More Y2K Glitches That Could Bug You

Here are a few ways to protect yourself from the millennium sting-even if you're not a techie

two years. It began with the currency
devaluation in Thailand and quickly spread through Asia and later impacted other parts of the world. The economies of Japan, Russia, Africa and South America are still struggling. Some of these areas are also behind in dealing with Y2K issues. Any problems that occur in the new millennium will only exacerbate existing challenges.

  • Decreases in demand for purchases. Since many firms are acquiring excess materials as a way to combat projected Y2K problems, there may be reduced demand for supplies until later in the year. That in itself could cause a “classic, economic stockpiling recession.”
  • Decreases in earnings. Most firms depend on outside vendors or suppliers for essential goods, and this could be problematic next year. According to Webster, companies that are Y2K compliant could still experience production disruptions if their suppliers or vendors fall short. This could impact profit margins.
  • Outdated technology. Many corporations, both small and large, will not make the Y2K deadline and their software programs may become outdated come January 1. Even a modest number of Y2K problems may be enough to push some of these firms over the edge.
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