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Summary and Comments

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Category: 

Stock_Market

Date: 

1997-06-27 00:00:00

Subject: 

Merrill Lynch: $200 Million for Y2K Repair

  Link:

http://www.afr.com.au:80/content/970626/inform/inform4.html

Comment: 

This report in the Australian magazine, FINANCIAL REVIEW (June 26) says that Merrill Lynch expects to pay $200 million (Australian $268m). This is 40% of Merrill Lynch's projected budget for its information technology (IT) department.

Merrill Lynch says it will be Year 2000-compliant in the third quarter of 1998.

This estimate is common in many private firms. It is so common that I wonder how it is possible for management to be so sure that their staffs will meet it. If every task is different, and every system is different, how is it possible that every company will be ready for testing in late 1998? Could it be that the late 1998 date is what management wants to hear, and therefore programmers tell them what they want to hear? It's just a question.

Here is another question: How will managers who don't understand COBOL or the other languages their companies' systems rely on know whether the programmers are on schedule or not?

They'll know in late 1998. Then all that lies ahead is testing . . . if the programmers met the late 1998 deadline.

Do you plan to be in the stock market in early 1999?

Link: 

http://www.afr.com.au:80/content/970626/inform/inform4.html

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