Comdisco Provides NationsBank With Recovery Support After Nashville Tornadoes.ROSEMONT, Ill.--(BUSINESS WIRE)--April 27, 1998-- Bank Clears 750,000 Checks, $500,000,000 in Processing from Recovery Facility Comdisco, Inc. (NYSE NYSE See: New York Stock Exchange :CDO (Collaborative Data Objects) A programming interface from Microsoft for accessing MAPI-based e-mail, calendaring and scheduling servers. Originally called "OLE Messaging" and "Active Messaging," CDO wraps the Enhanced MAPI library into a COM object that provides the ) announced today that it provided business continuity recovery support services support services Psychology Non-health care-related ancillary services–eg, transportation, financial aid, support groups, homemaker services, respite services, and other services to NationsBank (NYSE:NB), the country's third largest bank, after NationsBank facilities in Nashville, TN were damaged by the highly destructive tornadoes that struck that city's downtown area on April 16, 1998. The bank declared a disaster with Comdisco that evening and immediately began relocating check-processing operations and staff to one of Comdisco's two Atlanta Metro recovery facilities. The Norcross, GA-based facility specializes in recovery of check-processing technology. By Friday, April 17, all the technology NationsBank required, including NCR (NCR Corporation, Dayton, OH, www.ncr.com) A technology company specializing in financial terminal transactions, retail systems and data warehousing. Until the late 1990s, NCR was heavily invested in the hardware side of the industry, known worldwide as a major manufacturer of computers 7760 check proof machines, IBM (International Business Machines Corporation, Armonk, NY, www.ibm.com) The world's largest computer company. IBM's product lines include the S/390 mainframes (zSeries), AS/400 midrange business systems (iSeries), RS/6000 workstations and servers (pSeries), Intel-based servers (xSeries) 3890 XP check sorter systems, Banctec equipment, printers and terminals, had been tested and was operating as required. The bank, relying on 150 employees that arrived at the recovery facility from 11 cities throughout the NationsBank franchise, began processing the checks from the recovery facility on Friday and continued operations at the facility through Saturday. After a structural analysis of the bank's Nashville facility was complete and the bank received clearance to reoccupy Re`oc´cu`py v. t. 1. To occupy again. its site, check-processing operations began to return to the Nashville location Saturday evening. During the two-day occupation of the Comdisco recovery facility, NationsBank was able to process and clear approximately 750,000 checks representing five hundred million dollars. In all, 1.2 million items were processed at the recovery facility. "I was very proud of the way our associates and Comdisco worked together to serve our customers during a tremendous time of need," said Doyle Rippee, president, NationsBank Tennessee. "Financial institutions are obligated ob·li·gate tr.v. ob·li·gat·ed, ob·li·gat·ing, ob·li·gates 1. To bind, compel, or constrain by a social, legal, or moral tie. See Synonyms at force. 2. To cause to be grateful or indebted; oblige. to clear millions of dollars in checks each day, even in times of disaster," said Allan Graham, senior vice president, operations, Comdisco. "The ability to do this requires they have business recovery programs that will ensure ongoing operations for critical functions. While studies have shown that many organizations do not have effective programs in place, Nationsty opened in 1993 and focuses exclusively on providing check-processing recovery. In addition to this facility, Comdisco has more than 40 business recovery facilities located throughout North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. , Europe and the Pacific Rim Pacific Rim, term used to describe the nations bordering the Pacific Ocean and the island countries situated in it. In the post–World War II era, the Pacific Rim has become an increasingly important and interconnected economic region. , serving the recovery needs of companies across all industries. NationsBank Corporation, with $315 billion in total assets, is the third largest U.S. bank with full-service operations in 16 states and the District of Columbia District of Columbia, federal district (2000 pop. 572,059, a 5.7% decrease in population since the 1990 census), 69 sq mi (179 sq km), on the east bank of the Potomac River, coextensive with the city of Washington, D.C. (the capital of the United States). . NationsBank provides financial products and services to more than 18 million households and one million businesses as well as institutional investors and government agencies in 46 states and in major markets around the world. The company's shares (NB) are listed on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. . Comdisco, Inc. (NYSE:CDO), a technology services company, is one of the world's leading providers of solutions that help organizations reduce technology cost and risk. These services include asset management; business continuity; network services; and equipment leasing and remarketing. Comdisco's revenue for the 12 months ended March 31, 1998 totaled $3.0 billion. For more information, call 800-272-9792 or visit Comdisco's Web site at www.comdisco.com. Comdisco is a registered trademark of Comdisco, Inc. Other names are trademarks of their respective companies. CONTACT: Comdisco Diane Laux, 847/518-5409 djlaux@comdisco.com or NationsBank Fred Hannon, 704/386-9535 fredhannon@nationsbank.com |
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