Corporate business is spending vast amounts of money to tackle the Y2K problem. To try to get a handle on the magnitude of these Y2K expenditures, we have reviewed the most recent 10-K reports filed with the SEC by approximately 95 percent of the firms in the Fortune 500.
These are the largest businesses in our economy, with revenues of around $ trillion annually, and are likely to be on the cutting edge of efforts to deal with the millennium bug. Before the end of the decade, these firms report that they expect to spend about $ billion in dealing with the Y2K problem.