Simply put, Y2K stands for Year 2000 and in its context refers to the problem incurred by some computers reading the date as 00 for 2000. When a computer reads a date such as 10/27/97 it reads it as October 27, 1997. When computers and computer chips read 1/1/00 the non-compliant computer reads it as January 1, 1900. This can effect items from a VCR to a communications satellite, from credit card terminals to a minute but vital chip of an oil rig in the middle of the ocean.

If you now imagine all the companies and products dependent on computers and with countless lines of reprogramming (that is when they even realize what needs reprogramming) you can see why there is such a sense of urgency among the people in the know.

There are many resources more geared and equipped to explain the technical side of the Y2K problem in greater detail. We encourage you to get well educated and without panicking, take the proper precautions for you and those close to you for the uncharted days ahead.