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

To: Henry Volquardsen who wrote (161)	5/28/1998 10:25:00 AM
From: Paul van Wijk	Respond to of 185

NCM : Wave of bankruptcies because Y2k-bug. Source Volkskrant, 27 mei The Dutch Creditassurance Holding (NCM) expects the Y2k-bug will cause a wave of bankruptcies worldwide. "We estimate the number of bankrupticies caused by the Y2k-bug at 10 to 15%, maybe even 40%" Chairman of the Borad M. Hulshoff said. In the scenario he paints a scenario in which the Asian-flu & Y2k-bug will merge. Asians companies could, in their struggle to survive, forget to take measurements against the Y2k-bug. 99% of NCM's customers is aware of the Y2k-bug, but only 18%- not a lot according to Hulshoff- has made plans. 28% has no idea what to do, don't expect to be finished on time of says to be finished at 31 december 1999(????, weird sentence, I translated it 1 to 1, personally I don't understand the logic). If the Y2k-bug spreads, it could infect the world fast. It could be a deadly cocktail. He didn't dare to give an estimate of the maximum damage. In contrast with banks, who are according to him, fully loaded with loans to companies, credit-assurances still have the change to take action when the first claims come in. The rest of the article is about Asia and especially Indonesie. He describes the situation in Indonesie as very critical. Paul van Wijk