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Y2K Report In the 1970s and 1980s programmers wrote software that represented years with only two digits rather than four It was done to conserve memory Unfortunately these programs interpret the year 2000 as 1900 There is no silver bullet to solve this problem in time for the year 2000 There has been a growing concern in Washington and the Securities and Exchange Commission is urging companies to report the effects of the year 2000 on its earnings The Y2k bug is expected to have a negative effect on the US Economy starting almost immediately Instead of creating new productivity enhancing program every company that uses computers will be diverting money and skilled workers toward fixing the problem Another problem is that companies got a late start on addressing the problem Two out of three large companies did not have detailed plans to address the year 2000 bug Some analysts worry that Y2K could send the economy into a recession The Internal Revenue Service IRS is also struggling to become Y2K compliant They worry that their computer system will experience severe disruptions in the year 2000 halting the delivery of refund and reimbursement checks As a result of Y2K the gross world product GWP will also be affected Many people feel that Y2K could make Wall Street a very unstable place One thing is for sure Y2K cannot be avoided ready or not here it comes A lot of people just assume that there is a silver bullet that will wipe out this problem Its not as easy as that It seems that in most mainframe programs the date appears about once every fifty lines of code Finding and repairing all of this code will take an enormous effort- even with automated software tools According to Jeff Jinnett a year 2000 expert in his testimony before Congress There is no technological silver bullet technologies may be developed to automate and speed up corrective
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