Blogging - Not on Company Time?

I saw a post by Dan Roddy - Do you have a blogging policy?

As part of an interview for a new job, he got into a discussion with his potential new employer of their policy was around blogging.

Their response was; if it helps you and you don't give away any secrets, and don't do it in company time, then that would be okay.

The part I find interesting is "don't do it on company time" ... What if it helps the company? What if I'm using blogging as part of my Information Radar? What if I need help from my learning network on a particular work challenge that I can ask without revealing any secrets?

I've blogged before about Corporate Social Media Policies and Corporate Policies on Web 2.0 and my general sense has been that corporate policy would be that it would be okay to blog on company time if you are doing it to help you with your work activities. Am I wrong on this?

Likely there is some balance here and everyone should pay attention to that balance. But making a blanket statement - "Not on company time" seems a bit farther than the policy should be.