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

To: John Mansfield who wrote (4904)	3/21/1999 10:37:00 AM
From: flatsville	Read Replies (6) \| Respond to of 9818

John-- Several months ago, after model consumer protection legislation appeared on the Cassandra site, I came within inches of throwing myself into the effort. I didn't think what they were proposing was very well written...it had enough holes to drive a tank trough it (it was in fact written by a lawyer)...but that is the problem with model legislation. I emailed them asking for revisions and more info and never heard anything back from them. No slam on Paloma O'Riely...grassroots volunteer efforts are always overworked and never paid. Occasionally I pick up a story by someone proposing similar legislation in one state or another. In the last story I saw, a "business" lobbying group stepped forward to fight it, stating y2k disruptions would just be used as a handy excuse by those not wanting to pay their bills. In an interview the proponents noted that "business" was spending an awful lot of time and money fighting consumer protection laws that protect people from the financial harm y2k disruptions may cause that "business" claims will in fact not happen. The leader of the effort then used a pot-kettle-black, goose/gander argument noting that "business" was screaming for liability protection but wanted to deny similar protection to individuals. (I live to be able to stick it to someone in a press situation like this.) Thousands of workers were stood down, laid-off in the Victoria gas explosion...more than a mere "annoyance" to them I'm sure. When the electric went off in the Aukland Central Business District for a period of months thousands of people lost their jobs and many lost their businesses. There was no comprehensive legislation for those business owners...my understanding was those without business interruption insurance found themselves in bankruptcy court and their workers out on the street...the court said essentially too bad, so sad. Of course if a business was so inclined, y2k business interruption insurance in almost impossible to get and when it is prohibitively expensive. I'm going to check back with Cassandra and see what the updates look like...for the consumer, which is all of us, this will get very interesting from a legal perspective. Got debt?