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Technology Stocks : Zitel-ZITL What's Happening -- Ignore unavailable to you. Want to Upgrade?

To: angel who wrote (12728)	11/7/1997 11:11:00 PM
From: Dale Baker	Respond to of 18263

Angel, since ZITL's supposed value is predicated on the tools which they get from Matridigm and this "factory" business, you should definitely ask about them. Without that this is a declining $2 storage company. Never hesitate to ask questions when your money is at stake.

To: angel who wrote (12728)	11/8/1997 4:15:00 AM
From: bigg e	Read Replies (1) \| Respond to of 18263

USA TODAY FRIDAY NOV7 The chairman of the Sen Bank Comittee says public reporting companies sgould report the cost of fixing year 2000 computer glitch. Despite many firms objections to posting the expense, Sen.alfonse D'Amato, R-N.Y, says he bcaks proposal to require specifc disclosures about the price of overhauling computer systems. The glitch is costly to fix and could affect profits. Take Nationsbank. It will spend 100M by the end of next year to deal with the century date change, an official said thursday. Chase Manhattan, the biggest U.S. bank will spend almost 250M over the next three years. But most companies are not so candid. Many firms balk at posting the expense, saying it is too small to report seperately or is a part of their tech budget. "My No.1 concern regarding the looming year 2000 problem is to protect consumers, financial institutions, and the capital markets from any disruptions," D'Amato says. "Every potential investor has the right to those facts and the burden must be on the corporation to disclose them", says Sen.Bob Bennett, R-Utah, chairman of the Sen. banking subcommittee who is drafting the legislation. He plans to introduce a bill in Jan. The price of revamping the system can be astronomical. Programers who wrote the codes decades ago are charging $1.50 a line to rewrite them now. And because they are in greater demand as the millineum draws near, the sky may really be the limit. "Everybody who wants to do this at the last minute will end up going to the same people for services and that will force up the price," says Jim Woodward of information consulting firm Cap Gemini America. He pegs the cost at roughly $50M for the midsize companies and hundreds of millions for firms such as big banks....etc..