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Technology Stocks : America On-Line (AOL) -- Ignore unavailable to you. Want to Upgrade?

To: jhg_in_kc who wrote (33258)	10/25/1999 10:15:00 PM
From: Sam Asava	Read Replies (1) \| Respond to of 41369

It is a double edged sword. If market does not crash but surge upward (after FOMC meeting on 11/16), Mr. Soros will be sitting on his cash and counting how much gain he is missing by trying to time the market. Come on, AOL! Split this stock for SOROS! Sam.

To: jhg_in_kc who wrote (33258)	10/25/1999 11:34:00 PM
From: SOROS	Respond to of 41369

The Year 2000 computer bug will cause few technical problems in the U.S., though investor fears could drive down the Dow Jones Industrial Average by 2,000 points or more, computer industry journalist Robert Cringely said. A programming glitch known as the Year 2000, or Y2K, problem could lead many older computers and semiconductors to read the date 2000 as 1900, causing widespread failure at the turn of the century. Still, most critical U.S. systems, including those in airplanes, at banks and power stations, have been tested and repaired, Cringely said. Other systems, such as those in elevators and traffic lights, don't rely on the date and thus are not in jeopardy, he said. ``In the United States, most of the concerns that people express are not particularly valid,' Cringely told the Bloomberg Forum. ``Our take on it, after a year of study, is that it's been overblown.' The product of Cringely's research is a one-hour documentary on the Year 2000 problem called ``The Winter of Our Disconnect,' which will air on Public Broadcasting Service channels in most U.S. cities tomorrow evening. He interviewed executives from Boeing Co. and Chevron Corp. as well as U.S. government officials and Y2K experts, among others, for the documentary. The greatest threat from the computer problem is that public fear of chaos could cause a financial panic, Cringely said. ``It's Y2K, not as a technical or computer problem, but as a behavioral problem,' he said. ``If everyone takes their money out of the bank, if everyone sells their stock, then we're screwed.' 2,000-Point Drop Cringely predicted that the Dow average is certain to drop by at least 2,000 points in December as investors look to minimize risk. The average closed Friday at 10,345.50. He'll monitor the index in January to see if it continues dropping or rebounds once investors see that computer systems remained intact. Even though most systems that provide services such as electricity are safe from the Year 2000 problem, accounting systems may fail temporarily, Cringely said. The failures shouldn't cause more than minor inconveniences, he said. ``The thing we'll be hearing a fair amount of are these words: `The computer is down,' he said. ``This is a condition that is part of modern life.' Cringely said he isn't doing anything special to prepare for the turn of the century. He'll probably watch it on TV, he said.