Co-worker blogging... killing 2 birds, suggestions?

My buddies and I were thinking...
We would keep a blog to record the fun things we do.
Because we are co-workers, we thought that would benefit our company's SEO (because we will have signature with company website).

We're looking at Greymatter, which automatically creates seperate HTML page for each entry.

Is this considered as un-ethical SEO practice?

If I make that blog, does it matter if I make it under our company domain name? or should I make it under my personal domain.
Or does it matter?

If you're employees, and don't own the company, I would check with your COMPANY if it's ok to associate this with the company's name.

we're a small company. My boss is excited about that idea.

She's basically saying "Have fun, keep it clean, and say plenty of good things about our company."

then do it!!