To add to Mark’s point, “The Tech Rebound that Isn’t Quite“ (NY): “Instead of leading the economy, as it did in the 1990’s, the technology sector is being pulled along with it, behaving more like other industries and less like a business that operates by its own ‘new economy’ rules. And so it may be that Wall Street has gotten ahead of itself, acting as if an old-fashioned tech rebound were under way. ...Long gone is the irrational optimism of the 90’s and the notion that technology alone can transform a business. Today, corporate executives regard technology as simply a tool — though a crucial one, if used wisely. But it is also a costly tool: Information technology accounts for nearly 60 percent of all business equipment investment. So there is plenty of incentive to restrain spending.Technology is still a big corporate expense, but technology budgets have flattened out, if not fallen, at most companies. “
