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

To: C.K. Houston who wrote (541)	11/26/1997 10:11:00 AM
From: Josef Svejk	Read Replies (1) \| Respond to of 9818

Humbly report, from: year2000-discuss@year2000.com - Subject: Sightings. MANY Y2K Snippets: Message 2820884 Svejk

To: C.K. Houston who wrote (541)	11/26/1997 12:33:00 PM
From: C.K. Houston	Respond to of 9818

LIABILITY & DISCLOSURE: Year 2000 crisis is menace and a growth industry ============================================================= SAN JOSE MERCURY NEWS Nov. 23, 1997 EXCERPTS The liability issue is perhaps the most vexing of the Y2k headaches facing organizations. For public companies, pressure is mounting in Congress to require more thorough disclosure of their Y2k efforts and costs. Sen. Robert Bennett, R-Utah, has introduced legislation to ensure that ''every potential investor has a right to those facts, and the burden must be on the corporation to disclose them.'' But attorneys such as Stephen Hollman, based in San Jose for the national firm of Arter & Hadden, are counseling private companies not to elaborate publicly on their remediation work because of the threat of future litigation, and to clear any statements with attorneys. Yet some companies face the possibility of jittery customers as the new millennium approaches, and will want to assure them that business will not be disrupted. Michelle Johnson, an attorney with Thelen, Marrin, Johnson & Bridges in San Francisco, says her law firm advises clients to ensure any public statements they make are consistent, so that the same message is given to shareholders and customers. Johnson also expects that many companies will issue disclaimers with their disclosure reports, stating that they aren't responsible for Y2k-related shortcomings of any suppliers or other businesses on which they rely. Hollman is pushing mediation as a way of resolving year 2000 disputes. He is working with the Information Technology Association of America, a software industry trade group, on a proposed mediation system in which the association would bring trained legal mediators up to speed on the technical issues involving Y2k, to help them settle disputes. The proposal, expected by the end of the year, would encourage companies that have contracts with other businesses to add year 2000 mediation clauses to their agreements. So far, though, the state of Nevada has set the standard for legal preparation. At the request of its attorney general, the Legislature passed a law indemnifying the state against any Y2k legal action. [.....] Lawsuits also might ensue if an organization's contractors stumble. Companies and agencies of any stripe rely on others for parts, supplies, delivery, banking, telecommunications and an array of other services. If, for example, a supplier of jet fuel with unresolved Y2k glitches shuts down and cannot deliver, airlines and their customers may seek recourse. mercurycenter.com