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We have been discussing the merit or otherwise of Yammer in our brand. I believe it adds value. We are a geographically dispersed organisation and many people homework. I think you have hit on a good point that Twitter/ Yammer can replace the water cooler conversations. I know of people who couldn't work from home because they missed these types of conversations, I doubt the technology will change that, but I definately believe there is value to be had from water cooler conversations. I am sure it was a book by "Cotter" - What Leaders Do, that talked about the real value to organisations of informal communications.