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Summary and Comments

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Category: 

Introduction

Date: 

1998-04-20 14:03:08

Subject: 

Comprehensive Survey: AUSTRALIAN FINANCIAL REVIEW

  Link:

http://www.afr.com.au/content/980420/survey/index.html

Comment: 

The AUSTRALIAN FINANCIAL REVIEW (April 20) has provided the most comprehensive y2k survey of any mainstream financial magazine so far.

* * * * * * * *

Special Report: The Millenium Bug

It's a $1 trillion jigsaw puzzle without borders There's no longer any question of it: the Y2K problem is real, it's expensive, and, worst of all, the full force of the problem is greater than the sum of its individual manifestations

IT industry cashes in on looming catastrophe If the victims of the Y2K crisis spend what they expect to, the IT industry stands to reap about $5.5bn in Australia -- and perhaps even double that.

Assessing the risk: sector by sector The Y2K bug is not just a corporate problem -- the entire supply chain is at risk, warns Kath Cummins.

Tax relief uncertainty for bug-fixing by business Will Y2K work be considered a repair, which is claimable, or an improvement, which is not? Business is anxiously awaiting a draft ATO ruling due by the end of this month.

Experts turn sleuth to track down embedded chips Embedded chips have been described as the 'forgotten millennium bug' and tracking down those at risk involves considerable sleuthing.

Simple software tests provide no solution Businesses that rely on Y2K software solutions may be in for a nasty surprise, writes Steven Welchman.

Small business could face a very expensive update It is imperative small businesses start planning now, otherwise they may find themselves at the end of a very long list.

Going to hospital is looking unhealthy Along with flying and drawing money out of ATMs, getting sick is looking a distinctly unhealthy option in early 2000, writes Beverley Head.

The West turns to India for cheap bug busting In old Madras, huge teams of Indian programmers are locating and killing the bug, writes John Davidson .

Back from the hills of Nimbin to the big bucks Cobol programmers, who a few years ago struggled to find a few unglamorous jobs maintaining mainframes are now asking -- and getting -- up to $200 an hour.

Bug effect as big as Asian crisis Y2K could cut half a percentage point off US growth in 2000 and early 2001 -- the same size as the expected economic damage from the turmoil in East Asia.

Asia is unprepared for the impact Much of Asia is distracted by its economic crisis and dangerously underprepared for the Y2K bug.

Lawyers log on for the coming crash Any business which believes it can take its IT supplier to the cleaners if its systems fall over had better think again.

Legal catch-22 complicates corporate compliance Companies seeking to supply information about their compliance are facing a legal dilemma.

Beware: your insurance may not cover the bug Insurance policyholders should not expect to be automatically covered by existing policies for losses caused by the millennium problem.

Can't say we weren't warned about Y2K problem Too few have fixed the Y2K problem, writes Graeme Philipson.

How did we get in this mess, anyway? A brief synopsis of how the Y2K bug evolved.

How to deal with the bug: one company's story The case of Medical Mutual suggests some companies may have left their Y2K run too late.

Millennium links A brief directory of web sites devoted to aspects of the Y2K problem.

Link: 

http://www.afr.com.au/content/980420/survey/index.html

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