The problem is you aren't thinking the thing all the way through.

The question that follows is "Why do you need to control your asseets?"

The answer being "So you can ensure they don't go down"

Then the question becomes "can you use cloud computing and be sure your server won't go down?"

The answer "Yes, you just have to have redundancy (the kind you'd get by having a second provider like Rackspace host a redundant fail-safe server)"

So really "control" doesn't matter because thinking the train of thought all the way through leads you right back to the central theme of the article: Cost

If Amazon + some kind of redundancy is still cheaper for your company than cloud computing might be for you.