April 19, 1999
Cover

DO STOCK UP, DO NOT STOCKPILE

BY WARREN CARAGATA

Treat preparations for Y2K as if it were a heavy-duty snowstorm. That's the advice of experts and emergency response officials. "Individuals should prepare for limited-duration localized failures rather than an apocalypse," says the GartnerGroup, a large U.S.-based technology consulting firm.

WHAT TO AVOID:

* Hoarding: The experts advise against buying many weeks' worth of food and water and taking out large amounts of cash. Stocking up with several months' worth of medical prescriptions is not required because most Y2K computer failures in Canada and the United States are expected to be minor. Hoarding would create problems ranging from shortages to the risk of crime if people keep a lot of cash at home.

WHAT TO DO:

* Canadians should keep a few days supply of water and ready-to-eat food in preparation for any emergency, not just Y2K. Doug Harrison, deputy director of Emergency Measures Ontario, suggests having enough provisions for three to four days. "That," he says, "would be prudent." A basic emergency kit should contain flashlights and a battery-operated radio.

* Gas and oil tanks: Make sure they are topped up before New Year's.

* Generators: Electrical utilities say there is no need for the gasoline-operated equipment, which can be wired into a home's electrical system or used to provide power. "I don't know of anybody in the [electrical] industry who's buying a generator," says Bill Imms of the year 2000 project office at Ontario Power Generation (part of the former Ontario Hydro).

* Money: Canadian banks will function as usual, officials insist. Still, Y2K experts are split over whether Canadians should take out some extra cash before New Year's. Some suggest two weeks' salary, others say no additional withdrawals are necessary.

* Investments: Some experts recommend making sure investments do not include companies or countries with large Y2K risks. Cashing right out of the stock market because of Y2K is not recommended.

* After New Year's: Check statements to make sure payments have been recorded and interest has been assessed correctly.