New ARMA On-line course for Records Retention and Disposition

Posted on Oct 27, 2009 in Records Management News

http://www.prweb.com/releases/ARMA_International/Online_Course/prweb3114214. htm

Pro­tect­ing Orga­ni­za­tions through Records Reten­tion and Disposition

ARMA Inter­na­tional Announces New Online Course

(Vocus http://www.vocus.com /PRWEB http://www.prweb.com/ ) Octo­ber 27, 2009 — The deci­sion of whether to keep or dis­card paper and elec­tronic records is not one to be taken lightly. Records reten­tion and dis­po­si­tion requires a defined, sys­tem­atic approach to avoid the pit­falls and risks asso­ci­ated with lit­i­ga­tion. Each orga­ni­za­tion should be tak­ing the nec­es­sary steps to pro­tect them­selves by ensur­ing they are not destroy­ing records too soon. ARMA International’s newest online course Records Reten­tion and Dis­po­si­tion is the per­fect resource for cre­at­ing and imple­ment­ing a records man­age­ment pro­gram that includes an effec­tive reten­tion schedule.

News ImageThis 90-minute online course pro­vides a well-rounded intro­duc­tion to the value and the­ory of records man­age­ment; the basic skills of records inven­tory, reten­tion sched­ul­ing, clas­si­fi­ca­tion, stor­age; and in plan­ning and man­ag­ing a records man­age­ment pro­gram. It offers an overview of records man­age­ment ter­mi­nol­ogy, con­cepts, and pro­ce­dures to suc­cess­fully man­age records in today’s busi­ness environment.

Records Reten­tion and Dis­po­si­tion is full of prac­ti­cal, real-world solu­tions that can be put to work imme­di­ately. Indi­vid­u­als who com­plete the course will be able to:

§ Describe the pur­pose and ben­e­fits of a records reten­tion and dis­po­si­tion program

§ Plan and imple­ment a records inventory

§ Develop a reten­tion sched­ule based on inven­tory results and other considerations

§ Deter­mine the appro­pri­ate method of records dis­po­si­tion for a par­tic­u­lar record

Each sec­tion con­tains learn­ing objec­tives, audio, and review ques­tions, as well as print­able course notes for easy offline read­ing and review. For more infor­ma­tion and to reg­is­ter, visit http://www.arma.org/learningcenter/onlinecourses/retentioncourse.cfm.

About ARMA Inter­na­tional ARMA Inter­na­tional http://www.arma.org/ (www.arma.org) is a not-for-profit pro­fes­sional asso­ci­a­tion and the author­ity on man­ag­ing records and infor­ma­tion. It is known world­wide for set­ting stan­dards and best prac­tices, and for pro­vid­ing com­pre­hen­sive edu­ca­tion, pub­li­ca­tions, and infor­ma­tion on the effi­cient main­te­nance, retrieval, and preser­va­tion of vital infor­ma­tion cre­ated in pub­lic and pri­vate orga­ni­za­tions in all sec­tors of the econ­omy. Formed in 1955, ARMA Inter­na­tional is the old­est and largest asso­ci­a­tion for the records and infor­ma­tion man­age­ment pro­fes­sion http://www.arma.org/ with a cur­rent inter­na­tional mem­ber­ship of more than 11,000. It also pub­lishes the Infor­ma­tion Man­age­ment mag­a­zine http://www.arma.org/imj/index.cfm .

Con­tact: Ash­ley Flynn ARMA Inter­na­tional 913.312.5561

Read more here: http://www.prweb.com/releases/ARMA_International/Online_Course/prweb3114214. htm

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Cary

Watch Obama Video yesterday at Metropolitan Archives in DC

Posted on Oct 23, 2009 in Records Management News

Video Link

http://www.bluemaumau.org/8065/obama_asks_sba_loan_expansion_franchisees_agree

Obama Asks for SBA Loan Expan­sion, Fran­chisees Agree Posted Thu, 2009/10/22 — 07:56 by Don Sniegowski Sec­re­tary of the Trea­sury Tim Gei­th­ner, Pres­i­dent Barack Obama and SBA Admin­is­tra­tor Karen Mills Oct 21, Sec. of Trea­sury Tim Gei­th­ner and SBA Admin­is­tra­tor Karen Mills lis­ten to Pres. Obama dis­cuss small busi­ness relief. Photo/YouTube

WASHINGTON — Pres­i­dent Barack Obama announced plans Wednes­day after­noon to shift some of Wall Street’s bailout funds over to com­mu­nity banks in order to spur lend­ing to small busi­nesses, which has slowed to a trickle. With SBA admin­is­tra­tor Karen Mills and Sec­re­tary of the Trea­sury Tim Gei­th­ner flank­ing him, Pres­i­dent Obama made sev­eral announce­ments to boost small business.

The President’s speech took place at Met­ro­pol­i­tan Archives, a family-operated records stor­age com­pany in Lan­dover, Maryland.

Pres­i­dent Barack Obama, who as a high school stu­dent served ice cream in a Hon­olulu Baskin Rob­bins fran­chise, described how small busi­ness own­ers and their tire­less work ethic form the back­bone of the Amer­i­can econ­omy. “Hewlett-Packard began in a garage. Google began as a research project. McDonald’s started with just one restau­rant,” he said.

The Pres­i­dent went on to say that although small busi­ness cre­ates 65 per­cent of all new jobs, small busi­nesses have been some of the hard­est hit by the reces­sion. “From the mid­dle of 2007 through the end of 2008, small busi­nesses lost 2.4 mil­lion jobs,” said the Pres­i­dent. “And because banks shrunk from lend­ing in the midst of the finan­cial cri­sis, it’s been dif­fi­cult for entre­pre­neurs to take out the loans they need to start a busi­ness. For those who do own a small busi­ness, it’s been dif­fi­cult to finance inven­to­ries and make pay­roll, or expand if things are going well.”

The White House is request­ing that Con­gress increase Small Busi­ness Admin­is­tra­tion 7(a) and 504 loans, used by small busi­ness own­ers to typ­i­cally buy equip­ment, land and build­ings, from the cur­rent cap of $2 mil­lion to $5 million.

“These larger loans will help more small busi­ness own­ers and fran­chisees grow,” Obama declared.

The Admin­is­tra­tion plans to bring together reg­u­la­tors, con­gres­sional lead­ers, lenders and small busi­nesses to dis­cuss what steps are nec­es­sary to get the small busi­ness credit pump flow­ing again.

“I’m con­fi­dent that the steps we announced today will do that for small busi­ness own­ers across the coun­try, men and women we hear from every day,” said the president.

Fran­chisees Want Help

Inter­na­tional Fran­chise Asso­ci­a­tion CEO Matthew Shay thinks the loan cap increase is a good idea. Dur­ing the year, the IFA has lob­bied Con­gress, the Trea­sury, the Small Busi­ness Admin­is­tra­tion and the Fed­eral Reserve to help change the lack of cap­i­tal access for fran­chise chains. Those efforts seem to be bear­ing fruit.

“Admin­is­tra­tion offi­cials noted that the desire to increase the size of the SBA loans was dri­ven in part by meet­ings with large fran­chise cor­po­ra­tions like Dunkin’ Donuts,” reports BusinessWeek.

“There are over 400 dif­fer­ent fran­chise brands in the United States that have an aver­age ini­tial invest­ment require­ment of $750,000 to $2 mil­lion per unit,” observes Shay. “These fran­chised small busi­nesses reach the SBA’s cur­rent loan limit of $2 mil­lion by the time they want to build the sec­ond or third store. By increas­ing the loan limit to $5 mil­lion, at an annual growth rate of 5 per­cent, these busi­nesses could cre­ate 450,000 to 650,000 new direct and indi­rect jobs within the next 12 to 18 months.” Obama announces new lend­ing initiatives

The Inter­na­tional Fran­chise Asso­ci­a­tion, rep­re­sent­ing the needs of some 1,100 fran­chisors, arranged for fran­chisor mem­bers to invite their fran­chisees to attend the meet­ing. Fran­chisee Vinay Patel of JAI hotels, Meineke dealer Chris Schmitz, and other fran­chisees were in atten­dance, many are also mem­bers of inde­pen­dent fran­chisee associations.

Fran­chisee Chris Schmitz, also pres­i­dent of the Meineke Deal­ers Asso­ci­a­tion, an inde­pen­dent fran­chisee asso­ci­a­tion, said, “Ken Walker [CEO of fran­chisor Meineke] asked me to rep­re­sent fran­chisees on behalf of the IFA.” Ken Walker, CEO of Meineke Car Care hold­ing com­pany Dri­ven Brands, Inc., is sched­uled to be the next chair­man of the Inter­na­tional Fran­chise Association.

Schmitz says that Pres­i­dent Obama’s mes­sage was good news for all fran­chisees. “Includ­ing those look­ing for cap­i­tal to make ends meet, expand their cur­rent oper­a­tions, acquire addi­tional units, or even those look­ing to sell or divest,” he elab­o­rates. He adds, “Increas­ing the avail­abil­ity and flow of credit can be an inte­gral part of revi­tal­iz­ing a down econ­omy and stem­ming the tide of ris­ing unem­ploy­ment, pro­vided the Con­gress fol­lows through with the initiative.”

Dunkin’ Donuts fran­chisee Andy Cabral was also in atten­dance, and was pointed out in the President’s speech.

“Andy started his busi­ness on an SBA loan and now runs 10 stores across Mary­land and Vir­ginia that employ 130 peo­ple,” Pres­i­dent Obama states. “And Andy has already seen one loan fall through the cracks because of the finan­cial cri­sis and he’s hit the cap on his SBA loans. But the mea­sure we’re announc­ing today will help Andy and other fran­chisees pur­sue their plans to expand and cre­ate more jobs.”

Pres­i­dent Obama con­cluded the meet­ing, say­ing, “I know that times are tough and I can only imag­ine what many of you are going through, in terms of keep­ing things going in the midst of a very tough eco­nomic cli­mate, but I guar­an­tee you this: This admin­is­tra­tion is going to stand behind small busi­nesses. You are our high­est pri­or­ity because we are con­fi­dent that when you are suc­ceed­ing, Amer­ica succeeds.”

The Paperless Office & Document Retention Policies

Posted on Oct 23, 2009 in Records Management News

Tech & Trends Gen­eral Infor­ma­tion Octo­ber 23, 2009 • Vol.31 Issue 26

Mov­ing To A Dig­i­tized Work­place: The Paper­less Office & Doc­u­ment Reten­tion Policies

Key Points

• The dig­i­tized, paper­less office means adapt­ing doc­u­ment reten­tion poli­cies to reflect the array of elec­tronic data records and rel­e­vant legal and reg­u­la­tory requirements.

• A reten­tion strat­egy begins with defin­ing, list­ing, and cat­e­go­riz­ing the var­i­ous doc­u­ment types used within the enter­prise. This doc­u­ment map is the foun­da­tion for var­i­ous reten­tion sched­ules based on legal, reg­u­la­tory, or evi­den­tiary requirements.

• Gen­eral reten­tion guide­lines are help­ful in set­ting a pol­icy, but specifics will vary by com­pany and should be devel­oped in con­junc­tion with legal coun­sel expe­ri­enced in doc­u­ment reten­tion and elec­tronic discovery.

Visions of the paper­less office have largely been ren­dered absurd by his­tor­i­cal events, as evi­denced by the bil­lions enter­prises spend every year on print­ers, copiers, and sup­plies. In fact, tech­nol­ogy has arguably made it eas­ier than ever to gen­er­ate paper. How­ever, the days of paper as a pri­mary records stor­age medium are num­bered; hard copy records take up too much space and take too long to search and retrieve. The con­flu­ence of mul­ti­t­er­abyte stor­age sys­tems, sophis­ti­cated doc­u­ment man­age­ment soft­ware, and dig­i­tized work­flows means that enter­prises are build­ing key busi­ness processes around online forms and dig­i­tal records.

Yet, when tran­si­tion­ing to dig­i­tal paper­less sys­tems, the archival and reten­tion of records are crit­i­cal poli­cies that are often over­looked. Accord­ing to Info-Tech Research ana­lyst Rahul Par­mar, “The devel­op­ment of a doc­u­ment reten­tion strat­egy is the first phase of trans­fer­ring a paper-based sys­tem to a dig­i­tal one.” He notes that given the impli­ca­tions for every facet of a busi­ness, the impe­tus and lead­er­ship for doc­u­ment reten­tion poli­cies gen­er­ally comes from upper man­age­ment, not IT. “This is a busi­ness prob­lem, not a tech­ni­cal one,” says Par­mar, adding that IT is respon­si­ble for the tools and back-end infra­struc­ture but not the entire project.

Ele­ments Of A Doc­u­ment Reten­tion Policy

The first step in strat­egy devel­op­ment, accord­ing to Par­mar, is gain­ing an under­stand­ing and overview of the types of doc­u­ments used in an orga­ni­za­tion and their move­ment through var­i­ous work­flows and busi­ness processes. “Take the time to define who cre­ates, uses, and man­ages the doc­u­ments in ques­tion,” he advises. “Ensur­ing a com­plete list of records is gen­er­ated early will save time later on.”

Next, these var­i­ous doc­u­ment types should be clas­si­fied based on their con­trac­tual, finan­cial, tax, or reg­u­la­tory impor­tance, as these cat­e­gories drive a major pol­icy ele­ment: the reten­tion period. Unfor­tu­nately, this can be a painstak­ing and time-consuming process. Accord­ing to Michael Overly, a part­ner in Foley and Lard­ner LLP and co-author of the book “Doc­u­ment Reten­tion in the Elec­tronic Work­place,” there is an enor­mous range of laws and reg­u­la­tions affect­ing indi­vid­ual com­pa­nies, and although there are gen­eral reten­tion guide­lines for dif­fer­ent doc­u­ment types, there’s no “one-size-fits-all” template.

Reten­tion Peri­ods & Doc­u­ment Retrieval

Reten­tion peri­ods for many records are spec­i­fied by law, reg­u­la­tion, or con­trac­tual oblig­a­tion, with Sarbanes-Oxley being per­haps the best-known and most far-reaching statute affect­ing pub­licly traded com­pa­nies. Accord­ing to Par­mar, any doc­u­ments required on file for audit, legal, or com­pli­ance pur­poses are con­sid­ered retain­able records, as are those that have evi­den­tiary or ref­er­ence value. Because exact reten­tion peri­ods vary widely by com­pany and indus­try, Overly advises engag­ing an attor­ney expe­ri­enced in the field when devel­op­ing a policy.

Business-specific caveats aside, Par­mar offers guide­lines he says can be used as min­i­mal stan­dards. In gen­eral, employ­ment records should be kept for the length of employee tenure plus seven years, while sales records should be kept three to seven years past the trans­ac­tion date. Audit laws stip­u­late that tax records be retained for seven years, while doc­u­ments per­tain­ing to real estate trans­ac­tions should be kept for 20 years. Finally, doc­u­men­ta­tion of inven­tions or any con­tent cov­ered by patent, copy­right, or trade­mark laws should be kept per­ma­nently. Par­mar notes this lat­ter cat­e­gory likely includes Web pages and email messages.

Accord­ing to Jeff Fowler, an attor­ney in O’Melveny & Myers LLP’s Elec­tronic Dis­cov­ery and Doc­u­ment Reten­tion Prac­tice, two of the most impor­tant fea­tures of the paper­less office and asso­ci­ated reten­tion strat­egy are orga­ni­za­tion and effi­ciency, because doc­u­ments need to be easy to find and con­ve­nient to access. These goals neces­si­tate hav­ing a cen­tral­ized data repos­i­tory and not allow­ing indi­vid­ual employ­ees to store doc­u­ments and email archives on their per­sonal lap­tops. Like­wise, Fowler rec­om­mends com­pa­nies con­sider using some form of email archiv­ing or doc­u­ment man­age­ment sys­tem to aid in records search and recov­ery. Overly adds that archiv­ing to WORM (write-once, read many) media is prefer­able because stored doc­u­ments are inher­ently tamper-resistant and thus less likely to gen­er­ate legal chal­lenge to their authenticity.

Legal & Reg­u­la­tory Issues

Doc­u­ment reten­tion poli­cies have recently received much atten­tion, as orga­ni­za­tions grap­ple with their readi­ness for elec­tronic dis­cov­ery, accord­ing to Amy Longo and Allan John­son, col­leagues of Fowler’s at O’Melveny and Myers. Cit­ing a recent case in the U.S. Dis­trict Court for Utah reject­ing as unrea­son­able a defendant’s claim that indi­vid­ual employ­ees were expected to retain per­ti­nent data, Longo and John­son note “the court found that the ‘lack of a reten­tion pol­icy and irre­spon­si­ble data reten­tion prac­tices’ resulted in the destruc­tion of rel­e­vant evi­dence, vio­lat­ing the company’s duty to preserve.”

Overly says an often-overlooked con­sid­er­a­tion in reten­tion poli­cies, which over­rides stan­dard reten­tion peri­ods, is known as a lit­i­ga­tion hold—documents rel­e­vant to active lit­i­ga­tion must be pre­served even if they have reached the end of their reten­tion period.

Email presents a par­tic­u­larly sticky reten­tion prob­lem, accord­ing to Overly. He says that ini­tially, many com­pa­nies assumed every email was poten­tially harm­ful; thus, they often adopted very short reten­tion peri­ods, some­times only 30 to 90 days, out of fear of legal lia­bil­ity or embar­rass­ment from this largely uncon­trolled medium of employee com­mu­ni­ca­tions. More recently, enter­prises have come to real­ize the down­side of such hasty dis­posal because, as Overly observes, email often con­tains much of the intel­lec­tual cap­i­tal and undoc­u­mented knowl­edge in a firm. Fowler adds that the law stip­u­lates reten­tion poli­cies must be imple­mented in good faith and that courts may see unrea­son­ably short reten­tion peri­ods as an attempt to shirk legal obligations.

Accord­ing to Par­mar, “Form­ing a sound doc­u­ment reten­tion strat­egy is the first and most impor­tant step in cre­at­ing a paper­less office envi­ron­ment.” How­ever, this can’t be an IT-only project because it touches all areas of the enter­prise. Accord­ing to Overly, as com­pa­nies tran­si­tion to a dig­i­tal work­place, issues of doc­u­ment man­age­ment, infor­ma­tion secu­rity, and legal and reg­u­la­tory com­pli­ance become inter­twined. Although IT is cer­tainly respon­si­ble for the enabling tech­nol­ogy and tech­ni­cal com­po­nents, Par­mar says the scope of doc­u­ment reten­tion pol­icy under­scores the need to assem­ble a diverse team to define, list, and cat­e­go­rize records; set reten­tion peri­ods; and develop pro­ce­dures for destroy­ing expired documents.

by Kurt Marko

Risks Of Not Hav­ing Or Fol­low­ing A Doc­u­ment Reten­tion Policy

• Inabil­ity to retrieve and pro­duc­tively use business-critical infor­ma­tion on a daily or his­toric basis

• Increased costs of doing busi­ness from inef­fi­cien­cies related to dis­parate or inac­ces­si­ble data

• Fail­ure to com­ply with statu­tory or reg­u­la­tory reten­tion and destruc­tion requirements

• Reduced abil­ity to com­ply with court orders and other litigation-related imper­a­tives requir­ing access to exist­ing information

• Inabil­ity to respond promptly to gov­ern­ment inquiries

• Hefty sanc­tions for fail­ing to preserve/produce elec­tronic evidence

Source: “Goals Of An Elec­tronic Doc­u­ment Reten­tion Pro­gram”; Pre­sen­ta­tion by Blake Marks-Dias, Rid­dell Wil­iams P.S.; June 2006.

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Cary

Metropolitan Archives, a records storage company in Landover, northeast of Washington, that financed its warehouse in part with a $2 million loan guarantee under the 504 program

Posted on Oct 21, 2009 in Records Management News

http://boss.blogs.nytimes.com/2009/10/20/obama-to-announce-small-business-stimulus/

Obama to Announce Small-Business Stim­u­lus By Robb Man­del­baum The Agenda

Pres­i­dent Obama will visit a Mary­land busi­ness on Wednes­day after­noon to announce ini­tia­tives to encour­age lend­ing to small busi­nesses. Accord­ing to an admin­is­tra­tion offi­cial, the pro­posal will increase the caps for exist­ing Small Busi­ness Admin­is­tra­tion loans and give smaller banks bet­ter access to funds from the Trou­bled Assets Relief Program.

An indus­try offi­cial involved in S.B.A. lend­ing said the White House would pro­pose rais­ing the cap on the agency’s flag­ship 7(a) loan from $2 mil­lion to $5 mil­lion. But other pro­grams are likely to see increases, too, includ­ing the 504 program.

The event will take place at Met­ro­pol­i­tan Archives, a records stor­age com­pany in Lan­dover, north­east of Wash­ing­ton, that financed its ware­house in part with a $2 mil­lion loan guar­an­tee under the 504 pro­gram, accord­ing to Chris Craw­ford, pres­i­dent of the National Asso­ci­a­tion of Devel­op­ment Com­pa­nies, which lob­bies for non­profit 504 lenders.

Mr. Craw­ford said this par­tic­u­lar busi­ness offered potent sym­bol­ism for Mr. Obama’s mes­sage. Met­ro­pol­i­tan Archives, he said, is “look­ing for money to fur­ther expand their prop­erty, but they can­not do another S.B.A. loan under the cur­rent reg­u­la­tions” because $2 mil­lion is the most any busi­ness can bor­row with an S.B.A. guarantee.

Chang­ing S.B.A. pro­grams would be sub­ject to Con­gres­sional approval.

We expect to have more details on the ini­tia­tive on Wednes­day morn­ing, in advance of Mr. Obama’s 1:30 p.m. announcement.

Stephen Laba­ton con­tributed report­ing to this post.

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Cary

Data Dimensions buys Rockford storage facility

Posted on Oct 21, 2009 in Records Management News

http://milwaukee.bizjournals.com/milwaukee/stories/2009/10/19/daily37.html

Data Dimen­sions buys Rock­ford stor­age facil­ity The Busi­ness Jour­nal of Milwaukee

Data Dimen­sions, a Janesville doc­u­ment man­age­ment ser­vices com­pany, said that it has acquired Ogilby Trans­fer & Stor­age, a pri­vately held stor­age facil­ity in Rock­ford, Ill.

The trans­fer includes more than 24,000 boxes and 47 clients to Data Dimension’s Records Man­age­ment Cen­ter in Janesville. Terms of the trans­ac­tion were not disclosed.

The announce­ment comes two weeks after the com­pany said it had begun con­struc­tion of a new oper­a­tions facil­ity adja­cent to its head­quar­ters in an expan­sion expected to cre­ate up to 250 jobs. The facil­ity is expected to open in Feb­ru­ary 2010 and ini­tially employ 50 workers.

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Cary