COBOL will long be a vital language to the world's business community. There is simply too much COBOL still in use for it to go away any time soon.
There are mature, reliable COBOL compilers for x86 and x64 architectures that can make legacy code executable on a new platform after reasonable conversion. These new dialects of the versatile COBOL language extend it in ways that keep it functional and modern.
Most COBOL problems are caused by assumptions made about the data. COBOL's facility for flexible data definition makes it vulnerable to a number of strategic errors caused by such assumptions. For example, the unhappy conjunction of (1) COBOL's vast popularity (making it the largest portion of the world's business code base) and (2) COBOL's ability to process dates that are stored in 2-digit year format contributed mightily to the Year 2000 problem.
Let our 20+ years of experience with large COBOL projects help you make the most of your programming investment.