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

To: AD who wrote (1495)	11/23/1998 9:32:00 AM
From: Dennis Wayne Kost	Read Replies (1) \| Respond to of 1654

AD and Rick, I think the only way shareholders can recapture value in this issue will be a buy out in 1999. Bigger companies may need FRXX's ability to do faster work soon. Obviously the company is suffering from its inability to be a stand alone retail provider of Y2K. Maybe a retail "team" member will pay 10-20 for this company. If that range is offered and is not accepted we should hold a share holder meeting!!! Dennis

To: AD who wrote (1495)	12/5/1998 3:30:00 PM
From: Ruyi	Respond to of 1654

Corporate Y2K costs soaring - BusinessWeek NEW YORK (Reuters) - Major U.S. corporations and experts are hastily beefing up their projections of how much it will cost to adjust computers to cope with the millennium change less than 13 months away, according to a feature story in the December 14 issue of BusinessWeek. Technology consulting firm Gartner Group Inc. (GART - news) in Stamford, Conn., warns the global cost could hit a whopping $1 trillion, $600 billion in pre-year-2000 costs and the rest coming after the big event, the article said. From an investment prospective, many corporations now say that, to fix the problem, they will have to spend about 26 percent more than they thought just a few months ago, the article said. For example, AT&T early last year thought it might spend around $300 million on the problem but now the corporate giant says it could be triple that, the magazine said. Among others, Chase Manhattan Corp. raised its estimate 21 percent to $363 million, the article noted. ''Now, companies are testing repairs and finding that some don't work properly,'' the article said. ''And with less than 400 days to go, some are saying they can't make all their fixes on time and will have to find ways to do business, regardless,'' the article said. Who knows maybe FRX will still pull a rabbit out of the hat.

To: AD who wrote (1495)	12/23/1998 3:48:00 AM
From: Ruyi	Read Replies (1) \| Respond to of 1654

AD there is still lots of money to be spent and factory solutions are the quickest and cheapest way to go. AN exerp from an article I read today . Despite all the warnings, it wasn't until early 1998 that the public and many businesses around the world accepted that the Y2K problem will be a significant challenge to repair and endure. It wasn't until February that President Clinton appointed John Koskinen Y2K czar, launching a concerted federal effort to repair the problem and get the word out to business, the public and foreign nations. Unfortunately, as knowledge grew, so did fear. Congress took action late in the year, passing Good Samaritan legislation that provides limited liability protection to companies that share their Y2K status. The Securities and Exchange Commission issued a rulemaking late in the summer, requiring that publicly-traded companies disclose their Y2K-related expenditures in quarterly reports. "Any business that approaches the new year armed only with a bottle of champagne and a noise maker is likely to have a very big hangover on New Year's morning," President Clinton said in a speech on the problem at the National Academy of Sciences. But on the governmental front, Clinton has been mostly silent. Throughout the year, as the still-critical Y2K condition of some federal agencies was revealed, including a disturbing report that the Defense Special Weapons Agency, which manages the nation's inventory of nuclear weapons, had faked its Y2K compliance reporting, Clinton has left the issue alone. Fear grew in an informational void Awareness, followed by a long hiatus before reliable information about Y2K only increased the public's anxiety. At the dawn of 1999, the world is gripped by a millennium bug panic, because of the complexity and ubiquity of the problem. And, then there's the cost, which as skyrocketed. The information flow really didn't begin until the fall. The federal government has bumped its Y2K repair estimate up throughout the year. The bill now sits at $6.4 billion. Throughout the fall, corporate Y2K costs piled up. For example, the top 60 insurance companies will spend $2.1 billion; the 12 largest banks will dish out $1.75 billion. Kmart, the number-three retailer, will spend $75 million. Sears, Roebuck and Co., the second-largest retailer, revealed it had spent $67 million by the fall and that it will ultimately cost the company $143 million to repair its Y2K problem. At some small companies, it became clear that Y2K repairs will consume the profit earned in a normal quarter. The apparent suddenness of these has been left with the impression that most work is still uncompleted and that the scope of the problem cannot be estimated.