ZIP virus?

From: Timothy D. Lenz (no_at_spam.com)
Date: 01/27/04 

Date: Tue, 27 Jan 2004 13:22:55 -0700

Does pkzip now execute code in a zip while unziping? I know sfx files
when run contain code, but a zip should be 100% safe to open as long
as you don't run any programs contained inside. I know who ever
designed the jpg standard was stupid enough to put code in that could
be executed. I hope pkware wasn't. There is just no reason to put code
in some file types such as images documents and archives.

Yet today I just got several emails from names I don't know that look
like every other bit of virus and spam crap that comes in and checking
in PURE text mode, I see the attachment is a zip.