IBM makes a lot of money selling ELAs (Enterprise License Agreements) to their customers.  An ELA is like buying a bundle of IBM hardware, software and services.  It&#x27;s like buffet dining.<p>Big companies are no longer buying the buffet and are increasingly opting to go ala carte.  Or alternatively, they are negotiating IBM down on prices for the buffet.<p>It&#x27;s true that IBM is switching its focus to Cloud services and Watson.  However, these are just new, unproven items on the buffet menu.