Computers May Face Bigger Threat From Viruses Than From Y2K
The good news this weekend was that there was no news -- at least as far as the dreaded Y2K bug was concerned.
Financial markets around the world geared up for trading Sunday without any major glitches. For more on the markets' readiness,
TheStreet.com
has the complete
story.
So far, it seems, the year 2000 changeover has had about as much effect on the world's economy as an odometer's turnover has on the performance of a car.
But before you breathe a sigh of relief,
Computer Associates International
is sounding the alarm on some very real and very destructive viruses on the horizon. One such program, called Feliz.Trojan, will delete certain key system files before wishing you a happy New Year. Pass the champagne.
For months, gun enthusiasts have been buying up firearms in anticipation of class-action lawsuits against the industry. Now, U.K. conglomerate
Tomkins
(TKS)
is looking for someone to buy its handgun unit
Smith & Wesson
, the
TheStreet Recommends
Financial Mail on Sunday
reports. Sources told the newspaper a sale could fetch up to $161 million.
Rolls-Royce
is looking at a merger with aero-engine rival
Pratt & Whitney
, a unit of
United Technologies
(UTX) - Get n.a. Report
, London's
Sunday Business
reports.
NM Rothschild
and
Goldman Sachs
pitched the idea to the luxury automaker, the newspaper said.
Elsewhere in England, France's
Thomson-CSF
(TCSFY)
could launch a takeover bid for the U.K.'s
Racal Electronics
(RCALY)
as early as this week, the
Sunday Times
reports. The newspaper said Britain's
Ministry of Defense
has OK'd the proposed deal.
There were too many exciting Bowl games on New Year's Day to describe in great detail here, but one performance deserves mention.
Georgia
overcame a 25-point deficit to beat
Purdue
28-25 in overtime in the
Outback Bowl
.
In the Papers
Barron's
toasts the New Year with an upbeat forecast for 2000. A panel of experts predicts another strong year for the
Dow
, though none dared to predict it would finish the year above 13,000.
Also in
Barron's
is a feature on a lawsuit against
Foamex
undefined
Chairman Marshall Cogan. A group of creditors and shareholders are accusing Cogan of using Foamex to finance a luxurious lifestyle.
The Sunday edition of
The New York Times
features a closer look at broker/entrepreneur Mohammad Ali Khan, who stands accused of defrauding millions of dollars from a list of famous (and infamous) clients, including the
Gambino
crime family.
David Rheingold is a New York-based freelance writer. At the time of publication he held no positions in any of the stocks mentioned, although holdings can change at any time.
