twitter's Journal: Bank Crash to Cost M$, Cisco $4.3 Billion.

Failed banks don't buy IT:

Microsoft and California based Cisco to lose $4.3 billion in orders next year. While Cisco earns about three percent to four percent of annual revenue from the U.S. financial industry, Microsoft accounted for 22 percent last year.

Larry Tabb, Founder of Tabb Group in New York says, "Finance-industry technology outlays will sink 20 percent to $17.6 billion next year from an estimated $21.9 billion in 2008." "Additional mergers could affect companies' technology spending," said Suresh Kumar, the Chief Information Officer of Pershing LLC, a subsidiary of the Bank of New York Mellon that oversees $940 billion in assets.

The picture is worse, now that we know that bail out money is being used for mergers instead of new loans as intended. Fewer banks will spend less money than more banks.

Heh

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Failed banks don't buy IT

And they don't fund FOSS projects, either. Say goodbye to things like AMQP [amqp.org], which was a JP Morgan initiative.

Re:

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Free software never dies.

No trollboy, it just doesn't get funded by "big dumb companies" and it does not advance as much as it has in the past five years.

Only non free software goes away while people still want it.

That's funny, all my "non free" software is still working perfectly.