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Technology Stocks : Y2K (Year 2000) Stocks: An Investment Discussion -- Ignore unavailable to you. Want to Upgrade?

To: Risky Business who wrote (12528)	7/30/1998 1:51:00 PM
From: P. Ramamoorthy	Respond to of 13949

cbs.marketwatch.com SEC requires full Y2K disclosure - Investors aren't getting enough information, Levitt says By Rex Nutting, CBS MarketWatch Last Update: 1:59 PM ET Jul 29, 1998 Also see NewsWatch WASHINGTON (CBS.MW)ÿ-- With just 520 days to go until the millennium, almost every public company was ordered Wednesday to tell investors about any risks posed by the year 2000 computer bug. "We shouldn't kid ourselves that this issue will only affect selected industries or groups," said SEC Chairman Arthur Levitt as the commission adopted a new interpretation of its disclosure rules. "One company's lack of readiness could have adverse consequences for countless other companies." See a list of year 2000 stocks. Some economists, notably Ed Yardeni of Deutsche Bank Securities,ÿ fear that the computer bug will drive the U.S. economy into a year-long recession as hundreds or thousands of companies find themselves unable to do business. See Ed Yardeni's year 2000 site. Safe harbor The SEC voted unanimously to require nearly every corporation to disclose the risks of a Y2K failure in their quarterly and annual reports to the commission and the public. The new requirement will take effect for most corporations in the third quarter. Year 2000 disclosures will be covered under "safe harbor" provisions that shield companies from some litigation risk. See the SEC's year 2000 site.. The SEC also adopted similar requirements for investment advisers, brokers and dealers, and for municipal securities dealers. Levitt said lack of information about Y2K risks could set off "panic and overreaction" and disrupt the economy. Material effect Under SEC regulations, corporations are required to disclose any upcoming event that would have a "material effect" on their business, but many companies have ignored the Y2K problem in their reports, even after the SEC staff issued a legal opinion last year advising them that a massive computer failure, either in-house or among customers or suppliers, would have a "material" impact. "Failure to address this issue can be terminal," Levitt said. More than 70 percent of corporations used the phrase "year 2000" in their annual reports in the first four months of 1998, but the disclosure was just boilerplate in too many cases, the SEC staff found. The new interpretation will require all companies to consider their Y2K risk and to file a meaningful disclosure if they have not yet completed their assessment of the risks or if Y2K would have an material effect if the company did nothing. The disclosure would cover four items: the company's readiness, the cost of remediation, the risk of failure and the company's contingency plans. "The vast majority of companies have year 2000 issues," the SEC said. Many critics of the SEC called for a formal rulemaking on Y2K disclosure, but Levitt said Wednesday that there simply isn't enough time. Brian Lane, director of the SEC's corporate finance division, said a formal rule wouldn't do anything the interpretation didn't. Sen. Robert Bennett, R-Utah, and chairman of the Senate's special year 2000 committee, has introduced legislation that would require full disclosure by public companies of Y2K risks. See Sen. Bennett's year 2000 web site. ÿ Ram

To: Risky Business who wrote (12528)	7/30/1998 3:21:00 PM
From: airborn	Read Replies (2) \| Respond to of 13949

I cannot believe that these two company's COGIF and ALYD report such good quarter's and yet they either go down or stay the same, it seem's like they could make 25 Million profit and the stock would still not move, most disheartening, Profits, revenue, contracts, don't they matter anymore, is it just nobody is interested in Y2K company's, will they ever make a comeback? Alydaar Software Corporation Reports 350% Increase In Revenue And Earnings Of $2,846,000 Or $0.16/Sh For 2nd Qtr 1998 Vs Loss Of ($2,345,000) ($0.16/Sh) For 2nd Qtr 1997 COGNICASE Announces Record Third Quarter, Nine Month Results - Third Quarter Revenue Increased 768 Percent - Nine Month Earnings Growth of 851 Percent Probably just when the little guy decide's enough is enough and bail's out than the Big Mover's and shaker's will come in and make all the profits and gain's on these stock's, well I for one am not giving up!