Has IT Lost Its Clout?
IT SQUAWKBOX
Since that time, innovation and IT executives at sell-side firms have had to take a back seat to conservative fiscal pressures. Some would say that IT managers have been straight-jacketed by CEOs and CFOs as revenge for the excesses of the past decade.
Others such as Jonathan Beyman, CIO for Lehman Brothers, argue that the new scrutiny is fully justified. In a letter to the editor of Dealing with Technology, Beyman says that if the spending of the past decade was close to whimsical, then IT
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