Our company spend $20 million on a brand new inventory system that was supposed to save us from Y2K. It took longer than expected and, by the time it was rolled out, Y2K had come and gone without any repercusions. The new inventory system was a disaster and, recently, it was scrapped. I wonder just how big the bonuses were for the people who wasted all that money on a system that never worked?
Another Y2K boondoggle was that our company spent a few million on a backup generator. There are lots of gas wells in NE Ohio and our company was hoping that our plant was located on top of one. So they built the generator which, by the way, didn't have the capacity to actually power our entire building. The drilled for gas and found that we did indeed have a natural gas supply. Only it was a low grade supply that wouldn't be sufficient to power the generator. The generator that only had the capacity to power one third of the needs of our building. The generator project also ran late and wasn't done until well after Y2K occurred.
I wonder just how much money businesses around the world wasted preparing for the doom and gloom of Y2K?