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Bloomberg: Investors Pulling out of Diebold.

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fearnobush Donating Member (1000+ posts) Send PM | Profile | Ignore Sat May-22-04 04:22 PM
Original message
Bloomberg: Investors Pulling out of Diebold.
This is an excellent artical, do check it out.

<snip>

`Civil Rights'

Kerry likened Diebold's involvement in elections to discriminatory laws that disenfranchised minority voters before the advent of the civil rights movement in the 1960s.

``Let me make it clear, we're the Democratic Party that stands up for civil rights,'' Kerry said. ``We didn't break the back of Jim Crow to have the Republicans give us JimCrow.com. In 2004, we will make sure that every vote is counted and we will win.''


<snip>

O'Dell declined to respond to Kerry's criticism, other than to say he would no longer raise money for Bush or contribute to the president's reelection campaign.

O'Dell sent a fundraising letter in August 2003 that said he was ``committed to helping Ohio deliver its electoral votes to the president next year.'' With 20 electoral votes, Ohio is one of the most contested states in the race, political scientists say.



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Diebold's Voting Machine Expansion Rattles Investors, States

May 21 (Bloomberg) -- Diebold Inc. Chief Executive Officer Walden O'Dell says his company won't stop making voting machines, even though states challenge their reliability and investors say there's too little profit in the effort.

Under O'Dell, 58, Diebold has become the largest maker of touch-screen voting machines, a venture that has gained the 149- year-old company notoriety O'Dell says he would have preferred to avoid. O'Dell stopped raising money for George W. Bush's re- election campaign after Democratic candidate John Kerry complained in October that O'Dell was a Bush fund raiser.

In California, Secretary of State Kevin Shelley banned use of the newest Diebold voting machines in April. Machines in three counties didn't work properly, causing delays at polling places and wrong ballots to be used by some voters, Shelley said. More than 20 states say they might require voting machines like Diebold's to be redesigned to create a paper receipt.

``We walked into a minefield and maybe made some mistakes along the way,'' says O'Dell, who wears a tie dotted with American flags. ``Our heart and soul and energy are all in the right place here.''

Don Taylor, who manages $1.8 billion in the Franklin Rising Dividends Fund, says he wishes that North Canton, Ohio-based Diebold would stick to making automated teller machines and safes.

The voting-machine unit was the worst performing of any of Diebold's three divisions last year. Sales of voting machines fell 9.7 percent, the company reported in January. Profit from voting machines dropped 32 percent to $6.4 million. It was the only Diebold unit reporting declines. Diebold has had average annual revenue growth of 31 percent over the past five years.

`Sell the Business'

Much more:

<http://quote.bloomberg.com/apps/news?pid=10000176&sid=alE76fVHoxr8&refer=us_elec>


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vickie Donating Member (663 posts) Send PM | Profile | Ignore Sat May-22-04 04:26 PM
Response to Original message
1. How very frightening this is.
Good for Kerry for speaking out. I love the use of the phrase 'jimcrow.com'. It's awesome symbolism.

It reminds people that although discrimination has been outlawed, there are still institutional elements where it can prevail. The tentacles of the Bushes have to be severed - lest none of us are free....

Vickie Carter
Redondo Beach, California
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AndyTiedye Donating Member (1000+ posts) Send PM | Profile | Ignore Sat May-22-04 04:50 PM
Response to Reply #1
3. They are not Making Voting Machinez for the Money
They want to Help America Vote Republican.

Does somebody have a larger/higher-res image of one
of the Diebold machinez? I want to make some posters.



ALL YOUR VOTE ARE BELONG TO US!
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unblock Donating Member (1000+ posts) Send PM | Profile | Ignore Sat May-22-04 04:42 PM
Response to Original message
2. ooh, lookie, diebold's ceo will no longer raise funds or donate to bush
awful damn noble of him, now that he and all his buddies have reached the federal limit on political contributions....
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Democat Donating Member (1000+ posts) Send PM | Profile | Ignore Sat May-22-04 08:01 PM
Response to Original message
4. They almost give the machines away why? Because it's about helping Bush!
Why would a big company give away voting machines for near cost? So that they can control who votes and how they vote. They will make a lot more money by helping Bush win than they will on the machines.

He's going to stop donating to Bush's campaign now? Has he reached the maximum limit already? Is he going to take the money back that he donated already?

Also, does he plan to stop pumping money into other pro-Bush or anti-Kerry groups? Doubtful.

Diebold might as well be part of the Republican party.
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