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Technology Stocks : Y2k Why the stock-market will collapse within days/week -- Ignore unavailable to you. Want to Upgrade?

To: K. M. Strickler who wrote (21)	5/18/1998 6:13:00 PM
From: Paul van Wijk	Read Replies (2) \| Respond to of 185

Ken, You are well informed. It is true that a few months ago the dutch government decided to stop all non-Y2k projects. But lets read between the lines in the ING-BARINGS-report. HEINEKEN, AKZO, UNILEVER, PHILIPS, ING, ROYAL DUTCH, KLM etc. All the blue-chip companies are ranked in a ABOVE AVARAGE OPTIMISTIC scenario ranked as ABOVE AVERAGE RISK to HIGH RISK. So far the story was that we don't have to worry because these compa- nies started early and are fully aware of the problem. They report told us NONE of them is. Ahold was the only positive one. Their plants are still full of embedded systems TIMEBOMBS. Because we know that Unilever raised their budget from $150 mil. to $500 mil. Only 5 to 10% will fail after 2000, only 1% will lead to serious disruption. Probably 10 to 100.000. I don't know. This simply means that we have to shut down (chemical) plants. Proces-industry and chemical industry are both qualified as high risk. Government is managing the power-supply in Holland. Anyone want to guess how big the change is everything will be fine? So far the story about a country that is in front of France (40% dependent on nuclear-energy), Germany (ever heard of the Ruhr-area). There is such an overwhelming evidence that things are not under control. Everybody is still talking about COBOL. If the only problem should be that EVERY COBOL-PROGRAM in the world was totally full of bugs, but the embedded software timebombs were under control I would sign immediately for that scenario. The problems we are facing are beyond imagination. That is why we still deny. So far my personal view on the situation. Paul