STORY:
Full U.S. Senate Y2K Report

The Senate Special Committee on the Year 2000 Technology Problem -- and whom The Economist called "the scourge of the unprepared" - unveiled a 160-page report outlining the state of American readiness against a threat of Y2K related failures

The report is the culmination of hearing testimony, survey data and government reporting on the Y2K problem. In 11 hearings since April 1998, the committee explored banking, telecommunications, government, health care, business, utilities, agriculture and transportation.

Citing a low level of awareness among doctors and a lack of planning by hospitals, the report singles out health care as the worst-prepared industry for the Y2K glitch, a dating flaw in computer software and hardware that threatens the supply chain of pharmaceuticals and may cause vital diagnostic equipment to malfunction. The report also cites poor preparedness by HCFA, the government agency that administers Medicare.

Also cited by the report were concerns about a lack of readiness among the U.S.' leading trade partners. The most recent data indicate Japan, Mexico, China, Germany and Taiwan are currently 9 months to 2 years behind schedule in preparing for the year 2000. Major oil exporters to the U.S. such as Venezuela, Saudi Arabia are 12-18 months behind schedule.

The release of the committee report followed a hearing of the Special Committee that explored Y2K readiness in the food processing and retailing industries. The Senate also voted to pass S. 314, a bill to allow Small Business Administration Loan guarantees for businesses seeking resources for Y2K compliance. In addition, Senators participated in a closed briefing by Sen. Bennett and Dodd on Y2K concerns pertaining to national security and international affairs.

Source: U.S. Senate (Download requires Adobe Acrobat)

DATE: 3/08/99

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