SEC subpoenas voting machine maker Diebold

[kpete]

SEC subpoenas voting machine maker Diebold
Diebold, in a formal SEC inquiry, is required to produce documents on how it recognizes revenue.
May 10 2007: 1:00 PM EDT


NEW YORK (Reuters) -- Diebold Inc., one of the world's largest makers of electronic voting machines and automated teller machines, said Thursday it received a U.S. Securities and Exchange Commission subpoena in March seeking documents related to how the company recognizes revenue.

The North Canton, Ohio, company said it is responding to the subpoena and continuing to cooperate with the SEC. It disclosed the subpoena in its quarterly report filed with the agency.

Rage against the machine
Diebold announced last May the SEC had opened an informal inquiry in the matter, and three months later said the agency upgraded the probe to formal status, which gives the SEC subpoena power.

In March 2006, Diebold (up $0.10 to $47.91, Charts) said it would reduce fourth-quarter 2005 revenue by $7 million and net income by $4.2 million, or 6 cents per share, to defer some election systems revenue into future periods. It said it would recognize the deferred revenue and associated earnings between 2007 and 2010.

more at:
http://money.cnn.com/2007/05/10/news/companies/diebold.reut/?postversion=2007051012

[zonmoy]

1. anybody else think that a large part of their revenue stream

for election years will be payments by the gop for rigging the elections.

[Peace Patriot]

2. "...to defer some election systems revenue into future periods." Hm-m-m.

Could be the Congr Dems' HR 811, where they get more billions to consolidate their election theft gains and expand into "new markets," say New York.

Interesting how our leaders pay such careful attention to the regulation of money, and none to how our votes are being counted.

[C_U_L8R]

3. What's this check to Clarence Beeks for ???