BUSINESS

New worry: Feb. 29 leap-day glitch The year 2000 arrived with fewof the feared computer disruptions, but don't relax completely. Feb.29 could pose the next problem date. The extra day at the end ofFebruary seems normal; they happen every four years, after all. Butthis one is unusual - and whether computers recognize it depends onhow thoroughly their calendars were programmed. Rich Weirich, thePostal Service's vice president for information technology, explainedthat some computers may not expect a leap day this year, and thusskip ahead to March 1. Because the actual year is slightly longerthan 365 days, an extra "leap" day is added every fourth year. Butthat still doesn't make things come out quite even over time, so leapdays are skipped in years ending in 00. However, if the year endingin 00 can be divided evenly by 400 it still is a leap year. Thus 1600was a leap year and 2000 is too. Japan investigates reactor's clockfailure A New Year's Day glitch at a Japanese nuclear reactor wascaused by a failed clock on a monitoring system, which showedSaturday's date as Feb. 6, 2036. Shigehiro Ito said Tokyo ElectricPower was still investigating whether the trouble at its reactor inthe state of Fukushima, 150 miles northeast of Tokyo, was caused bythe Y2K computer bug. Banks return emergency money to Fed Some of thebillions of extra dollars distributed to banks to alleviate any Y2Kpanic were shipped back in armored trucks Monday to the FederalReserve. Economists said the temporary displacement should have nosignificant impact on the economy. "It appears to be money going backhome," said David Wyss, chief financial economist at Standard andPoor's DRI in Lexington, Mass. The Federal Reserve distributed some$80 billion to banks. PeopleSoft purchases Vantive PeopleSoft Inc.,the No. 2 business-management software maker, completed itsacquisition of Vantive Corp. for $598.9 million in stock to addcustomer-service software. Pleasanton, California-based PeopleSoftwill combine Vantive's customer-service software with its ownprograms that help companies automate accounting, inventory andpersonnel functions. PeopleSoft is betting the purchase will jump-start its its products that power electronic commerce. FCC namesInternet expert as tech chief The Federal Communications Commissionnamed David Farber, 65, a pioneering computer scientist andtelecommunications expert, as the agency's new chief technologist.Farber, known for his daily e-mail list "Interesting People" thatcirculates among 25,000 Internet users, has worked with key officialsat the agency, and his Internet expertise was a factor in hisselection, an official said. "He's just so well respected in theindustry," said Dale Hatfield, chief of the FCC Office of Engineeringand Technology, and Farber's new boss. "It just seems like he's idealfor the sort of issues we're facing with the incredible growth oftechnology and the Internet." Farber is a telecommunicationsprofessor at the University of Pennsylvania and was an expert witnessfor the government in the Microsoft Corp. antitrust trial. Herebutted the company's position that integrating its browser softwareinto its Windows operating system was a technical decision. BellAtlantic enters long-distance market Bell Atlantic will announce itsnew long-distance service Tuesday, marking its entrance into thelucrative New York long-distance market. Last month, the FederalCommunications Commission approved Bell Atlantic's bid to offer long-distance service in New York state, making it the first regional Bellcompany to offer this service inside its local region. Under the FCCruling, New York consumers can begin using Bell Atlantic's longdistance services beginning Wednesday. Bell Atlantic said it expectsto win over 25 percent to 30 percent of the $8 billion market withinthe next five years. Perkins chief to get controlling stake Thechairman and chief executive of Perkins Restaurants and Bakeries isgaining a controlling stake in the closely held chain after a buyoutof three other shareholders. The change in the company's capitalstructure, which involves creating a holding company, will give CEODonald N. Smith control with 70 percent of Perkins shares, up from 50percent, while new partner BankBoston Ventures will get the remaining30 percent.