The problem is suppliers. If they go under, what happens to those dependent on them?
In normal times, a bankrupt firm would be bought by a survivor. But if the cause of the dead firm's demise was bad computer code, no solvent firm is going to buy it. That is why this recession/depression threatens to become a monster.
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"We have created our current systems to treat current dates as two-digits," Robert Rariden, associate professor of applied computer technology at Illinois State University, said Friday during a Business Issues and Answers program for the McLean County Chamber of Commerce at Jumer's Chateau in Bloomington. . . .
The Gartner Group estimates it will cost $650 billion to fix hardware and software, Rariden said. "Five percent to 20 percent of businesses faced with fixing their systems will chose not to fix it and close.
"If 5 percent to 20 percent of your suppliers are gone, we've got major problems."