BREAKING: SEC INVESTIGATION OF DIEBOLD UNDER WAY!

[BradBlog]

BREAKING: SEC INVESTIGATION OF DIEBOLD UNDER WAY!
U.S. Securities and Exchange Commission Announces 'Informal Inquiry' into Accounting Practices of ATM, E-Voting Giant!
Inquiry Comes on Heels of Recent Securities Fraud Class Action Litigation, Sharp Drop in Stock Value, Growing List of Security Vulnerabilities Discovered in Company's Electronic Voting Machines...

Just out from Reuters...

NEW YORK, May 9 (Reuters) - Diebold Inc. (DBD.N), one of the world's largest makers of automated teller and electronic voting machines, on Tuesday said staff at the U.S. Securities and Exchange Commission have begun an informal inquiry into how the company recognizes revenue.

North Canton, Ohio-based Diebold said it learned recently about the SEC inquiry and is cooperating. The company disclosed the inquiry in its quarterly report filed with the agency.

The investigation of Diebold by the SEC, which we had heard previously about through background sources over the past several months, comes on the heels of a class action Securities Fraud litigation suit, originally reported exclusively by The BRAD BLOG just before it was filed last December.

That suit came on the heels of a growing number of reports on the reliability and vulnerability of Diebold's electronic voting machines and concerns about their larger ATM division including a stunning revelation reported last Friday describing a newly discovered problem described as a "major national security threat"...

COMPLETE STORY:
http://www.bradblog.com/archives/00002803.htm

---
Brad Friedman
THE BRAD BLOG - The uprising continues...
http://www.BradBlog.com
VELVET REVOLUTION - The revolution begins...
http://www.VelvetRevolution.us

[AX10]

1. K&R my friends, rate this one up!

:bounce:

[valerief]

2. I vote lock 'em up! n/t

[RUMMYisFROSTED]

13. But it says "Free them!"

Let's go to the record...

0010000110100011100010010100011010111110111011111000111011101110


Yep. It say's "Free them!"

[panader0]

3. Question-- Aren't the folks on the SEC all Bushbots?

Didn't they bail him out long ago? (Harken and Aloha Oil?)

[Turbineguy]

16. "We were investigated

by the SEC and cleared!"

You can't get more honest than that.

[xxqqqzme]

25. since raisin brain appointed

corporate friendly christopher cox, I'd say yes!

[Dora]

36. My husband encountered the SEC.

He described the SEC lawyers as courteous and canny. This was in 1999.

[biscotti]

4. Hooray!

Thanks for staying so close and on top of this.

[Fridays Child]

5. k/r

[texasleo]

6. nail them to the wall

[stevedeshazer]

7. How long before Bushco fires the head of the SEC?

That'll be next week's story, friends.

[stillcool]

8. I hope the Aspens are turning....

on this one! Did somebody turn up the heat in here? :kick:

[Mnemosyne]

9. 5 min's, 10 rcmd! Thanks Brad! n/t

[Canuckistanian]

10. They probably failed to properly report all those kickbacks

Good for the SEC! Now, let's get those books cracked open and see where the money flows.

[BrotherBuzz]

19. Al Capone busted for tax evasion

You know what I mean, Vern?

[Bjornsdotter]

11. K & R n/t

[babylonsister]

12. I hope they can move faster on this than they have with Frist. nt

[xchrom]

14. mmmmwwwwaaahahahahhahahaha!

this is SO good!

may their little asses fry!

[poverlay]

15. Excellent, simply excellent... k & r thanks n/t

[brentspeak]

17. Good grief, Brad Blog has zero credibility

This guy is STILL citing Bev Harris the scammer as one of his primary sources. The link to the "complete story" refers to Harris' BBV site for further information. Brad Blog is apparently just using DU LBN as "Hey, look at me!" platform.

[Robbien]

20. Reuters also has a story

http://today.reuters.com/investing/financeArticle.aspx?type=governmentFilingsNews&storyID=2006-05-09T212944Z_01_N09347385_RTRIDST_0_FINANCIAL-DIEBOLD-SEC-URGENT.XML
Diebold faces informal SEC inquiry

[brentspeak]

22. I know it's a Reuters story, but that's not the point

(Besides the fact that Brad Blog violated LBN rules by not providing that Reuters link on his post here) In the link to his own site, which uses that portion of the Reuters story as part of his own article, Brad Blog goes on to tout the ongoing "investigations" by Bev Harris' organization, with whom he has close ties with.

The topics of electoral reform and Diebold deserve not to be made laughable (and thereby, undercut) by the involvement of known charlatans.

[Name removed]

42. Deleted message

Message removed by moderator. Click here to review the message board rules.

[Kelvin Mace]

51. I read the news story

and the issue under investigation has nothing to do with Bev or her actions.

[Judi Lynn]

23. Thanks for finding it. Oh, ha, ha, ha, ha, ha. Yuk. Yuk. Great timing.

I'd imagine Brad Blog is probably on track. Very glad to see your link.

[WillYourVoteBCounted]

41. mistake

hit button in error

[Name removed]

29. Deleted message

Message removed by moderator. Click here to review the message board rules.

[kster]

32. Well said

:thumbsup:

[Name removed]

35. Deleted message

Message removed by moderator. Click here to review the message board rules.

[Name removed]

39. Deleted message

Message removed by moderator. Click here to review the message board rules.

[KaryninMiami]

50. Seems like you've spent a lot of time attempting to discredit BradBlog

Considering he is one of the most credible investigative reporters we have, I'm wondering if this is the best use of your time. Truth-telling and breaking stories, many of which have monumental impact on all of us, is not a "clever stick", Mr. brentspeak. Not only are his reports well researched and fact checked, but his commitment to protecting our constitution and saving our democracy is something we should all be grateful for. I find it interesting (and pretty pathetic, frankly), that you would accuse someone has spent more time researching and reporting on election fraud stories then any reporter in the country, "trivializing" the issue. What exactly are you doing to help us restore credible elections?


Not sure if you noticed by the way, but BradBlog stories often- very often- wind up on the home page at DU. Almost every time he posts at DU he receives numerous accolades and notes of gratitude. Could that be perhaps that this is because his excellent reporting is appreciated by the DU community?

Did you take the time to actually "fact check" your own comments? Obviously not. I think you might want to consider spending a bit more time researching your own "shtick" before insulting one of the most important voices we have, Mr. Brentspeak. Then, do what many of us do when an important story breaks on BradBlog which is then reported on here at DU, say thank you.

[wordpix2]

37. thanks for your report Brad. Keep reporting to DU. K&R

[flyingobject]

54. DU Statement on the Bev Harris situation

Over the past two years Bev Harris has received a great deal
of support from the members of Democratic Underground, in her research,
publicity efforts, and fundraising.
In return we have played host to an 18 month-long squabble between Ms. Harris
and other verified voting activists, and
have even been threatened with lawuits by Ms. Harris herself.

Despite this, we have publicly remained mostly silent on the verified voting squabbles.

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=203x108750

[katty]

18. Fantastic! Way Over due!!

[Independent_Liberal]

21. K&R!

I'm ready for Enron II!

:)

[Patsy Stone]

24. Ahhhh.

It is good. K&R. Thanks, Brad!

[dipsydoodle]

26. The key expression appears to be :

" how the company recognizes revenue. "

That implies they may be bringing forward revenues from licence agreements whatever.

It was a similar investigation that screwed one particular IT company 6 years ago although I believe they've recovered now.
See : http://money.cnn.com/2000/04/13/technology/microstrategy/ Please read right down to last line !

It had a rub on affect on share values for most of that industry.

[stepnw1f]

27. Does an "Informal Inquiry" Go Far?

I am ignorant when it comes to legal verbage. Somebody please answer me.

[0007]

28. Finally!

[babsbunny]

30. God has heard my prayers!

[C_U_L8R]

31. If they are crooks with their product

then you can bet they are crooks with their stockholders.

Whoever is CEO of that POS should be keelhauled.

® Yet another shining example of Republican malfeasance.

[Vadem]

33. From your mouth to G_d's ear! Please, Please!!!! ......n/t

[Mr_Spock]

34. Is this going to be good - or just a formality?

I've read my share of Diebold stories - are they going to get in trouble for real this time?

[BradBlog]

40. Dunno, Mr_Spock...

Hard to say, but the SEC doesn't need to investigate anything they don't want to. So with that, the SEcurities Fraud litigation suit (some 10 of them now filed actually), and a new suit to come against Diebold machines in AZ tomorrow, I do believe Diebold is in a world of hurt right now.

As well they should be, given their demonstrated and continuing disregard for American democracy.

[Mr_Spock]

45. I'm sure hoping so.

I would have never ever imagined the CEO of a vote tallying machine company saying he was going to ensure a certain outcome, then having it happen as predicted - and getting away with it!!

I hope they get those bastards.

[The Backlash Cometh]

38. Cabbage patch, cabbage patch. cahhbage PATCH!!

[ediedidcare]

43. what about PROMIS software?

What about P-Tech? What about this real time monitoring software that enables the user the penetrate any
secure network- undetected- and do anything the user desires.

This software is widely distributed among all the top government agencies and is so dangerous I can hardly sleep at night.

[ediedidcare]

44. STOP AND THINK - PROMIS/P-TECH

Look into this people!!!


I believe the point person on this Indira Singh - One of my new heros.
My other hero is Oreo Palmer- look it up...

[Rainscents]

46. Brad, don't you thik, SEC is doing this because of stock-holder might

be pressuring them to do it? I believe, stock-holders has been very vocal.

[Hubert Flottz]

47. HELP ESS HELP ESS HELPPPPPPPPPPPPPPPPPP!

The damned things didn't work in several counties in West Virginia yesterday and ESS sez they can have them fixed good as new by November, if we will just trust them...More at 11...

[Demeter]

48. It's Not Their Accounting Practices That Worry Me

It's the design and execution of the design of their products.

[Truthy Nessy]

49. Great news and its personal

My partner is from Ohio. Last presidential election my partner and partner's best friend voted for the first time in years in a presidential election. Kerry looked like a sure thing. It was quite a shock to find Ohio went to Bush. We all believed that the election was stolen and the machines taken over. the county was so obviously pro Kerry but the votes turned out Bush! Maybe justice will be served. :patriot:

[sonias]

52. Finally something they can actually be brought down for

Let's hope.


Sonia

[flyingobject]

53. stock price today

05/09/06 o/h/l/c = 45.43 45.44 44.60 44.91 -0.55 vol = 552000

NEW YORK, May 9 (Reuters) - Diebold Inc. (DBD.N: Quote, Profile, Research), one of the world's largest makers of automated teller and electronic voting machines, on Tuesday said staff at the U.S. Securities and Exchange Commission have begun an informal inquiry into how the company recognizes revenue.

North Canton, Ohio-based Diebold said it learned recently about the SEC inquiry and is cooperating. The company disclosed the inquiry in its quarterly report filed with the agency.
http://www2.barchart.com/news.asp?sym=DBD