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Technology Stocks : Discuss Year 2000 Issues

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To: C.K. Houston who wrote (4361)3/6/1999 4:04:00 PM
From: John Mansfield  Read Replies (1) of 9818
 
LAWRENCE K. GERSHWIN, NATIONAL INTELLIGENCE OFFICER FOR SCIENCE AND
TECHNOLOGY, NATIONAL INTELLIGENCE COUNCIL
WRITTEN STATEMENT FOR THE SENATE SPECIAL COMMITTEE ON THE YEAR 2000
TECHNOLOGY PROBLEM

usia.gov

'-- The lowest level of Y2K preparedness is evident in Eastern Europe,
Russia, Latin America, the Middle East, Africa, and several Asian
countries, including China.'

'Waterborne commerce carries not only oil but a significant amount of
the world's goods of all types. It is difficult to predict at present
the effect of Y2K on the shipping industry, however, many ships and
transshipment points use higher level computer systems and equipment
that contain embedded systems. Widespread failures in waterborne
commerce carriers could also have significant impacts in the supply of
food and commercial goods, resulting in possibly severe economic
disruptions. Malfunction of navigational equipment either aboard or
external to the ship may also occur, resulting in either collisions or
groundings, potentially resulting in environmental problems.''

'In closing, let me note that today we are closely monitoring a broad
range of countries and sectors worldwide in terms of their
susceptibility to disruption by Y2K failures. We continue to gather
information from all branches of the US Government, industry sources,
a vast array of open sources (including hundreds of Web sites), and
our own intelligence collection efforts so that we can accurately
predict failures abroad and assess the implications. ''
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