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

To: Cheeky Kid who wrote (1729)	5/9/1998 3:24:00 AM
From: John Mansfield	Read Replies (1) \| Respond to of 9818

[INSURERS] 'London insurers launch millennium bug risk index 12:53 p.m. May 08, 1998 Eastern By Nicholas Moss LONDON, May 8 (Reuters) - London market insurance companies have launched an index designed to help measure the risks associated with the millennium computer bug. The LY2K index, which assesses the exposure of various industries in different parts of the world, reflects growing concern about the millennium bug within the insurance community, London market representatives told Reuters. ''The index will be of great assistance to those underwriters assessing business that will be impacted by computers failing to handle millennium date changes,'' the London International Insurance and Reinsurance Market Association (LIRMA) said in a statement. ... The prototype LY2K index, developed in conjunction with the U.S. IT consultancy Gartner Group, determines whether areas and industrial sectors are at low, medium, or higher than average risk. ... The model uses factors such as national awareness to the 2000 problem and a country's efforts to tackle it, to calculate a number from one to 10 as an approximate guide to the typical risk level. The sectors covered include financial services, process manufacturing, utilities and public administration. Matthew Petzold, managing director of reinsurance group Copenhagen Re and deputy chairman of LIRMA's Year 2000 sub-committee, said it wants additional members to fund the main project and ongoing research necessary to update the index. ''This is an urgent project which we need to get going,'' said Petzold. infoseek.com

To: Cheeky Kid who wrote (1729)	5/9/1998 2:02:00 PM
From: Cheeky Kid	Read Replies (2) \| Respond to of 9818

I thought this article raise some good points: wired.com Excerpt: <<<<Obviously, this phenomenon proves a boon to makers of networking hardware and software, companies such as Oracle, IBM, and Germany's SAP AG. But less obviously, it could provide eventual cost savings to those companies' clients, boosting productivity at firms that junk their old systems and adopt new technology. "There are significant opportunities if we see this wholesale shift, and in the long run that might be the cheapest fix of all," Barry said. >>>> I also liked this one from Bull (excerpt): <<<<Systems using the old two-digit date format, even if they are still functioning correctly, will probably be incurring such high maintenance costs that upgrading to a more modern, Year-2000-ready replacement will make sound economic sense.>>>> It looks like the Y2K bug may push businesses into upgrading old systems to newer technology. There may be a silver lining for the ones that do, as their employees will be more productive. However no one likes change, the ones that are willing to adapt to change have a far more chance of success than those who fight it. The articles put it allot better than I did. Fixing antique software and computer systems makes no sense to me.