UBS-Painewebber manages stock transactions for its clients. UBS-PW processes transactions from all over the United States using a large computer network consisting of over 2,000 important servers in various locations. According to public record, UBS-PW was earning below its expectations in profits, like most companies experienced after the Sept. 11, 2001, terrorist attacks. As a result, most employees would not be taking home the bonuses they were promised in the preceding year.
The worst-case scenario for most companies sharing news like this with employees would be a higher-than-average rate of employee turnover. UBS Painewebber was not so lucky. On Monday March 4, 2002, a now-former UBS-PW systems administrator named Roger Duronio executed a logic bomb that disabled a large number of the important servers responsible for executing the stock trades when the stock market opened.
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