Magazine article Risk Management

Year 200 Update on the Eve

Magazine article Risk Management

Year 200 Update on the Eve

Article excerpt

In less than a month many questions and concerns about the year 2000 roblem will be answered. So on the eve, what are executives in the United States thinking? According to a survey by the Financial Executives Institute/Duke University, the CFOs of the nation are fairly confident that the New Year will be no big deal.

Only 3 percent of those surveyed say year 2000 events will interfere with their company's ability to provide products or services. Similarly; few foresee vendors having problems with deliveries. And 64 percent predict that year 2000 problems will not reduce earnings. Of those who see otherwise, most believe that earnings reduction will not outlast the first quarter. Respondents were also optimistic about liability defenses, with only 6 percent predicting year 2000-related lawsuits. That number more than doubles, however, in banking and financing. More than half of those individuals, as well as their counterparts in the mining, construction, communication, media and high tech fields disagree with those who say the year 2000 is a non-event. …

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