[jyl]

Theory <> reality sometimes when it comes to document retention.

Once upon a time, the SEC was investigating the company I worked for, relating to communications we had with the management of a company shortly before that company disclosed information that sent its stock tumbling. We were required to produce all internal emails, documents, notes. We retained all such emails, of course, as required by Sarbannes Oxley and other post-Enron Federal law, and we had a whole IT and compliance team making sure of that. So naturally, our IT and compliance and legal people couldn't locate any of those emails. Fortunately I always archived my emails on my laptop, so we were able to produce them.