Financial Services Companies Ahead

By Chris Preimesberger  |  Posted 2007-03-07 Print this article Print

of the Curve"> Financial Services Companies Ahead of the Curve In financial services, where Smith said LiveOffice has been very busy in the last five years, this "redundant" type of archiving system is now commonplace.
"They [the financial services companies] have the systems in place, theyre doing audit requests and legal discovery on a regular basis," Smith said. "This new [federal] guideline really shifts the burden to companies now. No judge is going to say, What do you mean, you dont have e-mail?—especially to a technology company like Intel."
eWEEK obtained a copy of a letter Intel sent to AMD and to Farnan on March 6. In it, the company said that despite a companywide effort to comply with AMDs requests for evidentiary documents—including tape backups of more than 1,000 of its employees correspondence documents—the company admitted there were "inadvertent mistakes in the implementation" of its preservation process. For example, some employees obeyed the request to save their e-mails to a backup hard drive but did not save their "sent" e-mail folders—only the "incoming" mail folder. As a result, those "sent" e-mails were purged as part of Intels regular maintenance program. In the letter, Intel also said a few employees didnt follow the directive at all because they believed the IT department was automatically saving their e-mails on its own. In the letter, Intel also said that it is reviewing its document-retention efforts related to former employees, because there "may be some lapses." "We have been very transparent all along in this process," Intel media relations officer Chuck Mulloy told eWEEK. "We know we have some issues, but weve explained it all very clearly and are going to rectify the situation as quickly as possible." Goodwin said that in an ironic way, Intels issues are "good for our business, and excellent for companies who use SAAS." "This is bringing a lot of attention to the importance of e-mail archiving," Goodwin said. "If one of the most respected, powerful IT companies in the world can have this problem, what about all the rest of us?" Editors Note: This story was updated to include information about a deadline given to Intel by a federal judge. Check out eWEEK.coms for the latest news, reviews and analysis on enterprise and small business storage hardware and software.

Chris Preimesberger Chris Preimesberger was named Editor-in-Chief of Features & Analysis at eWEEK in November 2011. Previously he served eWEEK as Senior Writer, covering a range of IT sectors that include data center systems, cloud computing, storage, virtualization, green IT, e-discovery and IT governance. His blog, Storage Station, is considered a go-to information source. Chris won a national Folio Award for magazine writing in November 2011 for a cover story on and CEO-founder Marc Benioff, and he has served as a judge for the SIIA Codie Awards since 2005. In previous IT journalism, Chris was a founding editor of both IT Manager's Journal and and was managing editor of Software Development magazine. His diverse resume also includes: sportswriter for the Los Angeles Daily News, covering NCAA and NBA basketball, television critic for the Palo Alto Times Tribune, and Sports Information Director at Stanford University. He has served as a correspondent for The Associated Press, covering Stanford and NCAA tournament basketball, since 1983. He has covered a number of major events, including the 1984 Democratic National Convention, a Presidential press conference at the White House in 1993, the Emmy Awards (three times), two Rose Bowls, the Fiesta Bowl, several NCAA men's and women's basketball tournaments, a Formula One Grand Prix auto race, a heavyweight boxing championship bout (Ali vs. Spinks, 1978), and the 1985 Super Bowl. A 1975 graduate of Pepperdine University in Malibu, Calif., Chris has won more than a dozen regional and national awards for his work. He and his wife, Rebecca, have four children and reside in Redwood City, Calif.Follow on Twitter: editingwhiz

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