More Than Just Shareholder Voting

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Someone, likely Mario Gabelli, seems to believe in Diebold. At least, that is what you'd be led to believe by the 13D filed by GAMCO Investors, Inc. yesterday. They've snatched up just over 7% of the firm at between $36 and $37 in a number of transactions in March and April. Of course, 13Ds are always a bit vague, but for what it is worth:

As a result of these analytical activities one or more of the Reporting Persons may issue analysts reports, participate in interviews or hold discussions with third parties or with management in which the Reporting Person may suggest or take a position with respect to potential changes in the operations, management or capital structure of such companies as a means of enhancing shareholder values. Such suggestions or positions may relate to one or more of the transactions specified in clauses (a) through (j) of Item 4 of Schedule 13D including, without limitation, such matters as disposing of one or more businesses, selling the company or acquiring another company or business, changing operating or marketing strategies, adopting or not adopting, certain types of anti-takeover measures and restructuring the company’s capitalization or dividend policy.

I suppose an election is coming up. A sudden bid for control (real or imagined) of Diebold by a Forbes 400 list member might make amusing fodder for conspiracy theorists given the reputation for hackability the Diebold voting machines possess.

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