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Technology Stocks : Discuss Year 2000 Issues -- Ignore unavailable to you. Want to Upgrade?

To: C.K. Houston who wrote (6034)	6/17/1999 1:57:00 PM
From: C.K. Houston	Respond to of 9818

NEW YORK - Financial institutions around the world made a "virtual" trip into the future this weekend, as they turned their computer clocks forward to the year 2000 ... Banks Defeat Year 2000 Bug in Simulation (Paul Carrel, The Age) theage.com.au World's Banks Put Their Systems Through Y2K Bug Test (Canadian Broadcasting Corporation) cbcnews.cbc.ca On June 9, the Review reported on a test that was scheduled to take place last weekend of the Clearing House Interbank Payments system (Chips). Interestingly, the only coverage I could find on the results of this test were in the foreign press. [I noticed the same thing. No U.S. media wrote up the results. Very puzzling. Wonder why??] According to the CBC piece, "It will take a few days yet to collect all the relevant data. But organizers say just about everything worked as it should." The Age piece adds that according to George Thomas, senior vice-president and director of information clearing systems at the New York Clearing House, "We've had reports from the European Bankers Association, Australia, CHAPS in Great Britain, TARGET (the European Central Bank's payment system), France, Germany, Hong Kong, Italy, Japan, Korea and Poland - and they are all excellent... I think this will go a long way to show the world that the world payment system is intact and ready to go for 2000." The above came from June 14 Sangers Review sangersreview.com June 9 Sangers article: sangersreview.com Cheryl

To: C.K. Houston who wrote (6034)	6/17/1999 1:58:00 PM
From: C.K. Houston	Read Replies (2) \| Respond to of 9818

U.S. Government Raises Estimate For Costs of Year-2000 Update Associated Press WASHINGTON -- The federal government raised to at least $8.06 billion its estimate Tuesday of how much it expects to spend fixing the year-2000 computer problem, $1.3 billion more than it predicted just three months ago ... interactive.wsj.com WSJ - registration required ============================================================ From a post I made in March The Federal government announced in their quarterly Y2K report that they expect the price tag for their Y2K fixes to be US $6.8 billion. That's an increase of US $400 million since their last quarterly report ... Which in turn was an increase of US $1 billion over their August '98 report ... Which was an increase of US $400 million over their May report. The report cited systems that had been thought fixed, but actually needed additional repairs, as the source of the increase. "To the extent that agencies encounter additional difficulties through testing ... costs are likely to rise," the report said. y2ktoday.com [I wonder how much the NEXT increase will be. UPDATE: We know now!] Anyone remember what the starting budget was in '97? I remember many of us laughed about it back then. Cheryl