How's this for a horrifying scenario: Disgruntled employee found to be stealing from the company is fired. On the way out the door, he reformats everything. Or, perhaps even worse, said employee actually didn't do his job properly, and left the company's site (it's only asset)without meaningful backups. Such is the case of the previously unknown blogging software company Journal Space. The blog entry says it all: Backing up to RAID is not a good idea. Especially when it's your only contingency plan.
Of course, all of you cautious readers have off-site storage for tape backups, and you darn-sure don't leave the whole company database exposed to a single IT person with the power to spin the tumblers and leave everyone in the lurch.
Truly a cautionary tale with many lessons. Firstly, don't believe anyone who you're interviewing for a job. Make them prove everything they claim. Second, don't give the keys to the kingdom to any one person. Third, always always always have ridiculously redundant backups. It may cost money and take time, but when everything goes south, and the offsite location is invaded by Sandinistas, you'll be ever so glad you kept a whole image of the site in a locked box buried in your back yard.