To: TrumpCards who wrote (3986 ) 6/6/1998 8:26:00 AM From: drivaldog Read Replies (2) | Respond to of 10343
Excerpts from U.S. News & World Report June 8, 1998 go to the link below for full story. usnews.com The Y2k problem is serious, and companies must hire the right people to solve it very soon. Companies like INFE are well positioned to help other agencies with their y2k problems, such as Social Security agency, FAA, Treasury Department and many others. Please read the excerpts below that support this..... In the private sector, entire industries are bracing for the worst: A recent International Air Transport Association survey of 44 major airlines shows that only 67 percent expect their systems to be fully Y2K compliant by Oct. 1, 1999. Any slippage would put them right up against the new millennium, with entire systems--from scheduling to maintenance--in jeopardy. "Failure to act decisively could have catastrophic consequences," IATA Director General Pierre Jeanniot has warned. Among large companies that reported their Y2K progress to the Securities and Exchange Commission, a study shows that only 42 percent have finished inventories of their critical computer systems. And that's just the first step. Companies next must assess the size of their Y2K problem, decide whether to hire outside technicians, and then begin the slow process of repair. It turns out that progress is even slower in small and midsize companies. A National Association of Securities Dealers survey found that 61 percent of small businesses have not yet come up with a Y2K plan. Late starters are in big trouble because the calendar is immutable and testing can take as long as fixing the software. Moreover, many computers must be tested in tandem with whatever computers they are linked to. It won't matter if Social Security computers are glitchless on Jan. 1, 2000, if the Treasury Department's computers aren't: The Social Security checks still won't get printed. Many industries, such as the airlines, will actually encounter Y2K problems a year early--on Jan. 1, 1999--because they make reservations or plan business activities a year in advance. And some government and financial institutions will hit the Y2K wall at midyear when their fiscal year 2000 begins. For 44 state governments, that means July 1, 1999, and for the federal government and most other companies, it's Oct. 1, 1999. Firms only now starting to tackle the Y2K problem should be thinking about triage, says Larry McArthur, president of the Ascent Logic Corp., which does Y2K risk assessments for companies. He notes that the questions should be: Which of our systems are essential to protection of human life and safety? Or to keep a company from going bankrupt? "Enterprises need to look at this from a survival standpoint," McArthur says.