Cisco CFO Dennis Powell, who plans to retire Friday will Tuesday ring the Nasdaq opening bell, along with his replacement Cisco Senior Vice President Frank Calderoni. Cue the usual photo opp of some suited execs beaming from the atop the Nasdaq trading floor and more photos of more suited execs outside Nasdaq MarketSite at 4 Times Square in New York. According to Nasdaq, the ceremony is “used to mark important corporate milestones from Nasdaq listed companies and for other celebratory occasions,” such as the release of the final Harry Potter book last July, when execs from Scholastic rang the bell. It’s great that Powell gets a chance to ring the bell as he contemplates retiring on his retirement nest egg of at least $64 million; too bad the timing is a little off. Cisco’s gloomy outlook delivered during its Q2 earnings report last week has launched a thousand articles and blog postings that a recession is very likely.
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