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Technology Stocks : TAVA Technologies (TAVA-NASDAQ)
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To: JDN who wrote (29293)3/6/1999 6:11:00 PM
From: Captain Jack  Read Replies (2) of 31646
 
JDN--- now I feel like WR.... ~~~ ALL OT ~~~~~ ~~~ OT ~~~~

Saturday March 6, 4:37 pm Eastern Time

No need to head for the hills on Y2K-
SEC chief

MIAMI, March 6 (Reuters) - Corporate America is ''in very
good shape'' to deal with the millennium bug and there is no need
to stockpile food or head for the hills come Dec. 31, the top U.S.
stock regulator said on Saturday.

U.S. Securities and Exchange Commission Chairman Arthur
Levitt was asked at a town hall forum in Miami to rate U.S.
corporate preparedness to deal with the year 2000 computer bug.

On a scale of one to 10, with one being excellent and 10 representing ''head for the hills,'' Levitt
said, ''I'd pick one. I really think we're in very good shape.''

Levitt said, ''corporate America by and large is doing a good job of protecting against Y2K... I
think that in the United States, the major companies have spent the money, the time, to protect us.''

The computer bug known as Y2K was born in the early days of computing when programmers
saved what was then expensive space by truncating years to two digits.

But that decision meant that when older computers begin reading the year 2000, they will only read
the last two digits and interpret the information as the year 1900. This could result in computer
crashes and flawed data.

Levitt cautioned that some companies would still have problems and said he was ''not at all as
confident'' about international preparedness. But he said there was no need for Y2K panic.

''I have heard of people putting water and food in. That could feed on itself and create a much
worse danger than the problem itself,'' he said.
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