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Technology Stocks : Avalon Group, Inc.
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To: equalizzer who wrote (1145)5/16/1999 1:42:00 PM
From: Madeleine Harrison  Read Replies (1) of 1530
 
Foreign investors have far more reason to be
concerned about their Y2K problem than we do

A member of my immediate family works for a $14B research
and technology corporation that has seen Y2K remediation
contract work increase explosively. They have chosen to
focus on projects outside of the US because of the
massive ramifications to the US economy.
(This concern is not entirely altruistic, as they are one
of the largest US gov't contractors in the
States, and they know which side their bread is buttered on..)

Apart from the resulting foreign investor money you mention,
we are likely to see some other ramifications that are not
so pleasant, such as higher prices on imports. Fuel is one
that springs to mind; when the world's second largest oil
company in the world is years behind in Y2K remediation and
has faint hope of timely catch-up, what will happen when the
pumps aren't pumping and the tankers aren't aren't sailing
and the payroll for thousands and thousands is in disarray?
Should make for some fascinating geo-political shifts as
we seek oil elsewhere, not to mention revolution in
certain Latin American areas.

BTW, on that 9999 glitch, an executive at my ISP said
some Internet switches across the country have already
experience minor hiccups on 9th days of the month this year.
You heard anything about this?
-Madly
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