Large Meat Packing Plant's SEC filinggreenspun.com : LUSENET : TimeBomb 2000 (Y2000) : One Thread
Just thought I would check on a food industry's y2k status that was filed with the SEC (10Q) form. Here is a big one, FARMLAND INDUSTRIES INC, $336,000,000 in gross earnings. Zip down to their year 2000 section. The SEC requests all companies to give their most reasonable "likely worst case scenario". Most companies that I have read make an attempt at this usually on a watered down, positive way. This meat packing company didn't even try.
Farmland does not know all of the consequences of its most reasonably likely worst case Year 2000 scenario. We cannot address the virtually unlimited number of differing circumstances relating to what might be its most reasonably likely worst case.
and with reguards to outside vendors:
Farmland has distributed a survey to its significant customers and vendors to determine their state of Year 2000 readiness. However, responses to the survey questionnaire have not provided a basis to conclude whether such customers and vendors are Year 2000 compliant. Further, Farmland has not conducted and does not plan to conduct tests designed to confirm compatibility of its information systems as modified for Year 2000 issues with those of its significant customers and vendors. We will rely on the integrity of its vendors and customers to resolve their Year 2000 issues.
Such brutal honesty and trust in vendors from a major meat source.
-- James Chancellor, PE (email@example.com), November 12, 1999
Brings new meaning to "Where's the BEEF".
-- Stacia (ClassyCwgl@aol.com), November 12, 1999.
Hurrah for honesty. It is hard to come by these days.
-- C Deitchman (firstname.lastname@example.org), November 12, 1999.
"We will rely on the integrity of its vendors and customers to resolve their Year 2000 issues."
They may be honest, but they are also naive. Let's hope they can do without ALL of their vendors being compliant, because the odds are that they are going to be disappointed in the integrity of at least some of them.
-- Nabi (email@example.com), November 12, 1999.
Good catch! They are implimenting SAP also, and seemed to have alot of work left to do.
This seems to be exactly what Dale Way is talking about, parts done but with it work as a whole?
FARMLAND INDUSTRIES INC
-- Brian (firstname.lastname@example.org), November 12, 1999.
In context of Y2K this sounds bad, but these SEC filings are supposed to put worst-case-scenario warnings; they always sound alarming.
-- Dave (email@example.com), November 13, 1999.
Wow...... sad to say though, I'm not sure if this approach isn't better than the lawyer-worded "nothings" from the others guys.....because this (also) is true.
Because, IF everybody, everywhere has fixed everything - there would be no y2k problems. Each company, can at best, only be responsible for its own software and products.....those fail to take action, will be expected to themselves fail to remain in business.
-- Robert A. Cook, PE (Marietta, GA) (firstname.lastname@example.org), November 13, 1999.