21 were very general. They did not describe a structure, a target compliance
date, nor did they contain an assertion of compliance. Generally these responses were of
the form, "Your mother and I have decided that this will have no significant impact on us.
Now, go back to sleep..."
13 had a working program, but a target date after 3/31/99. Typically, this was
"mid-1999". Very optimistic.
10 expect to be completed by 3/31/99. I've added them to my investor list at
sy2k.com You see the clarity of their language for yourself, as I've
excerpted the really nifty parts. Some ring like a bell.
2 - two! - ONLY two companies - were compliant. They're on the list as well.
It is getting really easy for me, looking at these reports, to see who is stonewalling, who
is fluffing, who doesn't really know what's happening and doesn't care if the world can
see that they don't know - and who, bless their hearts, see it as their duty to tell the
world about their programs and their progress.
Can one assume that the fluffers and the stonewallers have made no progress? Not
necessarily, but one cannot avoid inferring that they have made no progress they wish to
tell about. I could not imagine investing in a company that provides neither a statement of
compliance nor an anticipated compliance date.
Check the Edgar database at sec.com for yourself. If you see a company I
can list, let me know. I'll add it to SY2K.
Dan Stevens
sy2k.com
--
Phone: 888-237-7925 Dan Stevens
425-814-5629 Marvelmatics Inc.
718-832-3569 Stevens Techmark LLC
5401 South Hyde Park Blvd #1206 Email: inf-@sy2k.com Chicago, IL 60615 USA
Email: vivanau-@mindspring.com
===== The Stevens Register of Year 2000 Compliant Organizations ======
sy2k.com
------------------------------------------------------------------------ Roleigh Martin
ourworld.compuserve.com
( easy to remember alias is: webalias.com )
(A Web Site that focuses on Y2k threat to Utilities, Banks & more!) |
