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  • nematode_speculator nematode_speculator Nov 21, 1999 1:22 AM Flag

    Uh Oh! AMZN Big Time Y2K Problems! Discloses Y2K Problems Big

    Recent SEC filings made by AMZN management admit, "Year
    2000 processing problem could have a material adverse
    operational or financial consequence to the

    The damning document goes on to declare that Amazon
    has no more than half the Y2K job completed at this
    late date! From page 23 of the SEC 10Q report: "Many
    aspects of this phased approach are not yet complete. In
    particular, our testing phase is only 50% complete and
    failure to complete testing of mission-critical systems
    could harm our business." AMZN's "phased" approach
    might be what others call "willy-nilly,"
    "catch-as-catch-can," "slap-dash," or most indelicately - "half-assed."
    Perhaps in the breakneck speed with which the warehouse
    expansion took place, critically important Y2K testing got
    short shrift from distracted management. The obiviously
    embarrassing document continues: "We cannot guarantee that we
    will be successful in our efforts to make our critical
    systems year 2000 compliant or that the year 2000 problem
    will not adversely affect our business." But it gets
    worse! Perhaps in a reference to those "ragtag" zShops
    proprietors putting the Amazon empire on the fritz, AMZN
    makes this startling admission: "We are limited in our
    efforts to address the year 2000 problem as it relates to
    third parties..." In their "all bets are off"
    conclusion, AMZN concedes, that their "plan," such as it is,
    is insufficient to guarantee that it "will prevent
    circumstances that may cause a material adverse effect on our
    operating results or financial condition." (Emphasis

    And where is Jeff Bezos and Joe Galli during all
    this. With the cowboy hat and power drills in New York?
    Chumming with Willow Bay on CNN?

    Prudent Amazon
    customers are forewarned and I believe that reason dictates
    that all transactions with Amazon should be avoided
    until after Y2K and then only when AMZN has
    demonstrated the 100% stability of its system.

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