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PUBLISHER'S LETTER
Publisher & Editor-in-Chief
Leo Simpson, B.Bus., FAICD
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2 Silicon Chip
The millennium
bug – a lot of fuss
over nothing
How many articles have you seen
in the press over recent months about
the “Millennium Bug”? Bit of a worry,
isn’t it? Supposedly, if you believe the
most lurid of the stories, when the
time and date clocks over on January
1st, 2000, there will be all sorts of dire
consequences: computers will crash,
pensioners and other social welfare
recipients won’t get their cheques,
planes will fall out of the sky, trains will come to a halt, banks will close
their doors because they won’t be able to take transactions and so on . . .
Well, to my mind it’s a lot of piffle. Sure there is some old Cobol-based
accountancy and other software which does present a problem because of
the requirement for a 2-digit year date. Some credit cards which were issued
with a 2001 expiry date have had to be recalled and reissued with a 1999
expiry date. And some computers with older BIOS do present a problem
but by now they’re getting on for ten years or more so they are pretty well
obsolete.
The truth is that the vast majority of large organisations have had to face
this problem years ago. For example, banks, finance and insurance companies have long been dealing with repayment and premium schedules which
stretch well into the next century. How could banks have granted 10, 15,
20 or 25-year loan terms if they hadn’t done all their projections? Just walk
into your local bank and see if they can’t give you a repayment schedule for
the whole term of your mortgage. You can bet they can.
Even large government bureaucracies such as the Taxation Office can be
expected to have done all their homework years ago so don’t worry about
them not being able to send out assessments in the year 2000 and beyond.
Nor should you bank on the police department not being able to send out
fines or security firms not being able to monitor premises with the advent
of the millennium. Things will continue as normal.
Nor can I imagine a scenario whereby airline or train scheduling or
other crucial systems come to complete stop because of the date. Yes, some
systems might fall over but wholesale chaos does not seem likely.
A more realistic assessment is that if a company or organisation is using a
computer system and software which is more than ten years old, then there
might be a problem. But it is fairly easy to simulate this. All that you have
to do is to change the date, reboot the computer system and run the suspect
software. If it does not fall over, then you don’t have a problem.
Or am I missing something more insidious here? I don’t think so. I think
that some companies stand to make quite a lot of money from consultancy
work and seminars on the so-called “millennium bug”. Good luck to them.
But let’s hope that they don’t get rich at the expense of you, me and other
taxpayers.
Leo Simpson
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