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View Diary: Ken Blackwell owned shares in Diebold; Gingrich endorses him today (129 comments)

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  •  See my followup comments above (0+ / 0-)

    I would hope that the consultant does indeed bundle and reallocate trades, because odd-lot trading can get quite expensive (maybe that's why his fees are so high?).  What I was thinking was that Blackwell should have been hiring a manager who was providing personal attention to a portfolio that would not be traded in bulk with other clients.  You would think he would have some concerns for how his trading activity would look.

    lime rick "...blow them all away in the name of the Lord." -- Jerry Falwell on CNN, 10/29/04

    by mspicata on Tue Apr 04, 2006 at 08:17:52 AM PDT

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    •  Actually ... (0+ / 0-)

      My understanding is that this is not the case ... and, certainly, when there has been reason where we've directed some form of 'odd lot', there has never been a comment along the lines of "you know ... it costs more ..."  ...

      Plus, I decided to call him and check ... his line was that there is zero cost implication for his activities for these odd-lot trades ...

      9/11/05, Day 1469, A count worth keeping? Or, Osama Bin Forgotten?

      by besieged by bush on Tue Apr 04, 2006 at 08:20:22 AM PDT

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    •  Could have been a DRIP (3+ / 0-)
      Recommended by:
      mspicata, The Wife of Bath, fairfax

      I dont know if Diebold pays divvys but if they do, they could come in the form of shares, leading to odd numbers (if the original buy was 150 for example)

      They also could have used dollar cost averaging or some other method to get to the amount.

      In any case, Frist had millions in HCA and this does not pass the materiality test.  The people who say "I dont care if he had one share" fail the proportionality test.  

      Id be interested to know how he made his millions, but anyone in public service- dems included- could have something like this happen.  If you have a hundred or more positions, and you dont read your statements line by line every month....

      And last, to those who say rich people obsess on every penny so he must have known....1) thats how they got rich in some cases and 2) poor people do too and 3) some rich people and some poor people dont watch every last penny.  

           

      Out of my cold dead hands

      by bluelaser2 on Tue Apr 04, 2006 at 08:23:53 AM PDT

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      •  Other reasons for odd lot (0+ / 0-)

        Some possibilities:

        • Owned round lot of company that was bought by Diebold, reissued shares of Deibold in some proportion
        • Issued as part of Employee Stock Purchase Plan, as some fraction of regular compensation
        • This is the vested part of a large option grant

        Why is there a Confederate Flag flying in Afghanistan?

        by chimpy on Tue Apr 04, 2006 at 09:14:49 AM PDT

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        •  All this fancy parsing (4+ / 0-)
          Recommended by:
          Ahianne, chimpy, ghostofaflea, fairfax
          of whether he knew this or that or his money manager should have told him this or that or whether a certain amount of shares or money would fall under this or that general type of trade or rule is beside the point. We are talking about Ken Blackwell, Secretary of State of the state of Ohio whose oversight of elections has been rancourous and controversial. And we are talking about Diebold, a company that has been repeatedly singled out for its involvement in contentious and questionable election activities. And we are talking abut an account that has been described as worth "multimillions." Between Blackwell's position, his high profile and his wealth, it's wildly unlikely that this was some small, innocent "accidental" investment. If it was, this money manager is wildly incompetent.
          •  Oh... *that* Diebold? (1+ / 0-)
            Recommended by:
            Ahianne

            I left one off the list. Non-cash compensation for services.

            You're right, of course. Outside of a comic book, there's no way a secretary of state, even of Ohio, could have "accidentally" invested in Diebold.

            Why is there a Confederate Flag flying in Afghanistan?

            by chimpy on Tue Apr 04, 2006 at 11:03:02 AM PDT

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