Y2K inventor Found!
What has now become a worldwide problem known as the Y2K or "Millenium bug" originated back in 1962 at the Burroughs plant in Xenia Ohio.
Steven Schwartz, an engineer at the Burroughs computer development research unit in Xenia, won $100 and
was named "employee of the month" for his idea to store the year using two digits instead of four.
"By storing the year in two digits instead of four, my company was able to save $15,000 in memory costs the first year we implemented it", says Schwartz. He adds "during the 60's and 70's, the money saved was substantial".
Sadly for Schwartz, he never was able to benefit from
the millions that Burroughs made from licensing the "two digit year" technology.
Burroughs closed it's computer technology division in 1982 citing diminishing sales of Schwartz's two digit year invention.
Schwartz , who bought back the rights to his invention when Burroughs discontinued
its sales, now travels the world as a private consultant instructing small companies on how to implement his two digit year system.
"After all these years it's still quite profitable", Schwartz admits. But the workload is so huge "I'm booked solid through next year" he adds.
Reportedly, many US companies have contracted with Schwartz to re-institute a two digit year system as they
are disappointed with the productivity losses associated with the four digit year technology.