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To: M. Frank Greiffenstein who wrote (16802)	5/13/1998 4:48:00 PM
From: Ken Salaets	Respond to of 31646

nothing new but... The Netly News / Afternoon Line May 13, 1998 Boom, Boom, Out Go the Lights The good news: Computers in securities firms and brokerages will survive the perilous transition to 1-1-00. The bad news? There may be no electricity to power them. At a breakfast briefing today, an industry representative assured about 80 congressional aides that securities companies were in excellent health. "There will be a successful conversion to Year 2000 in the United States in the securities industry," predicted David Hall, chair of the Securities Industry Association's Y2K committee. An industry-wide test is scheduled for March 1999, with a trial run this summer. As for the rest of the world, well, "when you get into emerging markets, there could be turmoil." ...Speaking last was David Hall, an embedded-systems consultant at Cara Corporation, who warned of power outages. "Every test I have seen done on an electrical power plant has caused it to shut down. Period. I know of no plant or facility investigated to this date that has passed without Y2K problems," he said. Added Hall: "Things like this come out and the mass media gets ahold of it -- you're going to have shortages because of panic. How to communicate this to the public needs to be addressed." It's a little late now. --By Declan McCullagh/Washington