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Non-Tech : Any info about Iomega (IOM)? -- Ignore unavailable to you. Want to Upgrade?

To: KM who wrote (39336)	12/10/1997 11:50:00 PM
From: jwk	Read Replies (1) \| Respond to of 58324

RE: Bean Counters, SEC, & Y2K >> the AICPA expressed concern that many companies have either not yet recognized the technological challenges of fixing the Year 2000 problem, or are still determining its potential cost and impact on operations -- information AICPA believes should be made available to investors. << As I mentioned yesterday, I want to know if IOM is y2k compliant. And, perhaps even more importantly -- what about their chain of suppliers? We are hearing today the HMTT is cranking out all the Jaz disks they can make. That's great. But, the whole production supply chain is a finely tuned and balanced just-in-time network. Zip poduction was halted for two weeks because of one suppliers problem with a stupid little bezel. The exposure to parts / manufacturing disruption due to y2k difficulties, anywhere in the supply chain could easily be much bigger of an impact on sales an earnings than the bezel glitchwas. I'm checking with th IR's of all my holdings to see how up they are on their exposure. [ skiing was even more phenomenal today....snorkel and perescope would have been useful at times....and damn, gotta go do it again tomorrow. ---note to SR-- this being Wednesday meant I had to share a whole lot of powder with a whole lot of doctors, sure hope no one got sick or hurt in Colorado today! ] here's the full text of the release from the CPA association------ Wednesday December 10, 4:28 pm Eastern Time Company Press Release SOURCE: American Institute of Certified Public Accountants AICPA Applauds SEC Staff Plan to Provide Additional Guidance On Company Disclosures of 'Year 2000 Issues' WASHINGTON, Dec. 10 /PRNewswire/ -- The American Institute of Certified Public Accountants (AICPA) today praised the Securities and Exchange Commission (SEC) for a staff plan to provide additional guidance to registrants so that the potential impact of the ''Year 2000 Issue'' on a company's operations is more fully disclosed in 1997 report filings with the SEC. The AICPA, concerned that the investing public may not receive important information about the Year 2000 problem, had urged the SEC earlier this week to make such a decision. At issue is the phenomenon known as the ''Year 2000 Issue,'' which stems from the two-digit dates used by most computers. Computer programmers and other designers of equipment that use microprocessors have long abbreviated dates by eliminating the first two digits of the year under the assumption that those two digits will always be 19. As the year 2000 approaches, many systems will be unable to accurately process certain date-based information, which could cause a variety of operational problems for businesses. Yesterday, AICPA Chair of the Board Stuart Kessler and AICPA SEC Regulations Committee Chair Robert H. Herz sent a letter to SEC Chairman Arthur A. Levitt, Jr. and SEC Commissioner Isaac C. Hunt, Jr. In the letter, the AICPA expressed concern that many companies have either not yet recognized the technological challenges of fixing the Year 2000 problem, or are still determining its potential cost and impact on operations -- information AICPA believes should be made available to investors. SEC regulations that guide what kind of information companies must disclose in public filings do not currently include specific requirements about the type and manner of disclosure that is appropriate for the Year 2000 Issue. The letter stated, ''Our Committee is concerned that, absent further interpretive guidance from the Commission, the investing public is not likely to receive important, timely and specific information about the assessments, if any, made by most registrants as to the extent of such registrant's Year 2000 Issue. We urge the Commission ... to provide to registrants, without delay, appropriate interpretive guidance related to the type and manner of disclosure that is to be included in 1997 annual reports.'' In comments today at the AICPA's National Conference on Current SEC Developments, Brian J. Lane, director of the SEC's Division of Corporation Finance, indicated that the SEC staff will be reviewing its guidelines for company disclosures of the Year 2000 Issue. Lane acknowledged the accounting profession for speaking out about the issue and said he expected the additional guidance to be available later this month. ''We are very pleased that the SEC staff is taking swift action to ensure that investors receive adequate information,'' said Herz, ''and we look forward to seeing the agency's specific recommendations on how companies should deal with this important issue.'' Lane said that the SEC staff would be revising a legal bulletin issued in October of this year, in which the SEC indicated that disclosure of the issue should be made in two cases: ''when the cost of addressing the Year 2000 Issue is material to future operating results or financial condition'' or ''if the costs or consequences of incomplete or untimely resolution of the Year 2000 Issue represent a known material event or uncertainty that is reasonably likely to affect a registrant's future financial results.'' The AICPA believes it is important for substantially all companies to disclose their assessments of the impact of the Year 2000 Issue and their action plan and resources dedicated to correct the problem. In its letter, the AICPA had recommended that the ''Commission should clearly communicate its expectation that it would be rare that a registrant could reasonably conclude as of December 31, 1997, that it is not reasonably likely that the Year 2000 Issue would have some significant effect on the registrant's operations.'' Herz said today that he was optimistic that the SEC's revised interpretation would provide clear guidance for disclosures about the Year 2000 Issue in SEC filings. Congress is also concerned about the Year 2000 Issue. Senator Robert Bennett (R-UT) introduced legislation last month to require public companies to disclose the nature of their Year 2000 issues and steps being taken to correct them. The AICPA (www.aicpa.org) is the national professional organization of CPAs with more than 331,000 members in public practice, business and industry, government and education. SOURCE: American Institute of Certified Public Accountants

To: KM who wrote (39336)	12/11/1997 3:06:00 AM
From: Bill Ulrich	Respond to of 58324

Trufflette, Quite OT -- re: jpg posting Because I'm as intrigued as anybody else, I would be most happy to do any Photoshop processing, JPEG conversion, HTML scripting, and FTP uploads for any photo of yourself which you may decide to provide. As a qualification to my ability and taste, may I suggest that you email Linda Pearson to inquire about the quality of my work. I think she will tell you that my processing of her recent online photo (unseen to the thread but emailed to her) was well executed; in very good taste. -MrB "Anybody who beleives in telekinesis; raise my hand..."