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Iceland's biggest IT company CCP is what the island needs to leave its economic crisis behind. It is global, growing and employs hundreds but its tale is also one of frustration that echoes concerns about the country's future.

Penney CEO Ron Johnson has said the retailer had too many legacy systems that were all customized and so came with expensive maintenance costs. The outsourcing move is one of the cost-saving decisions that Johnson is implementing with the goal of coming up with $900 million in annual expense cuts. Those cuts are paying for Penney’s transformation into “America’s favorite store.” Penney employees will run Oracle’s software and it no longer will need as many IT people as it did to run and update its legacy systems.

Dell reported a 5% drop in fourth-quarter earnings Thursday, but the computer maker beat Wall Street's expectations on solid sales across all its segments as businesses started spending on IT again.