Leading off this week’s roundup, from our sister site SearchCIO-Midmarket.com, we have a CIO whose gold medal-worthy green tech innovation is truly energizing London’s Olympic Park. Also, read about how speeding to market with software could kill a trading firm, and read about the CIO’s role in IT transformation.

As chronicled on the SearchCIO-Midmarket.com blog, CIO Symmetry, the CIO of the London summer games scored big, lighting up Olympic Park with green tech innovation. And he didn’t even have to put on a Speedo.

Speed is great for sprinters and the like but can be downright dangerous for makers of stock-trading software. Perhaps Wall Street’s third stock-trading fiasco in five months will drive home this point.

Winning by changing the rules doesn’t sound very sportsmanlike. Unless we’re talking victory over network hackers — then by all means we ought to hear out the argument for changing the rules of writing code.

Think social collaboration is a frivolous pursuit? Perhaps this bar graph can convince you otherwise.

Finally, be sure to check out this week’s CIO Matters column, in which SearchCIO.com’s Editorial Director Scot Petersen looks at the role of the CIO in the midst of IT transformation.

As you reflect and relax with family and friends this weekend, we hope you’ll spend a little time with this week’s roundup. We kick it off with bits from the social media realm, including why your CEO is hurting the company if he/she isn’t living a rich social media life; a few reasons why Facebook had a thumbs-down kind of week; and why social media and silos don’t mix. Finally, we hope you’ll take a few moments to help out with important research at The CIO Leadership Institute by taking their survey on social media.

• Funny, he seems so bubbly at the company meeting. Forbes looks into a recent IBM study that claims a CEO’s lack of a social media life may be to the detriment of the company.
• Unless you count the release of its rather Instagram-y camera app, Facebook had a pretty crummy week. Blogger Nigel Cameron offers up three simple reasons no one seems to want to be in a relationship with FB since its IPO.
• It’s called social media for a reason – keeping it siloed is against its nature (oh, and a waste of money).
• What happened in Utah could happen anywhere, a simple little mistake cost millions of dollars, scores of data and a CIO’s job — so what can we learn from the little big breach?
• Still on the fence about bring-your-own-device, or BYOD? Ugh, just do it all ready, says Mashable, rolling its eyes and handing you these five easy steps to BYOD transformation.
• It’s a long weekend, so we know you have the time to take this survey from The CIO Leadership Institute — you can use the hand not holding the hot dog to tap the screen or click the mouse. Thank you!

Somebody fell asleep at the switch — or server, as it were — allowing hackers in Eastern Europe to slip right into the state’s Medicaid database. They slipped out with hundreds of thousands of birthdates, names, addresses and social security numbers, among other useful tidbits. It’s believed that, by exploiting an unchanged default password on the user-authentication layer of the system, they were able to bypass multiple layers of security controls. Yes, a default password cost at least one person his job, more than half a million people their privacy and millions in taxpayer dollars to clean up the mess.

Herbert said he sought the CIO’s resignation because Fletcher lacked “oversight and leadership.” Ouch. Maybe this wouldn’t sound so bad if, as several accounts suggest, Fletcher weren’t so good. Since he was named the state’s CIO in 2005, Utah has emerged as a leader in government tech and innovation, and Fletcher has been credited with leading the state to successful enterprise-wide IT consolidation and centralization. He’s a past president of the National Association of State Chief Information Officers and a past recipient of Government Technology‘s “Top 25 Doers, Dreamers and Drivers” award. But now a default password overshadows all of that.

Fletcher told Government Technology that the incident was preventable and is an example of why more funding is needed to protect government IT systems. In just the past four months, he said, cyberattacks on the state’s technology system have spiked 600%. But Fletcher also bemoaned the fact that this would overshadow all of the good work done by his department — the cost savings, the consolidation, the presence of more than 1,000 online services for residents.

Whether Fletcher is personally at fault is still under investigation, but he certainly has taken the fall. One would hope security protocols at least existed — if not, the blame surely lies at his feet. If they were in place and employees simply didn’t follow them — well, the blame still falls on Fletcher. In the end, he is the leader in this scenario, and unless it can be proved his team members maliciously left the server vulnerable, it’s his job to make sure they do theirs.

Certainly, this is an extreme example of what can go wrong when security protocols are not adhered to (or are possibly nonexistent), but nonetheless one worthy of every CIO’s attention.  Handling security and compliance is a balancing act and a team effort. Stories like this one are sobering reminders that, while it isn’t easy, steadfast attention to managing information risk has value beyond measure.