Diebold Now Also Under DoJ Investigation as Stock Price Hits FIVE-YEAR Low!

[helderheid]

Read all about the problems regarding electronic voting and the role Diebold had in this in this http://www.deepjournal.com/p/36.html?m=48">series by DeepJournal.
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Once-Great, Now-Disgraced American Company Also Facing SEC Probe, Lawsuits, Upcoming 2008 Election Meltdowns
Not to Say We Told Ya So, Diebold Shareholders...

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 http://www.crainscleveland.com/article/20071221/FREE/892434399/1090&Profile=1090">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 Inc. (NYSE: DBD) said it has learned that the U.S. Department of Justice is conducting an investigation that parallels a previously disclosed investigation by the Securities and Exchange Commission into the company’s discontinued practice of recognizing certain revenue on a “bill and hold” basis.

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.

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