The Y2K problem
stems from the practice in the computer industry of representing years by their last two digits, as in "99" for 1999, which could cause computers to misread the year 2000 as "1900" and lead to potential computer failures.
Yaron explained that his solution for the Y2K problem
compresses four digits for the years 2000 and the years following into two symbols.
"We've searched our safety systems and found no Y2K problems
," says Kelly Gilligan, a spokeswoman for Connecticut's Northeast Utilities (NU), which operates three nuclear power plants."We mostly use [non-digital] analog systems, and those aren't susceptible to Y2K failures." In July, NU reported to the Nuclear Regulatory Commission that all "mission-critical" systems were Year 2000 ready.
government statistics for the past few years suggest that many organizations, especially small businesses, are unprepared for dealing with the date change, and none anticipate deriving any business benefits from the Y2K problem
. An audit by NetCensus, a consulting firm, found that 80% of one large organization's PCs would be unable to cope with the Y2K date change.
Documentation of the steps you've taken to mitigate potential Y2K problems
can help serve as a "due care" defense to negligence in a personal injury, malpractice, or other action brought against you.
It is now a generally accepted reality that the Y2K problem
is pervasive and complex.
The Y2K problem
has particular relevance for loan servicers because they act as intermediaries among lending institutions, borrowers and investors.
There are in fact several major Y2K problem
classes involving: two-digit years, embedded dates, embedded logic, embedded systems, leap-year calculations, register rollovers, and millennium viruses.
However, 59 percent were "somewhat/very concerned" about the Y2K problem
, and, 59 percent also believed that "equipment with computers will fail." These concerns reveal why dozens of books and hundreds of articles have been written and why so many people are working feverishly to solve this turn-of-the-century problem called the millennium bug.
In February this year, the Gartner Group, a survey research company, reported that the healthcare industry was lagging behind others in dealing with the Y2K problem
. The healthcare industry won't experience "catastrophic failures," according to Joel Ackerman, Executive Director of the Rx2000 Solutions Institute (www.rx2000.org), an independent, nonprofit organization in Minnesota dedicated to assisting the healthcare industry resolve Y2K problem
However, delays in scheduling a repair mission combined with a looming Y2K problem
, could turn a brief break into a lengthy interlude.
When the year 2000 finally hits, the Y2K problem
may thankfully prove to be a minor event, according to a recent attitude survey conducted by the Information Technology Association of America (ITAA).
The Y2K problem
is no bigger an issue than these and it can be managed by carrying out a well-defined action plan.
Interestingly, there was little change in the respondents' estimation of the extent of the Y2K problem
, the areas that would be affected, and the cost of any Y2K problems
to respective companies.
How can they know for a fact that the $600 billion this country alone has spent "fixing" the Y2K problem
(that's more than we spent on the entire Viet Nam war, and the second most expensive project in U.