Analysts are not doing their homework

Article Abstract:

Some of Australia's financial services analysts--stock brokers, stock analysts, and funds managers--have little or no knowledge of the Year 2000 readiness of the companies in which they invest. Their lack of planning and casual attitude amazes Australian Stock Exchange Ltd (ASX) chairman Maurice Newman, who would not be surprised if investors sued brokers and analysts investing in companies that might have Year 2000 compliance problems. Year 2000 exposure is rarely mentioned in the reports of brokers and fund managers.

Australia, Securities Dealers, Investment Banking and Securities Dealing, Financial Services, Finance and Insurance, Security brokers and dealers, Planning, Economic aspects, Financial services industry, Securities industry, Beliefs, opinions and attitudes, Financial analysts

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Year 2000: the clock is ticking

Article Abstract:

Australian Stock Exchange Chmn Maurice Newman believes the Australian economy will go into a recession in 2000 if the year 2000 computer problem is not resolved. The entire world could dive into a recession if more companies do not make their computers compliant with the change. There are some business leaders that do not believe there will be a major impact on world economies if the computer compliant issue is not resolved.

Cover Story

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The chips are down

Article Abstract:

Australian Stock Exchange Chmn Maurice Newman is concerned that a worldwide recession will take place if enough companies around the world have not dealt with the year 2000 computer problem. Some manufacturers do not realize their equipment has embedded chips that may fail and some small and large businesses are not taking the issue seriously. European and Asian corporations have not done much to alleviate this problem.

Column

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