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Technology Stocks : Discuss Year 2000 Issues -- Ignore unavailable to you. Want to Upgrade?

To: Cheeky Kid who wrote (4457)	3/10/1999 12:59:00 PM
From: firstman	Respond to of 9818

General Accounting Office of the U.S. Gov: Much Work Remains to Avoid Major Disruptions gao.gov gao.gov The Public Faces Risks of Year 2000 Disruptions The public faces a risk that critical services provided by the government and the private sector could be severely disrupted by the Year 2000 computing problem. Financial transactions could be delayed, flights grounded, power lost, and national defense affected. Moreover, America's infrastructures are a complex array of public and private enterprises with many interdependencies at all levels. These many interdependencies among governments and within key economic sectors could cause a single failure to have adverse repercussions in other sectors. Key sectors that could be seriously affected if their systems are not Year 2000 compliant include information and telecommunications; banking and finance; health, safety, and emergency services; transportation; power and water; and manufacturing and small business. The following are examples of some of the major disruptions the public and private sectors could experience if the Year 2000 problem is not corrected. • With respect to aviation, there could be grounded or delayed flights, degraded safety, customer inconvenience, and increased airline costs.5 • Aircraft and other military equipment could be grounded because the computer systems used to schedule maintenance and track supplies may not work. Further, the Department of Defense could incur shortages of vital items needed to sustain military operations and readiness.6 • According to the Basle Committee on Banking Supervision--an international committee of banking supervisory authorities--failure to address the Year 2000 issue would cause banking institutions to experience operational problems or even bankruptcy. • Medical devices and scientific laboratory equipment may experience problems beginning January 1, 2000, if their software applications or embedded chips use two-digit fields to represent the year. ......excerpted..... my apologies if this has already been posted