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Summary and Comments

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Category: 

Too_Late

Date: 

1997-04-09 00:00:00

Subject: 

Fortune 500 Companies Have Not Yet Begun Code Repairs

Comment: 

A Reuters report (April 9, 1997) reports on a survey of Fortune 500 company information technology officers. Of those surveyed, under 13% said their firms had implemented plans to correct the y2k problem. Another 18% said they had developed a plan of action. Of the 18%, 87% said they planned to hire outside firms to do the work.

Some 97% of those polled said that funds allocated to solve the y2k problem amount to 20% or less of their information technology budgets.

The likelihood that America's largest, richest companies will meet the year 2000 deadline, let alone the 1999 deadline, is now virtually nil.

Plan accordingly. I recommend that you allocate over 20% of your present budget to solving your personal y2k problem. If you think that the Fortune 500 managers are derelict in their duty, don't be derelict in yours.


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