Spin Control...It's all in the Planninggreenspun.com : LUSENET : TimeBomb 2000 (Y2000) : One Thread
How transparent can you get???
Y2K experts: Be candid, but careful, discussing status with the press By Thomas Hoffman
NEW YORK -- When the century date change occurs 46 days from now, organizations should be candid in articulating their status with the press.
But they should also make sure they have gotten to the root of any glitches that may occur on Jan. 1 and not automatically assume that those problems are year 2000-related, said experts at a conference here Friday.
"We [shouldn't try] to keep up with CNN. The first information [that's reported about a rumor] is usually wrong," said John Koskinen, chairman of the President's Council on the Year 2000 Conversion. His group, which will compile Y2K "health checks" on New Year's Day from financial services, retail and other industries, will "need to have two to three hours to evaluate problems and discuss them with industry experts" before posting information about the nature of those glitches on its Web site, Koskinen added. He was the keynote speaker at the Securities Industry Association's Year 2000 Transition conference.
If there are problems to report, said Koskinen, "we have an obligation to tell people about them and how they're being dealt with."
Several executives here emphasized the importance of permitting only media-approved spokespersons to field questions from the press on any Y2K-related questions that come up over the transition weekend. "A well-thought-out plan to communicate with the public and the media is essential," said Arthur L. Thomas, senior vice president of global operations at Merrill Lynch & Co. in Jersey City, N.J., and chairman of the Securities Industry Association's year 2000 steering committee. That approach should help to stamp out any wild rumors that may surface.
"Cooler heads prevail. If an issue occurs, don't assume it's a Y2K problem," said David Brooks, vice president of global operations services at Merrill Lynch & Co. in Jersey City, N.J.
Even if a major brokerage experiences Y2K-related transaction-processing problems on the first day of trading (Jan. 3), the Securities and Exchange Commission (SEC) "is not going to give out" company-specific information, said Sheila Slevin, assistant director of the SEC's division of market regulation.
Still, if publicly held companies do experience any problems during the first week of trading, major news organizations plan to expose those problems, whether or not they have been certified as Y2K-related glitches. For example, if a rumor surfaces about operational problems at a dot-com company, "our first action is to talk to the company and confirm it," said Stephen Jukes, editor of Reuters America in Washington. But if the rumor is "moving the market," says Jukes, "then we have [a responsibility] to report on that."
-- Roland (email@example.com), November 16, 1999
Ooh yes, at the rollover if ones factory and sewer plant goes schizophrenic only assume and consider the broken code to be at fault as a last resort.
Who are these incompetent idiots trying to fool?
-- Paula (firstname.lastname@example.org), November 16, 1999.
"Several executives here emphasized the importance of permitting only media-approved spokespersons to field questions from the press on any Y2K-related questions that come up over the transition weekend"
IN OTHER WORDS...
1. Spokespersons who have been trained in obfuscation.
2. Spokespersons who have been trained against sputtering at and tripping over hard line questions.
3. Spokespersons who have be drilled on the legal corporate party line.
Wouldn't want too much truth being disseminated, now would we?
-- OR (email@example.com), November 16, 1999.
"Even if a major brokerage experiences Y2K-related transaction-processing problems on the first day of trading (Jan. 3), the Securities and Exchange Commission (SEC) "is not going to give out" company-specific information, said Sheila Slevin, assistant director of the SEC's division of market regulation."
Concealing information about people's investments??
In other words, if a company that you have invested in is crashing big-time, you are not going to find out about it until the top execs have cashed out and declared bankruptcy.
I predict we are going to witness more lying in the first 2 weeks of January than all of history combined.
-- Hawk (firstname.lastname@example.org), November 16, 1999.
-- Jerry B (email@example.com), November 16, 1999.
They already are fooling everyone I know and almost everyone I don't know. People are not connecting the dots or reading between the lines.
Things are heating up, maybe if the dots keep multiplying they will be forced to GI, unfortunately by then it will be to late.
I have never felt so utterly helpless in my entire life.
Its like seeing the iceburg and not being able to slow down or turn fast enough to avoid hitting it. The call for abandon ship is reverberating through the industry, with CIO's, CEO's and Chairmen of the Boards jumping ship first, Women and Children and the Elderly last!
At least the Captain of the Titanic went down with his ship, most of our Captains have real wealth, they'll probably loose substantial amounts of "funny money" if the stock markets get hit, but if a severe recession or depression hits, the owners of true wealth are the only ones that will be o.k.
-- helplesstohelpDGI (firstname.lastname@example.org), November 16, 1999.
-- Roland (email@example.com), November 17, 1999.
Thanks for the post and the link.
-- Jerry B (firstname.lastname@example.org), November 17, 1999.