Videoconferencing a good idea in tough times?

Wachovia has gotten some rare good press lately for its fairly successful deployment of videoconferencing technologies. Wall Street & Technology reports that the bank has enjoyed a positive ROI that augurs well for even more robust use of the tool in the near future. By having executives meet virtually, Wachovia is already saving $70,000 a month in travel expenses. The firm is now starting to use videoconferencing for staff meetings across locations. Its latest studio can accommodate 18 people in front of three 65-inch high-definition plasma displays. The firm has constructed five "telepresence" studios--conference rooms set up with Cisco gear, cameras, microphones and a large flat-screen, wall-mounted monitor-two in Charlotte and one in Richmond, St. Louis and San Antonio. Each cost slightly less than $300,000 to set up, the magazine notes. It seems like decent timing, with the inevitable budget austerity setting in.  

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