CFO Survey: "Bring On Y2K - We're Ready".

From FEI/Duke University

A new poll of 272 companies across industries shows few feel unprepared for the Year 2000. In fact, 63 percent expect it to be a non-event. At the same time, some 14 percent predict a market-wide sell-off, including nearly one-half of CFOs in the mining and construction industries. The results are from the latest FEI/Duke University Corporate Outlook Survey, conducted the week of Sept. 13.

'There's still some trepidation about Y2K, as 6 percent of CFOs expect their firm will be subject to lawsuits as a result of problems that occur when the calendar changes," says Duke University finance professor John Graham, director of the survey. "And 13 percent of banking and finance firms anticipate lawsuits."

Overall, however, confidence is high. Notes FEI President and CEO Phil Livingston, "While much has been written about potential calamity, only 2 percent of the respondents expect Year 2000 to interfere with their ability to provide products and services. And only 3 percent think their companies' suppliers will have difficulties resulting from Y2K."

Other findings

* Four out of five firms dedicated from 1 percent to 5 percent of 1999...