The death spiral for the 131 year-old company, once respectfully known as Diebold, continues, as its stock price falls to a 5-year low today, near year's end (currently $29.23/share and still sinking, from a 52-week high of $54.50/share), along with the additional news that the U.S. Department of Justice has now joined the SEC in an investigation concerning the company's "Enron-like" bookkeeping tricks...
Diebold announced in early October that it has been engaged in an ongoing discussion with the SEC’s Office of the Chief Accountant regarding its former use of the "bill and hold" method of recognizing revenue.
Under bill and hold, ownership of a product contractually passes to a customer and revenue is recognized by the supplier prior to delivery of the product to the customer.
Diebold said it’s in continuing talks with the Office of the Chief Accountant so that it can determine what the company termed “the most appropriate revenue recognition method” to replace its bill and hold practice.
The BRAD BLOG, of course, originally reported on the SEC's investigation into Diebold's book-keeping chicanery back in May of 2006, just a few months after our first exclusive report, based on information from a company insider we dubbed DIEB-THROAT, preceded a 20% stock-price plunge just days afterward.
At the time, back in late September 2005, the stock price plunged to a 52-week low of about $44.37/share (which we're sure they'd kill for now --- not that we wish to give them any ideas) and DIEB-THROAT told us in response to the related news: "the last time this kind of deception occurred it was called Enron."
Then came a class action securities fraud suit against the company in December 2005, as first broken by The BRAD BLOG natch, before the parallel SEC investigation first became public.
Since then, following one independent study after another after another after another, finding their electronic voting systems to be virus-prone, hackable, unreliable and inaccurate, the company finally dumped it's controversial CEO who had infamously promised in a Republican fundraising letter that he was "committed to helping Ohio deliver its electoral votes to" George W. Bush in 2004, before attempting again to fool the American public by renaming its election division "Premiere Elections Solutions" (same pig, fresh lipstick), just after stock prices plummeted again in August of this year to $47.60 as The BRAD BLOG noticed what appeared to us, and at least one financial analyst, to be possible insider trading among a number of company officials.
Prices have continued to fall ever since --- a lucky coincidence, no doubt, for those executives who just happened to unload a bunch of stock near the year's high at $53.05 - to today's 5-year low of $29.20.
Additional bad news arrived last Friday for Diebold when a new study by the state of Ohio found their systems to be easily hackable (again), with better news coming last Tuesday as the state of Colorado's own certification tests, surprisingly, gave their their machines a pass while decertifying many others. Yesterday, however, the reason for the inexplicable get-out-of-jail card they received in CO may have become a bit clearer: As it turns out, the Republican Secretary of State who oversaw the new certification testing, Mike Coffman, is running for Congress, and his campaign shares the same consultants as Diebold/Premier in the state. Go figure.
Diebold/Premiere's spokeshole, Chris Riggall told the Rocky Mountain News in response yesterday, that the company just had no idea about the extraordinary conflict of interest. But with the mission already accomplished, he announced to the paper: "Effective tonight that relationship is terminated."
With their stock-price still spiraling this morning, Diebold is quoted by Crain's Cleveland Business today as saying the company "anticipates [the DoJ] review will be completed in the first quarter of 2008" ... Though rest assured, The BRAD BLOG's review of the company won't be completed by then. Not by a long shot.
Merry Christmas, Diebold!

Just Like Shirley Sherrod, Van Jones and ACORN
WHAT IRS 'MISCONDUCT'?
The Federal Deficit Has All But Disappeared
'Green News Report' 5/16/13
Holder: 'Banks Are NOT too Big To Jail'
Repubs Suddenly Care About Big Government Overreach?!
'Green News Report' 5/14/13
KPFK 'BradCast': CO2 Madness, Obama Scandalpalooza
More Vote-by-Mail Fail, This Time in L.A.
'Weapons-Grade Denial' from Wall Street Journal
INTERNET VOTING 'HACKED' ON NBC'S 'THE VOICE'
Dancing Everywhere on Earth
Singing Bowie in Outer Space
'White Boys' Bring Election Woes to Riverbank, CA
Jon Stewart Explains the GOP Benghazi 'Scandal' For You
'Green News Report' 5/9/13
KPFK 'BradCast': On SC's Unverifiable Election and Syria's Unverified Chemical Weapon Use
Unverifiable 'LANDSLIDE' in South Carolina!
Report: Syrian Rebels, Not Regime, Used Sarin Nerve Gas
Wrong and Wronger on CO Election Bill
R.I. Governor Signs Marriage Equality Bill
Obama Gitmo Deception: KPFK 'BradCast'
Former Justice O'Connor: 'Maybe' Bush v. Gore a Mistake
John Kerry Demands Hand-Count...for Venezuela(!)
Exclusive: L.A. Registrar Says 'No' to Internet Voting, But...
Fox 'News' Star, SCOTUS Justice Yuck It Up at Dinner
KPFK 'BradCast': Live Report from West, TX Explosion
FLASH CRASH: Stock Exchanges Loses $136 Billion on Hacked 'News' from AP
Bi-Partisan Report Finds Bush Admin Torture After 9/11
'Arc of History': RI Repubs, NV Senate Both Approve Marriage Equality
VA GOP VOTER REG FRAUDSTER OFF HOOK
Criminal GOP Voter Registration Fraud Probe Expanding in VA
DOJ PROBE SOUGHT AFTER VA ARREST
Arrest in VA: GOP Voter Reg Scandal Widens
ALL TOGETHER: ROVE, SPROUL, KOCHS, RNC
LATimes: RNC's 'Fired' Sproul Working for Repubs in 'as Many as 30 States'
'Fired' Sproul Group 'Cloned', Still Working for Republicans in At Least 10 States
FINALLY: FOX ON GOP REG FRAUD SCANDAL
COLORADO FOLLOWS FLORIDA WITH GOP CRIMINAL INVESTIGATION
CRIMINAL PROBE LAUNCHED INTO GOP VOTER REGISTRATION FRAUD SCANDAL IN FL
Brad Breaks PA Photo ID & GOP Registration Fraud Scandal News on Hartmann TV
CAUGHT ON TAPE: COORDINATED NATIONWIDE GOP VOTER REG SCAM
CRIMINAL ELECTION FRAUD COMPLAINT FILED AGAINST GOP 'FRAUD' FIRM
RICK SCOTT GETS ROLLED IN GOP REGISTRATION FRAUD SCANDAL
VIDEO: Brad Breaks GOP Reg Fraud Scandal on Hartmann TV
RNC FIRES NATIONAL VOTER REGISTRATION FIRM FOR FRAUD
EXCLUSIVE: Intvw w/ FL Official Who First Discovered GOP Reg Fraud
GOP REGISTRATION FRAUD FOUND IN FL
It Isn't Journalism: Woeful MSM Coverage of Wisconsin's Supreme Court Election 'Recount'














Newly
Guest Blogged by John Gideon of
The Republican Party's effort to unilaterally award itself 20 or so of California's 55 Electoral College votes in next year's Presidential Election has failed to reach its fundraising goals for a second time,
A
Now that ES&S has finally submitted their
Things are really expensive in Marin County, California. For example, the cost to the county, so far, for each vote cast on their brand-new AutoMARK touch-screen voting machines has been $45,588.23.
"San Francisco's experience with ES&S raises extremely troubling questions, not simply about the integrity of this company's technology, but about the integrity of this company itself," San Francisco's City Attorney Dennis Herrera said today in announcing his new lawsuit against Elections Systems & Software, Inc. (ES&S).
California Sec. of State Debra Bowen has announced a $15 million lawsuit against voting machine company ES&S for their use of uncertified AutoMARK voting systems in the state.
Of course, the dirty trickster Republicans, who are again attempting to put an
Gov. Arnold Schwarzenegger
After months of being told over and over by Rep. Rush Holt's (D-NJ) office, People for the American Way (PFAW), and many of the other most ardent supporters of Holt's flawed Election Reform Bill (
All the while, 














