This according to a ComputerWorld story on a CIO survey (via a Billy Marshall article on Sandhill.com) conducted by our friends at Goldman “no subprime on me” Sachs.  Lots of discussion around reducing consulting and hardware as well as targeting headcount among IT staff positions. 

“It also showed that CIOs planned to emphasize economizing measures over
investments in new technologies, with cloud computing emerging as the
last item on their priority lists, despite the hype around it.
“

Virtualization and server consolidation top the list with application integration on the list as well. 

I’m guessing that “cloud computing” on its own is not at the top of the list because it is more of a “how” vs. a “what.”  Also interesting that things like virtualization rank so high which a non-techie like me would include in the cloud computing category.  Read Billy’s take and reference the post I wrote on consuming software for some additional perspective on this.