DIEBOLD CEO RESIGNS after reports of alleged securities fraud!!!

[kpete]

Diebold CEO resigns after reports of
alleged securities fraud... Developing...
http://www.rawstory.com/

I will post more as I get it - Stay tuned cube rats....

UPDATE:
Diebold CEO resigns after reports of fraud litigation, internal woes
John Byrne

The chief executive officer of voting rights company Diebold who once famously declared that he would "deliver" Ohio for President Bush has resigned effectively immediately, RAW STORY has learned.

O'Dell's resignation comes just after reports from BradBlog.com that the company is facing imminent securities fraud litigation surrounding charges of insider trading.

It also comes just days after RAW STORY revealed new allegations of technical woes inside the company, as well as allegations by a Diebold insider who suspects wrongdoing in elections in Georgia and Ohio.
http://rawstory.com/news/2005/Diebold_CEO_resigns_after_reports_of_1212.html

[texpatriot2004]

1. Live FREE or Diebold. Diebold LIES. Recommended. nm

[malaise]

6. Too cool

recommended!

[SpiralHawk]

2. biggie

k & r

[elehhhhna]

3. 3rd rec.

[mattclearing]

4. "Voting Rights Company" ???

:wtf:

But seriously, nice to see that Wally O'Dell will get his time behind bars.

[mikelewis]

27. It's sort of like calling the KKK a racial harmony organization...

[babylonsister]

5. And #5. I wonder what provoked the immediacy? Hmmm... nt

[Prisoner_Number_Six]

7. Well it's about fucking time something like this happened.

I've been wondering where all the BBV threads have disappeared to since Bev H. turned out to be a fraud. Now perhaps some genuine progress will be made.

Perhaps, but at this point I'm a real cynic about this. I'll believe it when I see it.

[Botany]

8. Chickens coming home to roost?

[Double T]

9. ....how about the alleged VOTING MACHINE FRAUD.......

I guess that doesn't count??

[KittyWampus]

31. that didn't negatively effect the Investment Class Like Security Fraud

[me b zola]

45. Actually, they benifited

[acmavm]

10. At this rate there won't be a prominent repuke on this side of the cell

bars. And that's probably the way it should be.

[kpete]

11. from Bradblog

DIEBOLD CEO WALDEN O'DELL RESIGNS!
Controversial, Partisan Head of Voting Machine Company Steps Down Citing 'Personal Reasons'
Fraud Securities Litigation -- as previously reported in a BRAD BLOG Exclusive -- is Imminent!


Diebold, Inc. (stock symbol: DBD) CEO Walden O'Dell has resigned due to what company officials describe in a press release as "personal reasons". Reuters is reporting that O'Dell will be replaced by the company's president and chief operating officer, Thomas Swidarski.

As The BRAD BLOG reported exclusively late last last week, the filing of a securities fraud class action litigation against the company, O'Dell and other current and former members of their Board of Directors is now imminent. The BRAD BLOG has learned that the case may be filed in Ohio Federal District court as early as today or tomorrow. We will, of course, have more details when that occurs.

O'Dell has faced a great deal of criticism for his statement to Republican fundraisers, prior to the 2004 Presidential Election, that Diebold was committed to delivering the electoral vote of the state of Ohio to George W. Bush. O'Dell was part of Bush's "Rangers and Pioneers," a group of individuals who had raised at least $100,000 each for Bush/Cheney's 2004 re-election campaign.

In the wake of the controversy concerning O'Dell's involvement with the Bush/Cheney campaign, a corporate policy was instituted to disallow involvement in political campaign by senior executives at the company. A report in the Cleveland Plain-Dealer late last week, however, revealed that several Diebold executives had continued to donate to GOP campaigns even after the policy was enacted.

Diebold, along with Election Systems & Software, Inc. (ES&S) are the two largest Voting Machine Companies in America. Between them, they account for equipment which tallies more than 80% of America's votes.

The North Canton, Ohio-based company has faced several recent financial and upper-level management problems. A recent plummet of 15.5% in the once-venerable company's stock price occurred just days after another BRAD BLOG exclusive in which we reported on a company insider, dubbed "DIEB-THROAT", who had drawn comparisons in the companies management to the now-bankrupt Enron.

http://www.Bradblog.com/

[MelissaB]

12. Gotta do it

[mod mom]

13. Must have been the curse I put on him as I drove by his house last

week. My son's best friend lives down the street from O'Dell and my husband and I sent some major hexes his way as we drove by!

[Maat]

34. Good job! (n/t)

[FreedomAngel82]

41. I usually don't advocate negative feelings to someone else

but hey, maybe it's just karma.

[mod mom]

43. Just trying to save democracy, that's all.

;)

[chat_noir]

14. Associated Press has the story

Diebold chief resigns

The chief executive of automated-teller and voting machine maker Diebold Inc. resigned on Monday after the board of directors pushed him to quit the company whose electronic voting business has come under fire.

The resignation from 60-year-old Walden W. O'Dell is effective immediately, the company said in a statement.

"The board of directors and Wally mutually agreed that his decision to resign at this time for personal reasons was in the best interest of all parties," said John Lauer, Diebold's nonexecutive chairman of the board.

...

Diebold, whose main business is making ATMs and security systems, ventured into e-voting after the Florida punch-card debacle of 2000.

But the company faced challenges in the e-voting business - from concerns from California's top election official and others about the machines' security and reliability to controversy about O'Dell's support of President Bush.


http://www.dfw.com/mld/dfw/business/13391372.htm

[kpete]

16. Thanks chat_noir

[Catherine Vincent]

15. This is big news!

Recommended!

[happydreams]

25. It is big news.

It's great news. You know some foul stuff is going on when a CEO resigns this quick. O'Dell knows that what Diebold was up to amounts to treason.

[dapper]

17. With his qualifications, he would be a shoe in....

for a job in the Bush Administration. In fact, he will fit right in with the rest of the sleeze!

Dap

[doublethink]

18. Welcome to DU dapper !

and a :toast: to bringing any and everyone down involved with this administration ..... Diebold included!

[shraby]

19. In other words, the head of the election

machines used country-wide is a crook.

[Al-CIAda]

28. Felon..or 'suspected...unlike many in the e-voting racket who are

CONVICTED felons. Yes, those in charge of the vote are ptentially not allowed to vote themselves.

This country is sick.
Thanks as always BBlog & Rawstory.

[eppur_se_muova]

20. WOOHOO! DIE LIEBALD DIE!!

"For personal reasons" = "They're gonna throw my personal ass in jail and I personally don't wanna go"

:woohoo:

:bugger this mofo:

[Stephanie]

21. Does this open the company up to discovery?

Can we get ALL the memos? Source code? Depose everyone?

[ailsagirl]

22. Here's a link from businessweek.com

http://www.businessweek.com/ap/financialnews/D8EEVLCG0.htm?campaign_id=apn_tech_down&chan=tc

[Justice Is Comin]

23. Uh huh, and who was it that was chiding me

when I said it was the beginning of the end after I saw the news about the class action suit. I said fear would be "running rampant in the heirarchy." And :woohoo:

This is the beginning of the beginnning of the end. Congratulations Brad. Let's start those depositions buddy.

[loudsue]

24. THERE IS A GOD!!!

:bounce: This is GREAT news!! :bounce:

Now, all we need to do is get electronic voting machines OUT of elections.

:kick::kick::kick:

[happydreams]

26. Is O'Dell a Biblical or Christian Reconstructionist??

I'll bet he is. These loonies want to replace the Constitution ("it's only a goddamn piece of paper") with Biblical Law.

[FreedomAngel82]

42. It's all about money

[annabanana]

29. good. . .. . . n/t

[kpete]

30. Can't wait!!!

The BRAD BLOG has been told there will be details on the litigation within the next 24 hours. We will, of course, report all such developments once they are confirmed.

http://www.bradblog.com/archives/00002149.htm

[nicknameless]

32. We've got to start somewhere. Election fraud charges will

hopefully soon follow.

K&R

[sonias]

33. I hope they send Wally to jail

He's partly responsible for the theft of this country and should pay for it with jail time. Securities fraud is serious business Wally boy!

Sonia

[FogerRox]

35. Im just in tears about Wally--- poor boy-- >snif

[Wordie]

36. On a related note the most searched word definition over the last year was

"integrity." (Merriam Webster) (Heard on CNN this afternoon.)
Article about it here: http://www.cnn.com/2005/US/12/10/top.word.ap.ap/

...But topping the list is a word that some say gives insight into the country's collective concern about its values: Integrity.

The noun, formally defined as a "firm adherence to a code" and "incorruptibility," has always been a popular one on the Springfield-based company's Web site, said Merriam-Webster president John Morse. But this year, the true meaning of integrity seemed to be of extraordinary concern. About 200,000 people sought its definition online.

"I think the American people have isolated a very important issue for our society to be dealing with," Morse said. "The entire list gives us an interesting window that opens up into what people are thinking about in their lives."

Ralph Whitehead, a journalism professor at the University of Massachusetts, said it may indicate the continuing discussion about American values and morality, or perhaps that integrity itself is becoming scarce so its definition is unfamiliar.

Maybe the American citizenry will connect the dots and realize that integrity is the very thing we must demand of those involved with our voting system. I hope they will. This guy clearly hasn't got it.

[Independent_Liberal]

37. Wally O'Dell. The next Ken Lay?

We'll know soon enough.

:)

[ClayZ]

38. Harvest!

Whoo Hooo! ! ! ! ! :woohoo:

[Usrename]

39. This is too good to be true! n/t

:kick:

[FreedomAngel82]

40. Wow

So I wonder if he'll spill the beans now?? Or what will happen next? This is big news! He wouldn't resign unless there is some reason!

[Miss Chybil]

44. Oh what a tangled web we weave... nt

[eppur_se_muova]

46. Why now? Answer: losing money (unpardonable sin)

Note that Diebold's BIG business is in ATM's, cash registers, and the like. The foray into voting machines was probably O'Dell's personal baby, and now the rest of the board is reacting to the decline in their company's reputation and profitability. They had a perfectly well-run company, as far as can be told, until their "visionary" leader decided to head off on a tangent, and a crooked tangent, at that. O'Dell may be indicted for securities fraud, and even election fraud conspiracy, but he has already been sentenced for desecrating the sacred bottom line.

A company's most valuable asset is it's "brand", its ability to keep itself distinguishable from its competition in some positive way. Sullying the brand is screwing the pooch.

[Xenotime]

47. Typical * supporter

[Lex]

48. kick

:kick: