I LOVE IT when we are in violent agreement with each other and representing
our diverging viewpoints from differing perspectives!

To speak to Alice's point- 

YES, there are distinct differences in the manner in which private and
public entities determine their retention periods.  Public entities (almost)
always rely on laws, regulations and statutes and they apply those that are
related to whatever the Agency or Entity is required to comply with.

In the US Federal realm, NARA (through 36CFR) establishes the minimum
requirements for Agencies and retention/disposition guidance comes from the
General Records Schedules (GRS).  *IF* Agencies are not able to use the
guidance in the GRS for records they create, then they produce Agency
specific retention schedules- most of these are called either Administrative
or Programmatic Schedules, and they must be submitted to NARA for approval
using the SF115 process.  This would be for records unique to those Agencies
*OR* for records that the Agencies desire to retain for a period longer than
stated in the GRS.  I've spent about 15 years in this environment, 10 in my
present role and 5 in the more distant past

When it comes to US States or Municipalities, retention periods are
generally designed based on a similar set of practices/rules.  Some look to
the GRS for baseline guidance, then regulatory agencies within their
individual States and they develop State Specific Retention Schedules, and
*IF* they have State Records Management Agencies, they likely have the
ultimate decision on what minimum retention requirements are.  My exposure
to these processes is limited to 10 years work I did while employed by a
Public Utility, and 8 years as a Contractor in one State who was governed by
a PUC (Public Utility Commission) that dictated retention requirements. 

When it comes to private entities, they make their decisions based on the
standard litany of reasons cited many times here:
  
1) Legal, Regulatory or Statutory requirements for the industry segment in
which they operate, 
2) any business needs which may exceed those, and 
3) any historic, intrinsic or enduring value the records may have specific
to that entity 

The added consideration many private entities have is risk/benefit.  They
may look at the cost associated with retaining records for the required
periods and decide that they are willing to accept any risks related with
discarding them SOONER than the required period, and determine they are
willing to accept that risk.  Similarly, they may want to retain them LONGER
than the required retention, and decide they are willing to accept any risks
associated with that decision. 

Larry
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