Where Do We Go From Here

ABI's first <i>Journal</i> of the year 2000 is an appropriate place to reflect on where we've come and to look at where
technology and bankruptcy are going in the foreseeable future. (This, of course, can be done without debating
whether this is the last year of the current, or first year of the new, millennium.)<small>^{<a href="#1" name="1a">1</a>}</small>

</p><p>The technological advances of the '90s have been nothing short of awe-inspiring. For example, this article was
composed on my third notebook. (They seem to have a "useful life" of around three years.) It is more than three
times faster, has a hard drive almost four times larger and has a screen that is somewhat larger, yet weighs three
pounds less than its predecessor. I personally installed more RAM in this computer than the hard drive storage
capacity of my very first computer of the decade. Astonishingly, this notebook computer cost only half as much as
its two predecessors. The experts predict these performance increases and cost decreases will continue into the
foreseeable future.

</p><p>Now that the holidays have passed, do you remember hearing more about "e-tailing" than "retailing" this
season? As a dedicated surfer, I must confess to using the Internet instead of fighting the mall traffic for more than
just a few gifts. (Even the notebook computer I mentioned was purchased online, without ever seeing one in the
store.) Billions of dollars of "e-commerce" occurred during the holiday season. This included some notable
shortcomings, like toys not arriving on time (some not at all), merchants passing out gift certificates to disgruntled
customers and a host of customer service and distribution system nightmares. True cyber-freaks will know that the
largest single purchase over the Internet occurred this past year, when a "dot.com" millionaire spent millions on a
brand new Gulfstream V private jet he bought over the Internet.<small>^{<a href="#2" name="2a">2</a>}</small>

</p><p>This brings on the question of, "Where do we go from here?" Will the "dot.com" economy survive, flourish or
go the way of the drive-in movie? What will computers look like and do for us in the next decade? How will ABI
World adapt to even more technological changes? No one really knows for sure. We can only be certain that the only
constant is change.

</p><p>On the horizon, computers operating at 1GHz (gigahertz) are coming. These machines were the tightly controlled
"supercomputers" of the '80s and were dedicated almost exclusively to research and military tasks. Soon, teenagers
will use them every day to play animated games, surf the net and hack into those same research and military
computers. "Broad-band" services will provide television, movies, information and the Internet routinely through
the cable lines into our homes (or over the wireless networks being developed). The larger and faster machines will
complement the Internet's ever-growing volume of content and file sizes. The availability, and even commonality,
of 10-gigabyte and larger hard drives goes hand in hand with the growing content.

</p><p>Ordinary folks, instead of just the technophiles, will have wireless access to the Internet through their portable
phones or personal digital assistants (PDAs). A friend on a business trip recently entertained our group with both
his Palm VII and his global position system (GPS) receiver by checking the weather forecast and showing our exact
position as we sped down the freeway in a taxi (grateful that he was not trying to drive at the same time). While
this may be the current extreme, what does the future hold for the rest of us?

</p><p>Bankruptcy and the Internet will definitely be together well into the future. Dot.coms with stock values but no
earnings (sometimes, without any significant assets) cannot continue indefinitely. E-tailers who could not satisfy
their customers last year will probably not make it back this year. Surely the bankruptcy system will begin seeing
these companies soon.

</p><p>On more mundane tasks, electronically filing pleadings will surely expand beyond its current pilot projects.
Courtrooms and creditors' meetings that are currently connected through dedicated video links might become
available on the Internet (after the appropriate safeguards are devised). Video conferencing may replace some
meetings and travel.

</p><p>Many attorneys working together on the same case regularly exchange drafts of documents and pleadings via
e-mail. Court reporters send deposition transcripts via e-mail. Surely, amendments to various rules allowing service
of pleadings and documents by e-mail cannot be far behind. (Requiring e-mail service is probably a few more years
away.)

</p><p>Assets of debtors in bankruptcy will be sold over the Internet. One advertiser on ABI World already conducts
auctions of distressed assets online.<small>^{<a href="#3" name="3a">3</a>}</small> This spring, ABI and the National Association of Bankruptcy Trustees will
launch a web site listing assets for sale by members of either organization. The site (<b>www.bankruptcysales.com</b&gt;)
will list assets for sale by bankruptcy trustees and debtors-in-possession nationwide. It will include features
allowing interested purchasers to track specific types of assets (by type or geographic area) as well as allowing
sellers to link the listing to sites with photos and other due diligence materials. Free listings will be yet another
ABI member benefit.

</p><p>The new year brings changes for ABI as well. ABI World will continue implementing
improvements throughout the year. One project on the immediate horizon is an expanded international bankruptcy
law section being spearheaded by the International Committee. Look for improvements on the Business and
Personal Bankruptcy Discussion Boards and more "Cracking the Code" newsletter articles by ABI's newly
invigorated Web Editorial Board.

</p><p>While no one can truly predict everything the future has in store for the Internet's relationship with bankruptcy
and ABI, we do know that it will include changes and improvements to keep you and ABI on the leading edge of
technology.

</p><hr>
<h3>Footnotes</h3>

<p><small>^{<a name="1">1</a>}</small> Personally, the millennium moniker appears to be a marketing issue. I expect that those who were arguing that we have entered the new millennium will spend this year hyping 2001 just as vigorously. <a href="#1a">Return to article</a>

</p><p><small>^{<a name="2">2</a>}</small> Gulfstream's Dec. 20, 1999 press release announced that all of the marketing occurred either over its web site or by e-mail. Only the "demonstration flight" of the jet (retail price of more than $40 million) included face-to-face discussions with a sales executive. <a href="#2a">Return to article</a>

</p><p><small>^{<a name="3">3</a>}</small> <a href="http://www.bid4assets.com&quot; target="window2">bid4assets.com</a> hosts online auctions of various assets, including assets of debtors in bankruptcy cases. <a href="#3a">Return to article</a>