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

To: John Mansfield who wrote (1329)	3/29/1998 5:31:00 AM
From: John Mansfield	Respond to of 9818

'100,000 dogs in a field all sniffing around each other.' - Supply chain analogy 'Will the bug bite your wallet? ' 'But the worst is unlikely to happen, and regulators are becoming concerned that the threat of the bug is being overplayed. A senior executive at the Financial Services Authority says: "It's premature to talk in terms of a major financial collapse. If a number of big financial organisations get it wrong it could have an impact on markets and the world economy but everyone is working hard to make sure it doesn't happen, and at the moment it is nothing more than just a risk." Therefore, you should not rush to turn all your assets into cash or gold - which could cause the system to collapse, regardless of the millennium. 'But some of Britain's largest companies are still not convinced by this guarantee - London Electricity will issue all its engineers with bicycles in case traffic lights fail. Companies are terrified that no matter what they do, it may all prove useless if there is a weak link in their supply chain. Ray Peers, the executive director of information technology at Fidelity, says: "The analogy we use is of 100,000 dogs in a field all sniffing around each other. We are now trying to vet and validate all our suppliers, but there is no industry standard so it is extremely difficult." sunday-times.co.uk