Business Sections Confirms our 'Inside Source' at Diebold
Compares Troubled Company Again to Enron...
By Brad Friedman on 9/26/2005, 12:22pm PT  

In a story about Diebold, Inc. continuing trouble the Cleveland Plain Dealer's business section reports that the Ohio-based company "lost almost a fifth of its share value last week." (Trading of DBD continues flat again today with shares off some .50% on the day.)

As well as comparing the company's restructuring to the failed strategies at Enron, reporter Alison Grant picked up on BRAD BLOG's Exclusive story of the Insider we refer to as DIEB-THROAT:

The news about troubles at Diebold also hit online opinion sites where voting-rights groups long have criticized what they say are security problems in Diebold's voting equipment.

U.S. Newswire carried a release saying that a whistle-blower, "Dieb-Throat," was spilling the beans on practices at the company.

The insider, when contacted by a reporter, described a company groping to get its voting-equipment business stabilized after a series of equipment malfunctions and sales setbacks.

"We have no response to that kind of nonsense," [Diebold spokesman Mike] Jacobsen said.

Diebold shares closed Friday at $36.15, down 18.5 percent from Tuesday's close.

Apparently, Diebold has no response to all sorts of "nonsense." Like a branch of the U.S. Dept. of Homeland Security sending out a Cyber Alert Bulletin prior to last year's November Election warning that Diebold's central vote tabulator was open to any malicious user who might wish to change the results of an election. Diebold failed, apparently, to offer a security upgrade even after that Alert was issued, and to this day acknowledges it as no more than an "unproven allegation."

Failure to respond to such "nonsense" seems to be costing the company dearly. And more trouble, our so-far very reliable inside sources tell The BRAD BLOG, is soon on its way...