2008 was a huge year for Cisco in terms of product transitions, strategic initiatives and business imperatives against the backdrop of a global economic recession. The following is a lineup of key events for the company as it closes out one of the most eventful years in its history.

10. Cisco shutting down between the holidays. This is how bad it is: One of the most envied companies in high-tech -- one that many kiddingly say prints its own money -- closes for a week to save costs. Cisco's decision not only reflects how brittle things are but also what to expect heading into 2009. The decision marks the first time in the company's history that it will shut down to save costs -- Cisco and every other company in The Valley would traditionally close the week between Christmas and New Year's in the 1980s.

9. Cisco to video-optimize networks. Cisco unveils a blade to process video traffic by acting as a translator between different formats, among other tasks. The Media Experience Engine 3000 transcodes a single source of content so that it is playable on any device, such as an IPTV, digital sign, PC or mobile. It also ushers in Cisco's "medianet" strategy to construct business networks from these and other blades optimized for video.

8. Cisco promises wireless, video extravaganza at the new Yankee Stadium. Cisco wins a showcase account with the New York Yankees and will build an "immersive" video network of 1,100 high-definition screens in the new stadium. The monitors will provide various views, angles and information on the game -- before, during and after. Cisco says it will be the most technologically advanced stadium in the country, ultimately allowing fans with mobile devices to view the game from different angles around the stadium, launch instant replays, access statistics specific to the game situation, and interact with other fans in a community. So much for the game.

7. Procter & Gamble cites progress, challenges with Cisco TelePresence. Consumer products giant P&G is looking to become the most collaborative company in the world. Life-size, virtual presence is one way to achieve that, P&G believes. The company provides some insights, good and bad, into technology Cisco believes will change not only the business experience, but the human one as well.