Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : TAVA Technologies (TAVA-NASDAQ) -- Ignore unavailable to you. Want to Upgrade?

To: Ron M who wrote (18800)	6/19/1998 2:47:00 PM
From: Steve Sanchez	Read Replies (2) \| Respond to of 31646

nice find ron! i hope you don't mind the excerpt below: ... "Much like the debate over the magnitude of the software problem, experts disagree on what will happen to devices with date-dependent microchips. "We look at the elevators, lawn sprinklers, lights, alarm and hvac systems," says B&V's White. "The list just goes on and on and on." But he cautions that the "embedded systems" problem may be overstated. "Fear is a big part of the sales in this process," says White, although he points to more information sharing among vendors and less "trying to cut each other's throats." To help private firms with embedded chip detective work and preventive medicine, facilities consultant Bair suggests that plant owners get help learning how the facility was designed and built. "Find an old-timer," he says. But Philip Lian, senior vice president of Aon Risk Services Inc. of New York, New York City, says that neither designers, contractors or owners are adequately thinking about the embedded chip issue. "I'm beginning to believe that contractors are in for a fall," he says. Lian says that on a recent turnkey hospital project, his contractor client was asked by the owner for assurances that the building was year-2000 compliant before turning it over. "It's essentially after the fact [that they were asked] and they know they're going to have problems," he says. Aon is one of a few firms that insures against failures from computer hardware and software failing to recognize the year 2000. Coverage includes contingent business interruptions, business losses of third parties, claims brought by others from a firm's failures and other issues. Annual costs for the coverage equal 3% to 6% of the limit of liability purchased....up to $100 million, with excess limits up to $1 billion. "No takers yet in the construction arena," according to Lian. But increasingly, owners, designers, contractors, and others are exchanging letters indicating the need to be Y2K compliant. "They're called 'friends of the family' notices," says Gary Prather, director of loss prevention at San Francisco risk manager-insurer dpic Inc. The U.S. General Services Administration's buildings working group has developed recommended language for all new and existing lease contracts that make the lessor responsible for insuring that building systems are Y2K compliant. It also maintains a compliance database. But Y2K "certification" is still unclear. "[Insurers] don't yet know what that means," says Prather. The Arlington, Va.-based Information Technology Association of America, a non-profit group of information technology firms, offers a rigorous audit to certify firms. Of 600 applicants that have paid $250 for its detailed questionnaire, about 85 have submitted to the $9,000 evaluation process. To date, 75 firms have been approved; 10% have failed. For companies that probably won't have all of their systems fixed by 2000, experts recommend getting a plan together for dealing with the inevitable. Lloyd Raines, a consultant for Syntax Communication Modeling Corp., Washington D.C., says firms should back up all important documents: "In a worst-case scenario, hard copies may be the only thing you end up with." Experts predict construction will come out relatively unscathed. "I suspect we'll be able to handle it better than most industries," says Richard Tucker, director of the Construction Industry Institute, Austin, Tex. "We're used to working in a dynamic environment." By Matthew Phair, with bureaus (end of excerpt) as a reminder: TAVA - AON Alliance techstocks.com best of luck, steve