Seminar ``Empowers'' Building Owners, Brokers About Y2K Compliance : LUSENET : TimeBomb 2000 (Y2000) : One Thread

This is under "Legal issues" in the archive, good a place as any. <:)=

LOS ANGELES--(BUSINESS WIRE)--Sept. 16, 1999--With many commercial building owners in the Los Angeles area "mistakenly assuming" that the Y2K issue does not affect them, and the legal exposure that commercial brokers may face surrounding this issue, the American Industrial Real Estate Association presents a seminar Wednesday, Sept. 22, at the Los Angeles Marriott Downtown Hotel designed to help empower them about Y2K.

Headlining the dinner event, beginning at 5 p.m., is Larry Roberts, Ph.D., principal of Millennium Solutions Inc. of Los Angeles, a specialist on Y2K compliance.

Roberts' firm has been performing Y2K remediation for the past three years. He has developed and implemented Y2K programs for management companies and cities as well as Saudi Arabia's telephone company. He has also taught Y2K issues to the San Diego, Orange County and Ventura bar associations.

"Many building owners have the mistaken belief that Y2K does not affect them. It does! Brokers, meanwhile, need to protect themselves from lawsuits by ensuring that transactions they are involved in are Y2K-compliant. This seminar will provide the knowledge to empower the broker," Roberts said.

Among topics to be discussed at the seminar are:

The obligations of brokers to disclose the risk a buyer assumes when purchasing a commercial property. Most properties are reportedly not receiving professional remediation and may be extremely vulnerable to Y2K lawsuits.

Commercial properties have numerous Y2K issues, including personal safety.

Y2K methodology and contingency planning as the only insurance against Y2K lawsuits.

For information about AIR's Y2K seminar, call 213/687-8777. Cost is $35 by mail; $40 at the door.

The largest organization of its kind in Southern California, AIR is a nonprofit corporation formed in 1960 for the purpose of fostering knowledge, integrity and efficiency in the field of industrial and commercial real estate brokerage. More than 1,000 real estate professionals in more than 270 firms located in the eight-county Southern California area actively participate in AIR.

Among its many programs and services, AIR provides specialized standard industrial/commercial lease forms and purchase-order forms for industrial and office real estate, and The MULTIPLE Listing Service, considered the ultimate source for offering complete facilities for cooperative marketing of industrial and office properties. AIR has headquarters in downtown Los Angeles.

--30--DB/la SJK/la

CONTACT: Ansoorian and Associates, Van Nuys, Calif.

Art Ansoorian, 818/881-1183

-- Sysman (, September 16, 1999

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