We likewise do 24x7 support for a computer integrated manufacturing line & an
around the world sales organization (sales offices in the pacific & Europe). 
There are two of us so we share the duties typically two weeks at a time.  The
company pays $200 per week no matter if you get called or not.  We each have
pagers but the on call person has the cell phone.  There is a laptop, but we
never use it as the company provides ISDN service from home into the local area
network.  That's scheduled to change in the near future to a VPN setup with
AT&T.  At any rate, things have been setup such that no matter if your in the
office or at home you have the same access and resources.  We've spent a lot of
time and money in setting up the production DB's and servers in the most fault
tolerant way possible.  Multiple CPU HP's that soft fail with redundant power
supplies.  Mirrored EMC disk arrays, triple oversized UPS systems, fault
tolerant CISCO switches, etc., etc., etc...  Also, since there was no such tool
in the old Oracle 6 days we created a program that runs on an NT box as a client
application that watches the DB's 24x7 and knows where the appropriate pagers
for the appropriate errors are, default the DBA's.  The entire system works
almost flawlessly.  Last year we only had 5 hours of unscheduled down time
across 10 production instances, all for hardware problems which really weren't
'unscheduled' since we had two days notice before.  Most weeks the only call
that comes in is a real nuisance as one of the line techs will mis-diagnose the
error he's seeing.

Dick Goulet
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