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• The FAA, Defense Department, and Health and Human Services will be ready by late Spring -early Summer.
• Power companies are already prepared. Very few systems actually related to generation and distribution of electricity were affected by Y2K.
• Banks are well-prepared. Banks are examined yearly by regulatory agencies on various topics. However, they are being examined quarterly on Y2K since spring 1998 and facing stiff fines and additional requirements if found to not be meeting guidelines.
• The New York Stock Exchange (NYSE) is spending about 820 million to make sure that their systems are Y2K compliant. NYSE, along with other exchanges, are regulating markets and firms to assure Y2K compliance.
• The Securities Exchange Commission (SEC) is requiring brokers/dealers to file periodic Year 2000 compliance reports and fining any who fail to do so.
• All industries are developing business resumption contingency plans, just in case they miss something.
Cloud pointed out that if even if some systems fail, life still goes on. “We’ve only been using technology for 10 or 20 years,” he said. He reminded everyone that it is entirely possible to live without power.
Cloud speaks from experience. He was in Charlotte when Hurricane Hugo came through in 1989, knocking out power for about two weeks. He had to shave with cold water and heat his food on a propane grill during that time.
Cloud presented five steps for business owners to use in dealing with the Y2K problem. The first step is awareness. If you have many employees, put together a group to address the problem. Then advise management, customers/clients, or anyone else that you think may need to know.
Second, identify all electronic, office, and computer equipment. Determine what equipment is mission critical and concentrate on making those systems Y2K compliant first. Then prioritize the rest of the systems to determine the order in which you would bring them into compliance. Also, make sure your business insurance covers you for possible year 2000 problems.
The third step is to make sure that your equipment is compliant. You can request letters of compliance from your vendors/suppliers. They will tell you one of three things: 1) it’s compliant; 2) you need to upgrade the equipment; or 3) you need to replace it alltogether. You should then act on what the vendor tells you.
Fourth, test the equipment. Once you have replaced/upgraded the equipment or been assured of compliance, you should test it. If any system “fails”, you should have a contingency plan. You can usually get testing scripts from vendors/suppliers.
Finally, you should have a contingency/backup plan in the event that any systems have a problem. Cloud suggest that this be done by June 30. This date is a target for everyone to have mission critical and other key systems tested.
Some things that everybody should be doing are making sure that systems in the home are compliant, and making sure you have copies of bank statements, financial records, and other documentation. You should also take out normal cash amounts for the weekend of Dec. 31-Jan. 1 just like any other weekend.
Cloud also gave the audience some other dates to be aware of. Sept. 9 is a date of concern because years ago programmers used a series of nines to denote the end of a program, which could shut down 'some systems on that date. And of course, you need to be aware of Dec. 31, 1999. Cloud reminded everyone that this is a “fixed” deadline to have any
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