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

To: J.L. Turner who wrote (5689)	5/11/1999 11:32:00 AM
From: C.K. Houston	Respond to of 9818

AMERICA'S LARGEST COMPANIES AMONG Y2K LAGGARDS 08:02 a.m. May 07, 1999 Eastern PALM BEACH GARDENS, Fla.--(BUSINESS WIRE)--May 7, 1999-- Wal Mart, Intel and Conagra rated "Low" for Y2K Progress; GM, Ford,Texaco, Chevron, Bell Atlantic rated "Below Average" Some of nation's largest corporations are among the furthest behind in fixing their computer systems for the millennium, according to Weiss Ratings, Inc., the only provider of Y2K readiness ratings on banks, insurance companies, and Fortune 1000 companies. Among the 50 largest nonfinancial corporations in America (by revenues), three companies -- Wal Mart, Intel, and Conagra -- received a Weiss Y2K Rating of "low," indicating potentially serious delays in fixing their computer systems for the year 2000. Meanwhile, 11 of the 50 largest companies received a Y2K rating of "below average." These included America's two largest corporations, General Motors and Ford, as well as Texaco, Chevron, Bell Atlantic, Motorola, PepsiCo, Kroger Company, SBC Communications, United Technologies, and Compaq. None of the nation's 50 largest nonfinancial companies merited a Weiss Y2K Rating of "high," and only three of the largest 100 received a "high" grade -- Costco, American Stores, and AMR. Smaller companies among the Fortune 1000 receiving "high" Weiss Y2K ratings include Northrop Grumman, Continental Airlines, Consolidated Edison, and Unisource Worldwide, Inc ... Among the 61 electric and gas utilities receiving a Weiss Y2K Rating, 69% received "below average" or "low" Y2K grades, while only 5% received "high" ratings. Among 19 telecommunications firms rated, 68% received "below average" or "low" grades, with none receiving a "high" grade. Weiss also publishes financial safety and Y2K readiness ratings on insurers, banks, and S&Ls. The accuracy of its ratings has been favorably reviewed by the U.S. General Accounting Office (GAO) as well as national consumer organizations ... infoseek.go.com Cheryl