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

To: David Eddy who wrote (987)	1/29/1998 3:00:00 PM
From: Clayleas	Respond to of 9818

This just out from the Federal Reserve Release Date: January 28, 1998 For immediate release The Federal Reserve Board announced today that the Reserve Banks will adhere to a standard holiday schedule next year and remain open for normal operations on December 31, 1999. Although various financial and trade groups have been considering whether a banking holiday on December 31, 1999, would ease potential disruptions that may be caused by the century date change, the Board believes that a banking holiday is not warranted. The Board said bank resources would be better spent preparing for the year 2000 change-over rather than addressing the operating, financial, legal and other consequences that would flow from a date-change holiday. As part of its year 2000 preparations, the Federal Reserve plans a comprehensive program for banks to test computers used for Fedwire transfers, automated clearing house transactions, and other central bank services for compliance with the date change. A schedule will be issued shortly with actual testing beginning at mid-year and continuing through 1999. This program will permit banks to send test transactions across a variety of dates pertaining to the century date change. Testing for depository institutions will be coordinated through their district Federal Reserve Banks. bog.frb.fed.us

To: David Eddy who wrote (987)	1/29/1998 9:20:00 PM
From: sibe	Read Replies (2) \| Respond to of 9818

IBM may be sued for causing the Y2k problem. You wrote, "On what basis? If I make a hammer & you buy it & then kill your mother with it, am I libel for having manufactured that hammer? We kill 40,000+ people year-in & year-out with cars (& alcohol)... I haven't heard of Detroit needing to defend itself as maker of murder weapons." If you knowingly sold me a defective hammer and that caused a problem, I may have a case. But I guess that's what the lawyers will be arguing. People also voluntarily smoke, but the tobacco companies are now paying for the health problems and deaths.