Chris Barbin, CEO of appirio, has a post on his blog - Short the Global SIs.
appirio is one of the new generation of SaaS/cloud systems integrators with considerable salesforce and Google Apps experience.
Chris is right - the big SIs have done little in the SaaS/cloud space. Most SaaS vendors are having better luck with players like appirio or reseller channels. And IBM's Software group is partnering with amazon for clouds rather than its own outsourcing group.
Even on-premise software vendors are increasingly willing to take on their SI partners.
Update: Phil Wainewright writes - Shafting the Global SIs.
Knowing Phil as a fellow EI, I am pretty certain he is just referring to a golf term :)