Good morning and welcome to our witnesses.
We are here to examine the enormous potential liability companies face as a result of the year 2000 computer problem. Industries are already facing substantial costs associated with fixing their computer systems to be year-2000 compliant. Will the looming date change bring severe financial consequences as a result of litigation? What can Congress do to ensure a smooth transition?
Another area of importance is the issue of investor disclosures. When considering a potential investment, Should investors be aware of the costs that will be Incurred by these companies? What role should the SEC play in forcing disclosure?
I look forward to hearing from our witnesses.
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