Thursday, December 15, 2005

Financial Industry Sours on Diebold

Ha! This is great. I love it when the corporate world feeds on itself. There is nothing new about it, but it's always fun to watch.

The UnCap Journal is reporting that some in the financial industry are smelling carrion and are advising investors of a short sell opportunity. Agora Financial has sent out a **Flash Sell Alert** regarding shorting Diebold stock after recent and higly unflattering news items popped up about the company. After CEO O'Dell resigned on the heels of an investigation begun to look at possible securities fraud and insider trading, Finnish security expert Hari Hursta had demonstrated, quite clearly, how easily the memory cards of Diebold machines can be hacked. And what that demonstration did was to expose Diebold officials as liars, for they had told the State Department that what Hursti did was not at all possible. It turns out that, not only was it possible, it was bloody easy to do.

Diebold's days look numbered and the financial industry can smell it.

The Agora email alert is well worth reading, so check it out.


Blogger The Misanthrope said...

Thank goodness. Diebold deserves to go down, but I do feel bad for its employees.

1:51 PM  

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