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

To: Bill Ounce who wrote (1764)	5/19/1998 10:58:00 AM
From: Bill Ounce	Read Replies (1) \| Respond to of 9818

USA Today -- Y2K bug threatens phone service Old news, except where it's being reported... usatoday.com [...] There's a 50% to 60% chance each major carrier will suffer at least one failure of a mission critical system, says Lou Marcoccio, a research director with The Gartner Group. And that's despite the industry spending more than two years and billions of dollars to rid its systems of year 2000 bugs. [...] Gartner says big U.S. carriers are spending $70 million to $400 million each to fix their year 2000 problem. AT&T, the largest, expects to spend a total of $463 million on the problem in 1997 and 1998. It has hundreds of people working on the problem full time, says AT&T's John Pasqua. SBC Communications Group is spending $250 million to fix its year 2000 problem. The potential legal liabilities are huge. ''If some of these systems go down you are going to have a lot of cases,'' says Steven Brummel, a partner with the Weil Gotshal & Manges office in Brussels, Belgium.