Companies are still concerned about the economy, but that hasn't stopped them from funneling more of their revenue to the IT department, according to the latest survey data from the Society for Information Management (SIM).
It pays to be CIO -- millions, in some cases. Take Filippo Passerini. He joined Procter & Gamble in 1981 as a systems analyst in Italy and rose through the techie ranks. Today Passerini is CIO and leads the company's global business services organization -- a dual role that netted him $5 million last year.
Slow load times and error messages dampened the launch of the health insurance exchanges that are the cornerstone of President Obama's healthcare law. On the first day of open enrollment, some visitors to the federally run healthcare.gov site were warned of system delays, and certain states also reported sporadic access problems.
The health insurance marketplaces mandated by the Obama administration's Affordable Care Act are scheduled to open for business in four days. Yet even before the sites launch, tech problems are emerging.
Oracle CEO Larry Ellison, who consistently ranks among the highest paid CEOs in the U.S., took an 18% pay cut this year. His total compensation, valued at $78.4 million, is down from $96.2 million in 2012.
Fewer CIOs are planning to expand their IT departments in Q4 than were three months ago, according to Robert Half Technology. But on the positive side, fewer CIOs have plans to freeze hiring or reduce their staffs in the coming quarter.
Tech companies are hanging on to record amounts of cash when they could be using it to do more acquisitions, repurchase stock, pay down debt, and pay out dividends. Microsoft, Google, Cisco, Apple and Oracle are among the biggest hoarders. Combined, these five tech companies held $245 billion in cash at the end of March.
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