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Technology Stocks : 2000 Date-Change Problem: Scam, Hype, Hoax, Fraud -- Ignore unavailable to you. Want to Upgrade?


To: Jim who wrote (925)11/18/1998 10:56:00 AM
From: Sawtooth  Read Replies (1) | Respond to of 1361
 
Yes, I've seen the news about Cananda. Several US states have taken similar action. Here's a recent article about Wisconsin (I think the hyperlink's been eliminated):

National Guard ready to act on eve of 2000 Computers' confusion could endanger safety, experts tell lawmakers.

"I don't want to scare the public, but when we start talking about mobilizing the National Guard, people should realize how serious this is."

By Amy Rinard
of the Journal Sentinel staff
October 07, 1998

Madison -- The Wisconsin National Guard is prepared to be mobilized on Dec. 31, 1999, to deal with potential power failures, water system shutdowns and other problems that could occur as computers click over to the year 2000.

And an attorney for a major electric utility said the company is encouraging its customers to look into alternative energy sources, including home generators, in anticipation of power failures as a result of the problem.

After a daylong hearing by an Assembly committee Tuesday on the so-called Y2K problem, it was clear no one really knows what will happen at 12:01 a.m. Jan. 1, 2000.

"The only thing we do know is that there will be problems," said Rep. Sheryl Albers (R-Loganville), the chairwoman of the committee. "We don't know what will fail. It could affect a small area or a big area or the entire state."

Mari Nahn, an attorney with Madison-based Alliant Corp.-Wisconsin Power & Light Co., said power failures are likely, as are failures of municipal water systems.

Computer chips embedded in everything from pacemakers to coffee-makers have the potential to fail, and in many cases people don't even know they're there, Nahn said.

In the utility industry, embedded chips are used everywhere, she added.

Albers said she will introduce legislation in January to put the Wisconsin National Guard on standby on Dec. 31, 1999, to be ready to address any problems caused by computer shutdowns.

Those problems could include small or widespread power failures, the failure of municipal water or sewage systems and even the failure of security systems at prisons, Albers said.

The problem is a result of computers recognizing a year by its last two digits. Unless they are reprogrammed, many could stumble when they read the year as 00.

State and local governments, school districts, utilities, businesses and many households all over Wisconsin already are working to fix that computer glitch.

Despite those efforts, state officials and computer experts say problems are still likely to occur.

So Alberts said National Guard members could be called upon, for example, to help evacuate hospitals that lose power and heat or to help haul water to communities whose water systems have shut down.

"I don't want to scare the public, but when we start talking about mobilizing the National Guard, people should realize how serious this is," Albers said.

Col. Kerry Denson, deputy adjutant general for the Wisconsin Army National Guard, said the Guard has been planning for several months in preparation for Jan. 1, 2000.

"We're expecting Y2K problems. There are so many what-ifs that there certainly will be problems, and we're putting plans together," said Denson, who was not at Tuesday's hearing. "It's the same kind of planning we do in advance of a snowstorm or a tornado. When something happens, you always expect the Guard to respond. I never thought I'd be responding to a computer problem, but we'll be ready."

Denson said he expects to have a number of National Guard members on standby the night of Dec. 31, 1999, and he joked that those Guard volunteers may be the only sober people in Wisconsin on the biggest New Year's Eve in a millennium.

"We'll put people on standby and bring in additional soldiers if we need them," he said.

The Guard already has started taking an inventory of all its emergency generators and expects to have a crew assigned to each generator that night in the event power goes out somewhere and those generators are needed, Denson said.

"The National Guard is not going to go out and fix your computer. We're going to go out and deal with the consequences of your computer failing," Denson said.

Rep. Jeff Plale (D-South Milwaukee), a member of the Assembly's committee on the problem, said he believed legislation authorizing the mobilization of the Wisconsin National Guard on Dec. 31, 1999, is needed and will be approved by the Legislature as a precautionary measure.

"It's pretty up in the air what will happen at 12:01 a.m., but the possibilities are endless," he said. "I don't think people realize how big of a problem this has the potential for being. This could be a real disaster, and we should have the National Guard out to deal with any problems."

Leonard P. Levine, professor of computer science and electrical engineering at the University of Wisconsin-Milwaukee, said having troops on standby is "not unreasonable."

"It's a pretty strong move, but what I'm sure is going to happen is that an awful lot of people who are worried about infrastructure will take measures like this," said Levine, who did not attend Tuesday's hearing.

"Somewhere -- no one knows where -- something will fall apart. I truly believe that someone is going to die because of this problem. . . . I'm sure that one of these utilities is going to fail."




To: Jim who wrote (925)11/19/1998 10:32:00 PM
From: David Eddy  Respond to of 1361
 
Jim -

I assume that if there had been a problem with mortgages (or future
yields, or credit card expiry dates etc), this would have been well publicized by the Y2K zealots.


Please don't confuse the stories circulating on the 'Net with solid facts. Because of the complexity of things Y2K, overly simplistic examples have been promoted to urban myth status...elevators plunging to the basement, failing pacemakers, VCRs, etc.

One tiny fact about interest calculations is that they don't actually use dates. Such calculations use "n"...the number of PERIODS. Obviously that integer is often just a check box on a form...10 year (120 months), 15 year (180 months), etc.

Another aspect is that 30 year mortages did indeed start to have problems in the 1970s & were tackled then.

Personally I have had a credit card with a 00 expiry date rejected. It's a card that I use regularly. It comes down to the equipement (a cab in this instance) being used.

Much of the stories you see in print are just 99th retellings (now cast into gospel from the 'Net) because reporters are under deadline & don't know how to dig up real stories. Besides, operational failures at 2am happen all the time...they're hardly news.

One of the major problems with reporting on Y2K is that information systems are terrifically interelated & it often takes even the owners of the systems months to understand when a failure has occured.

- David



To: Jim who wrote (925)11/20/1998 1:42:00 PM
From: Sawtooth  Respond to of 1361
 
Anyone interested in possible Y2K ramifications on banking/finance may be able to get some useful info re:mortgage (loans) and credit card risks here:

yourdon.com

This is the two author's opinion, of course, but I find their facts credible and their arguments reasonable.