You’re reading a story from Sidelines 100, a project showcasing a century of student storytelling at Middle Tennessee State University. Sidelines 100 plans to highlight 100 stories from the newspaper archives this fall and spring.
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The story has been updated for current basic AP style, but the wording in the story has not changed. Any ideas, perspectives or opinions do not necessarily reflect those of Sidelines.
The effect Y2K will have society will fall somewhere between economic meltdown and absolutely nothing, Lee Maier will explain in “Y2K,” the next installment of in the Honors Lecture series on Monday, Nov. 1.
“So much has changed since people first began talking about Y2K,” Maier said. “Many of the fears from the last two or three years have lessened tremendously. The government has allocated lots of resources to solve this potential problem.:
Maier will explain the evolution of the Y2K problem and lecture on what steps one should take in preparing for Y2K. He will also focus on how Y2K will affect Murfreesboro and the local community.
“Public services [such a hospitals and utilities] are very confident that they have taken the appropriate steps,” Maier stated. “However, those services interface with other areas and if those areas are not Y2K ready, then there could be problems.”
Maier says the highest risks for Y2K problems come from companies that have a global flavor.
“The risks for other companies to suffer a Y2K crash are significantly higher simply because they have not been able to devote the resources that the U.S. has,” Maier remarked.
Maier shares the ideas of Federal Reserve Chairman Alan Greenspan. Greenspan said recently that consumers should leave money in savings and checking accounts.
He said that there was almost no conceivable way that computers would break down and records of savings accounts would simply disappear. He also warned people of taking out extra money.
“Walking around with a lot of $100 bills is not the safest thing,” Greenspan said. “There’s going to be an awful lot of people who are going to be pretty interested in that.”
However, the Fed will stockpile an extra $200 billion in cash in case of a rush. Most experts now agree to prepare for Y2K as you would any one-to-two-week emergency situation, Maier explained.
“Y2K has already sprung a wealth of new business and has more tremendous positive possibilities,” Maier expressed. “Public confidence, among other things, will soar, if no major problems occur.”
Maier has worked on the MTSU staff since 1992. He received his doctoral degree in information systems from Auburn University. He has worked in a variety of information system jobs, including serving as a programmer and analyst for the Air Force.
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