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Technology Stocks : TAVA Technologies (TAVA-NASDAQ) -- Ignore unavailable to you. Want to Upgrade?

To: Jack Zahran who wrote (12790)	3/18/1998 8:04:00 PM
From: E	Read Replies (1) \| Respond to of 31646

If it weren't for the Financial Times, I couldn't come to this party... Financial Times, March 16, excerpts from two y2k articles. I. INSURERS CONSIDER '2000 BOMB' CLAUSES Marine and aviation insurers may introduce exclusion clauses designed to protect them from claims relating to the millennium "bomb"... Commercial insurers have several concerns. Ships and aircraft, for instance could lose power because of the problem... "We are trying to coordinate a common approach and are looking to create an exclusion clause," said Stephen Redmond, chairman of the Institute of London Underwriters..."We'll pay for fortuities, but we won't pay for inevitabilities."... Mr. Redmond said marine insurers were also discussing providing cover as long as policy holders demonstrated their systems were compliant... II. INVESTORS BET ON 'MILLENNIUM FLY' US hedge funds have taken substantial bets in the financial markets that the millennium bomb will paralyse the banking system on January 1, 2000. Futures brokers said there had been heavy selling of December 1999 futures contracts in US and German interest rates, in a financial transaction nicknamed the millennium fly... ...One trader said: "In December 1999, money could become very expensive. People will be out partying for the millennium, computers could be breaking down, and so there could be a scramble for cash. This would be made worse if the bomb has a broader economic impact."... Other investors suggested that the hedge funds were scaremongering... [What kind of person would smile while typing such material? I'm shocked, shocked at myself.JM]