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Technology Stocks : Y2K (Year 2000) Stocks: An Investment Discussion

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To: paul e thomas who wrote (13884)5/22/1999 8:26:00 PM
From: C.K. Houston   of 13949
 
Maybe part of why Y2K stocks are suddenly hot is recent DRUDGE REPORT...

'60 MINS' PLANNING NEW Y2K SCARE STORY; WATER, ELECTRICITY MAY BE CUT, SAYS MAG

Y2chaos on CBS-TV this weekend! Despite the billions being spent to deal
with the Y2K computer bug, many cities in America are uncertain they'll be
able to continue to provide basic services like water and electricity on
Jan. 1, 2000, reports 60 MINUTES in a new shock story being readied for
Sunday.

CBS' Steve Kroft is putting the finishing touches on his controversial
report, according to network sources.

Mary Ellen Hanley, a computer systems specialist hired by the District of
Columbia, tells wide-eyed Kroft that she believes Washington will continue
to function on Jan. 1, 2000, but it must be prepared for what many cities
could face.

"We think there will be some disruptions... localized in many cases if the
supply chain works," Hanley tells the cameras.

"If power works, if gas works, if Bell Atlantic works... all of those are
big ifs."

Hanley explains to Kroft that contingency programs, such as centers where
city workers would manually verify taxes or write welfare checks, are being
planned by her office. And even though she believes the city's water system
can run without computers, rationing could be necessary if a power outage
for as long as a week or two -- slows down water distribution.

Sen. Robert Bennet, R-Utah, who chairs a special Y2K Technology, scares the
stopwatch and explains: "If, for example, there is a municipality that is
unable to distribute welfare checks, there could be some civil unrest that
could come out of that. If, if there was a disruption in the food supply,
and food didn't get in, in a distributive kind of way. That it was
concentrated in one part of the city but not in another, that could be a
situation that could create some civil unrest."

Tick, Tick, T. . .
drudgereport.com

Cheryl

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