Y2 K: Hold The Bubbly, For Now
Time to relax and make some plans for the last New Year's Eve of the millennium? If you listen to Federal Reserve Chairman Alan Greenspan and many government policymakers, there's not much left to worry about: The big bad Y2K bug that can hamstring computers not programmed to deal with the date change is not exactly eradicated, but the massive repair efforts to inoculate vital segments of the economy seem to be mostly on schedule. According to a recent CAP Gemini survey, 94% of U.S. companies will have most mission-critical systems Y2K-compliant by the time the ball drops in Times Square. Even the most famous millennium alarmist on Wall Street, Edward E. Yardeni, chief economist at Deutsche Bank Securities Inc., has trimmed his apocalyptic predictions.
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