Some big British companies stockpiling and identifying alternate suppliersgreenspun.com : LUSENET : TimeBomb 2000 (Y2000) : One Thread
-- Linkmeister (email@example.com), October 18, 1999
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FOCUS-UK companies see silver lining to Y2K cloud
08:28 a.m. Oct 18, 1999 Eastern
By Richard Meares
LONDON, Oct 18 (Reuters) - Big British companies are already suffering millennium-bug glitches but most hope for profit along with any pain from the phenomenon, a survey showed on Monday.
Campaigning group Taskforce 2000 said that out of 200 top UK companies who took part, 31 percent had already faced troubles because some old computer chips read the year 2000 as 1900.
The companies gave no details but such known problems have been with processes like financial transactions, forward orders, budgeting and accounting.
Taskforce 2000 said its quarterly surveys, this one done with disaster recovery company Adam Associates, recorded growing concern among big companies and said inadequate and upbeat government reports were adding to complacency.
``We are all in the dark and it is time that the government made full information available,'' said Robin Guenier, executive director of the privately funded Taskforce.
The group says the government withdrew its original funding because it did not like the gloomy tone of reports it published.
Adam Associates Chief Executive Richard Pursey said many companies saw a positive commercial outcome to the ``Y2K'' bug, however, believing they were better prepared than their peers.
``Nearly 60 percent recognise that they will gain competitive advantage. A third expect their competitors will be wounded by the millennium bug,'' he told a news conference.
``This could lead to an increase in mergers and acquisitions if share prices are devalued as a result of failure.''
More than four fifths of companies in Britain -- which says it is better prepared for the bug's effects than many other developed countries -- are making a priority of contingency plans against power and telecomms failures.
Just under half were stockpiling essential supplies and identifying alternative premises they could use. More than two thirds have earmarked alternative suppliers.
Guenier said that if anyone told individuals to follow business's lead and plan against infrastructure or financial services failures or stockpile essential supplies, ``that person would be categorised a dangerous alarmist.''
Many companies expected bug-related troubles to last well into 2000, or even beyond.
Copyright 1999 Reuters Limited. All rights reserved.
-- Linkmeister (firstname.lastname@example.org), October 18, 1999.
And "some" British Companies are urging employees to stock up...
for three months.
sad but true.
-- Tom McDowell (email@example.com), October 19, 1999.