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Technology Stocks : Forecross Corporation : Y/2000 -- Ignore unavailable to you. Want to Upgrade?

To: Ruyi who wrote (1072)	6/3/1998 2:20:00 AM
From: AD	Respond to of 1654

Doug, Wednesday will give us a little more insight.... "update Government regulators, economists, and corporate executives will testify this Wednesday before the Senate Banking subcommittee on the need to get more meaningful disclosure from publicly traded companies on their Year 2000 preparedness."

To: Ruyi who wrote (1072)	6/3/1998 2:23:00 AM
From: AD	Respond to of 1654

Y2K costs still underestimated By PC Week Staff 06.01.98 When it comes to assessing the real costs of year 2000 conversions, only 3 percent of companies are on target, according to a survey of almost 130 companies by Cutter Consortium, of Arlington, Mass. In the survey, 85 percent acknowledged they have underestimated their year 2000 costs. From a financial perspective, the worldwide estimate for year 2000 costs is greater than $1.3 trillion--equivalent to about 16 percent of the U.S. gross national product for 1997, according to Howard Rubin, a senior consultant with the research company. Some individual U.S. companies are estimating their repair costs at $1 billion, Rubin says. Other findings from Rubin's study, conducted jointly with Cap Gemini America, include: About 37 percent of those surveyed have already encountered a year 2000-related failure; Only 3 percent have done business contingency planning; and 80 percent have had to change their overall approach since starting their initiatives.