A major U.S. airline in Texas was spotted this week taking delivery of back-up HVAC equipment for Y2K. The large free-standing backup units are to be used for heating a large aircraft maintenance facility. Very big equipment necessary to move them into position. And porta-potties delivered to maintenance facility. Equipment verified as part of the Y2K contingency plan.

[Please add your sightings when available]

-- just another gi reporter (gi.report@gi.report), October 24, 1999

Answers

gi reporter, I don't know if this qualifies as "sightings" or not, but I am reluctant to start a new thread with it. The short version is that I do hope everyone is monitoring all those inserts that arrive with their bills and bank statements these days.

A bank, a credit union, and their investment arms all had new and interesting statements in their mail to me in the past week. The most significant was the credit union's statement that: "In the interest of personal safety (but they didn't say whose personal safety) we may limit daily cash withdrawals." Huh? I've never seen them worry about personal safety before now! They went on to say that their cash supply will be dictated by the amount of Canadian currency made available by the Bank of Canada. "To ensure your needs are met, we ask that additional withdrawals for Canadian currency, related to Y2K, be made by December 8, 1999. Unfortunately, we cannot guarantee the availability of Canadian currency after December 8, 1999 and you may be asked to accept 'no cost' cash alternatives (i.e. travelers' cheques, money orders, drafts)."

I would think this should strike terror into the hearts of most customers who still have (thought they had) cash in their accounts.

This same credit union advertises: "Looking for a safe place to park your money through y2k? Invest in our 100% y2k guaranteed term deposits; we offer three millennium-proof term products...."

Another bank says it has recently implemented "an organization-wide freeze on all system changes...."

The credit union's investment arm says its portfolio managers "are viewing (just now?) the Year 2000 readiness of companies in which the Funds invest."

And the bank's investment arm goes on and on about how to re-set the date in your computer...one line even tells the reader to set the system's date at 11:58:00 p.m., 31/12/1999, then shut down, "wait for midnight"--I'm not kidding!--then turn on the machine to see what the date is.

Just in case all of this is not enough to give me confidence, this last publication gives me a few websites at which to do my own research. I think I'll check this one out:

www.communitech.org/whatsnew/Year2000.htm

Maybe I'll learn something!!

-- Rachel Gibson (rgibson@hotmail.com), October 24, 1999.

YIKES!

Rachel, I am also in Canada, and though I have not yet seen this anywhere in a bank leaflet, I think it is important enough that there be a new "ask a question" link started here to see what is going on. I do know that someone was posting from the USA that their bank was allowing only $100 cash withdrawals with an ATM card.

So is this the start?

Awfully decent of them to give us a "cutoff date"! We'll see if they stick to it.

BTW, did they explain how, with major banks around the world having spent TENS OF BILLIONS to TRY to ensure Y2K compliance, that your humble institution is able to offer a GUARANTEED Millennium GIC???? Have you phoned them to ask? HOW DID THEY DO IT?

Are you aware of the posts by Gray North on this very topic of banks trying to talk people into accepting cashier's checks, traveller's checks, etc. in place of cash? Those instruments are nothing more than a promise to pay you in cash money at some time in the future. BUT WHEN?

If they are saying already that well before DEC31, they reserve the right to cut off cash money, doesn't that tell you right there?

-- profit of doom (doom@helltopay.ca), October 24, 1999.

profit

It tells me the bank run has already started.

-- Rachel Gibson (rgibson@hotmail.com), October 24, 1999.

Imagine the lines on December 7th!

-- Ashton & Leska in Cascadia (allaha@earthlink.net), October 24, 1999.

I have been a member of a credit union in Leesburg, Fl. for the last 5 years. The daily limit on atm withdrawals has always been $400. Then, about 3 weeks ago, the limit became $300. This was without notification. Only found out because I tried to withdraw my usual $400 and was denied. The CU has just completed a merger with Bell- Tel, so don't know if this is a result of the merger or Y2K. They have also been having many, many computer and phone problems.

-- Rick (Rick@rick.com), October 25, 1999.

A & L

It astounded me to see them specify such an early date as being "end of cash" time. But my sense is now that they've done it, the date could easily be changed and moved forward again.

Rick

Thanks for the update. My CU was losing account data in April, in spite of its assurances since January that it is "ready." Saddens me, because the CU's have always been a comfortable alternative to the bank gouging in this country. But, they're smaller and, I suspect, have access to less cash than the banks.

Profit

I've decided to take your advice and start a thread labeled accordingly in an attempt to see if others are seeing similar trends.

Sorry, gi, for invading your thread topic.

-- Rachel Gibson (rgibson@hotmail.com), October 25, 1999.

A&L, nice date, it may live in infamy .....

-- BH (silentvoice@pobox.com), October 25, 1999.