Brian Jones
Moderator
- Joined
- Jan 17, 1999
- Messages
- 7,560
Folks,
If you haven't read Ron and Karen Hood's musings on Y2K, and seen their suggested preparations, I highly reccomend you go here:
http://www.survival.com/y2k.htm
and study up on it. Their list of preparations is top-notch.
I did Y2K contingency-plan consulting for the corporate world: I'm not a techie myself, but we dealt with all the other ramifications, businesswise and legally, that may affect companies if they or their key suppliers or customers went down. One of my strategic partners, an attorney, was tasked by the White House to go down there and assess certain legal ramifications if the government fell down from Y2K. He came back sweating, folks. He moved many of his investments into commodities, and absolutely refuses to go on any planes around that time. (Me, too!) He still feels, from seeing first hand evidence, that many government-run infrastructure problems may result, and that, to avoid panic, or because it has its head in the sand, the government is putting too happy a spin on things.
Banks have been suing some ATM manufacturers for not getting on the ball, and you probably have noticed a great many brand new ATMs installed in your local bank branches: they had to buy new ones in many cases. Not all banks have done this. The FDIC says about 80% of banks are now compliant (as best as this can be assessed -- I mean, what the hell DOES compliant mean anyway, eh?). They've listed banks that are not compliant at their website http://www.fdic.gov . !!EDITED NOTE: I just went back there and they've posted a notice that no such list exists. This, after I saw an interview on TV with an FDIC person who said it DOES exist. Read the front article on the site for more info -- apologies. However -- I do stand by my 80% of banks (rather than 99.9% as said on the FDIC site) number as the one that was thrown around recently...!!
We had also studied other nations. One Far Eastern country, whose top ministers my attorney/partner met with (he does legal representation for their government on trade issues here in the US), asked him, "What's Y2K?" when he brought it up. This was at he end of 1997 -- they hadn't done anything yet or even known about it. By mid 1998 they had only begun to recognize a hint of a problem. They later asked for our help but we were too busy doing other things, like getting the hell out of that business! From the US standpoint, because many of the US's trade partners are non-compliant, a worldwide economic recession is likely, and that will have an enormous impact on the economy in the US, too.
I'm not trying to be an alarmist, but the reality is: nobody really knows what'll happen, folks. So we should always assume the worst in terms of preparations, etc.
Y2K is one month away from today. So the question:
Are you making Y2K preparations of any kind? If not, do you think you might start (especially after having read Ron and Karen's site)? What about your friends and extended family? If they are not prepared, do you have extra supplies to help out these loved-ones if the situation arises? If the heat shuts off, and you live in cold climates, are you ready to use alternative sources of heat? Many other issues.
Ron, Karen, and Greg: for those who haven't prepared at all, and now have changed their minds or just woken up, what are a few key things they can still do as an emergency last-minute prep strategy from now until then, with the consideration that some might not have great financial resources?
Best,
Brian.
[This message has been edited by Brian Jones (edited 01 December 1999).]
[This message has been edited by Brian Jones (edited 01 December 1999).]
If you haven't read Ron and Karen Hood's musings on Y2K, and seen their suggested preparations, I highly reccomend you go here:
http://www.survival.com/y2k.htm
and study up on it. Their list of preparations is top-notch.
I did Y2K contingency-plan consulting for the corporate world: I'm not a techie myself, but we dealt with all the other ramifications, businesswise and legally, that may affect companies if they or their key suppliers or customers went down. One of my strategic partners, an attorney, was tasked by the White House to go down there and assess certain legal ramifications if the government fell down from Y2K. He came back sweating, folks. He moved many of his investments into commodities, and absolutely refuses to go on any planes around that time. (Me, too!) He still feels, from seeing first hand evidence, that many government-run infrastructure problems may result, and that, to avoid panic, or because it has its head in the sand, the government is putting too happy a spin on things.
Banks have been suing some ATM manufacturers for not getting on the ball, and you probably have noticed a great many brand new ATMs installed in your local bank branches: they had to buy new ones in many cases. Not all banks have done this. The FDIC says about 80% of banks are now compliant (as best as this can be assessed -- I mean, what the hell DOES compliant mean anyway, eh?). They've listed banks that are not compliant at their website http://www.fdic.gov . !!EDITED NOTE: I just went back there and they've posted a notice that no such list exists. This, after I saw an interview on TV with an FDIC person who said it DOES exist. Read the front article on the site for more info -- apologies. However -- I do stand by my 80% of banks (rather than 99.9% as said on the FDIC site) number as the one that was thrown around recently...!!
We had also studied other nations. One Far Eastern country, whose top ministers my attorney/partner met with (he does legal representation for their government on trade issues here in the US), asked him, "What's Y2K?" when he brought it up. This was at he end of 1997 -- they hadn't done anything yet or even known about it. By mid 1998 they had only begun to recognize a hint of a problem. They later asked for our help but we were too busy doing other things, like getting the hell out of that business! From the US standpoint, because many of the US's trade partners are non-compliant, a worldwide economic recession is likely, and that will have an enormous impact on the economy in the US, too.
I'm not trying to be an alarmist, but the reality is: nobody really knows what'll happen, folks. So we should always assume the worst in terms of preparations, etc.
Y2K is one month away from today. So the question:
Are you making Y2K preparations of any kind? If not, do you think you might start (especially after having read Ron and Karen's site)? What about your friends and extended family? If they are not prepared, do you have extra supplies to help out these loved-ones if the situation arises? If the heat shuts off, and you live in cold climates, are you ready to use alternative sources of heat? Many other issues.
Ron, Karen, and Greg: for those who haven't prepared at all, and now have changed their minds or just woken up, what are a few key things they can still do as an emergency last-minute prep strategy from now until then, with the consideration that some might not have great financial resources?
Best,
Brian.
[This message has been edited by Brian Jones (edited 01 December 1999).]
[This message has been edited by Brian Jones (edited 01 December 1999).]