Economic fears dragging on tech spending
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The technology industry's outlook for 2008 looks worse than it did just two months ago, when fears of a U.S. recession already were leading analysts to predict a slowdown in purchases of computers, software and tech services.
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Africans are fast embracing  technology as a driver of economic growth but prohibitive costs  mean they will lag behind wealthier countries for many years, a  leaders forum in South Africa heard this week.
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Stocks fell on Thursday, led lower by tech shares as investors worried about the impact of a slowing economy on the outlook for profits.
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Economists are growing concerned over Americans' willingness to cede regular chunks of their paychecks to new conveniences and services, saying it is taking a bite out of discretionary spending, a key driver of the nation's economy.
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With the robust economy, tax revenues are pouring in. But rising costs lie ahead.
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Some tech groups are beginning to worry that major IT industry priorities, including patent reform, may lose out to other priorities in the U.S. Congress this year.In the last couple of weeks, large tech companies have renewed their push for patent reform legislation in the U.S. Congress, despite opposition from U.S. President George Bush&#39;s administration and some labor unions.The Computing Technology Industry Association (CompTIA) is concerned that a congressional debate over an economic stimulus package, plus typical election-year gridlock, could hurt the prospects for patent reform and other tech priorities, said Michael Wendy, a spokesman for the trade group.The House of Representatives&#39; economic stimulus package includes tax write-offs for small business purchase of equipment, which could include computers, Wendy said. That&#39;s a good move, but patent reform, a research and development tax credit, H-1B visa reform, and other issues remain undone, he said.&quot;We hope that Congress -- assuming they pass an [economic stimulus] package -- doesn&#39;t just say, &#39;Well, we gave you some favorable tax provisions that will help boost industry activity and have a long-tail effect on the economy, so that should be enough for you guys this session,&#39;&quot; Wendy said last week. &quot;One thing we&#39;re concerned about is that the economic stimulus bill may be seen by Congress as a &#39;get out of jail free&#39; card when it comes to other of our tech policy agenda.&quot;The House in September passed a patent reform bill -- supported by many large tech vendors, but&#160;opposed by several small tech companies&#160;-- but similar legislation has been stalled in the Senate. Large tech vendors, including Microsoft, IBM, and Symantec, have&#160;called for patent reform, saying it&#39;s too easy for companies with no intention of creating products to buy up patents and file multimillion-dollar infringement lawsuits against other companies.On Jan. 22, Senate Majority Leader Harry Reid, a Nevada Democrat, said patent reform was a priority, but it was in a line behind several other bills, including an economic stimulus package and a government surveillance authorization bill. The Senate would turn to patent reform, &quot;time permitting,&quot; he said then.&quot;On patent reform, we must carefully strike the right balance with a bill that promotes rather than blocks innovation from enterprising entrepreneurs,&quot; Reid added.The Senate Judiciary Committee approved its version of the Patent Reform Act on Jan. 24, and the bill is awaiting action in the full Senate.But earlier this week, the U.S. Department of Commerce sent a letter to the Senate Judiciary Committee raising concerns about the bill. The letter, outlining the Bush administration&#39;s views, focused on a section of the bill that would apportion infringement damages in a new way. Currently, courts generally consider the value of the entire product when a small piece of the product infringes a patent; the bill would allow courts to base damages only on the value of the infringing piece.The wide-ranging bill would also allow a new way to challenge patents after they are issued.That provision would &quot;create more problems than it solves,&quot; said the Commerce Department letter, signed by Nathaniel Wienecke, the agency&#39;s assistant secretary for legislative and intergovernmental affairs. &quot;The administration believes that such a dramatic change from current jurisprudence may have the unintended consequence of reducing the rewards of innovation and encouraging patent infringement,&quot; Wienecke wrote.Both sides can still work out their differences, Wienecke added.In addition, 14 labor unions, including the United Steelworkers, the Patent Office Professional Association and the Communications Workers of America, sent a letter to Senators Wednesday, saying they were concerned about the patent bill. &quot;Key parts of the proposed legislation may have the effect of increasing the likelihood of American inventions being stolen by our international competitors and, consequently, inhibiting sorely needed new investment in domestic manufacturing,&quot; the letter said.Still, some representatives of the tech industry say they&#39;re hopeful that patent reform can move forward.Senators, representatives of the Bush administration and other interested parties have been meeting regularly &quot;to find balanced solutions on all the issues,&quot; said Mark Isakowitz, spokesman for the Coalition for Patent Fairness, a group representing several large tech companies. &quot;We respectfully disagree [with the Bush administration] on damages, but we are confident ... we can work through concerns and achieve broad consensus on the bill, which would be a victory for the administration, the Congress and our economy,&quot; he added.
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U.S. technology stocks ended lower on Thursday as concerns about business spending dragged down shares of bellwethers such as Intel Corp , while caution before Friday's payrolls data limited a broader market advance.
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With recession looming, there are pitfalls and opportunities.
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Robot sales to consumers and enterprises are on the verge of exploding, according to a new study.
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Government contractors, which have been riding a wave of unprecedented growth since the Sept. 11 attacks, are starting to feel the effects of an industry-wide slowdown as the government tightens its technology spending, according to company officials and industry observers.
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SAN FRANCISCO - It&#39;s been a tough recession for tech spending and a tough summer for tech stocks. But a Texas software outfit might give investors a reason to get back in the market.
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Businesses may be spending millions on expensive security technologies aimed at thwarting data leakage and compliance violations, but many companies are still failing to sufficiently address access controls for protected information and IT systems.
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A plunge in construction spending threatens to drive the American economy into recession.
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A Forrester study finds that corporate users are becoming increasingly frustrated with the license and maintenance costs of enterprise applications.
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India's major software firms say a US economic slowdown may bring more customers seeking cost savings, but analysts warn that the once red-hot sector faces tough times in 2008.
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It's beginning to look like 2001 in the general economy, with consumers tightening their purse strings and businesses shedding jobs. But in the technology business, which suffered more than any other in the last meltdown, there are fewer signs of strain this time around.
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Spending in Eastern Europe and Asia is expected to lead a recovery in the global technology market over the next three years, according to an industry report released Tuesday.