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Non-Tech : The Y2K Newspaper -- Ignore unavailable to you. Want to Upgrade?

To: Bill Ounce who wrote (131)	10/29/1999 10:14:00 AM
From: ALBERTO	Respond to of 198

Y2K WILL BE A NON-EVENT FOR THE TECH. Techs will see little effect from dreaded Y2K concerns, says INTC. Of a greater concern is the break neck speed in which spending by consumers continues. Can inflation be avoid? Mr. Greenspan indicates that at some point the balanced now enjoyed in the credit markets will cease to be. This implies more than the one rate increase expected in November could be possible in the year 2000. As reported by the media.

To: Bill Ounce who wrote (131)	10/29/1999 7:03:00 PM
From: hunchback	Respond to of 198

IRS Reports Y2K Glitches Reuters Friday, October 29, 1999; 12:20 p.m. EDT The Internal Revenue Service has told Congress it has experienced some "trouble spots" in preparing for the Year 2000 computer problem, although it is working on contingency plans and could manually issue some tax refunds. In a letter sent earlier this month to House Ways and Means Committee Chairman Bill Archer, the IRS said its records of equipment and software at its offices around the country posed a high risk to its Y2K preparation efforts. IRS Commissioner Charles Rossotti wrote that visits to the Atlanta and Philadelphia Service Centers and the Philadelphia and Pittsburgh field offices had revealed both strengths and weaknesses in the inventory records. "The quality of the IRS's inventory currently poses a high risk to the Y2K effort," he said in the letter dated Oct. 15. Some computers and software withdrawn from service were still in the database while other equipment being used was not recorded. "While there is always an element of risk, and we do have some trouble spots in our effort towards becoming Y2K compliant, I am confident we will be prepared for the Year 2000," Rossotti wrote to Archer, a Texas Republican. A coding glitch could cause older computers and software to mistake the 2000 date rollover as 1900 come Jan. 1 unless the machines are fixed or replaced. The IRS Commissioner stressed that the agency's returns processing systems, both paper and electronic, had been made Y2K compliant and sucessfully undergone so-called end-to-end tests in which all parts of the system work together. But there is no alternate IRS system to process returns or issue refunds in the event of a Y2K failure, Rossotti said. The 10 IRS service centers combined could produce up to 10,000 manual refunds daily and would be issued to taxpayers most in need. If manual refunds were issued, Rossotti said, they would go first to taxpayers with IRS-approved taxpayer assistance orders, then to people with gross incomes of $10,000 or less, and then increasing in increments of $5,000 depending on the ability to issue the manual refunds. abcnews.go.com

To: Bill Ounce who wrote (131)	11/1/1999 10:16:00 AM
From: Bill Ounce	Read Replies (2) \| Respond to of 198

USA Today -- Nervous firms stock up for Y2K usatoday.com Nervous firms stock up for Y2K The gross domestic product (GDP) shot up at an annual rate of 4.8% last quarter, and the Commerce Department said inventory buildup before the year 2000 was a big reason. With thousands of companies using up excess inventory, the economy could grind to a near halt in early 2000, economists say. Hofstra University economist Irwin Kellner says about one in four firms have switched from a just-in-time to a just-in-case inventory system as a defense against possible supply disruptions caused by the Y2K glitch. [Full story at usatoday.com]