IT Spending Continued Upward Spiral in 2000
SPECIAL REPORT
NEW YORK--Bear Stearns, Goldman Sachs, Lehman Brothers and Morgan Stanley all spent more money on IT last year, according to their latest earnings reports. Although all four firms declined to break out their IT budgets, analysts surveyed suggest the increase reflects ever-increasing maintenance costs as well as widespread efforts to build infrastructure and roll out Internet services.
[See chart, opposite page, for fourth-quarter and year-end comparisons of above firms' percentages of net
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