Using a shell script to automatically modify a text file

I am trying to use SED to change values in a text file in Unix.  I want to:
1.  Search and replace all the string date value in column 4 to display the current date(sysdate).  Would I use /g?
2.  I want to remove the spaces from column 6 and concatenate the first 2 characters of  the first column into column 6(the comment field).  The comment field always begins with a date and may or may not always have blank spaces before the comments begin.  

 I have very limited experience with SED and would appreciate any help.  I am attaching a sample of the current format, as well as what the text should look like after converting the data.

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