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Diebold, Incorporated Message Board

  • plysobey plysobey May 19, 2011 10:22 AM Flag

    Diebold annual meeting

    At the annual meeting Swidarski said that Diebold is not a growth company. My question is why then aren't they focusing on cutting costs to maximize shareholder value. They should get rid of the country club memberships and the defined benefit pension plan. Management is only focusing on maximizing their bonuses and benefits and they look at the public shareholders as an unavoidable nuisance and treat them as such. Now their whole story focuses on non-GAAP earnings because they don't want their annual write-offs and asset impairments to affect their bonuses and stock options but those charges are real hits to the company's net worth and represent real dollars flushed down the toilet by this company. The shareholders of this company need to wake up and hold management and the board of directors accountable for the financial performance of this company.

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    • you have to remember these are the same people, (mgt and the board) that turned down a $40/share offer over 2 years ago. Why people still buy the stock is beyond me? Holders, run as fast as you can!

    • They ARE cutting costs - just not the ones that affect upper management ;)

      How can someone suggest that theirs is not a growth company??? Even if the CEO believes that's the truth, wouldn't he put out the message that they are at least TRYING to grow? They are already in Round 3 of cutting $100 million in costs. I believe, though, many financial experts will tell you that you can't cut your way to prosperity. Funny how NCR can increasr revenue, while it is declining at Diebold.

      I would expect by the middle of Q3 there will be significant restructuring.

      And yes, I don't know why the major shareholders keep rubber-stamping the BoD, but I expect changes there by next year, too.

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