The IRE Resource Center is a major research library containing more than 23,250 investigative stories — both print and broadcast. These stories are searchable online or by contacting the Resource Center directly (573-882-3364 or rescntr@ire.org) where a researcher can help you pinpoint what you need. Browse or search the tipsheet section of our library below. Stories are not available for download but can be easily ordered by contacting the Resource Center:
Search results for "investing" ...
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America's Great State Payroll Giveaway
A state-employed psychiatrist in California made $822,000 by clocking in 17 hours every day last year, including Sundays and holidays. An employee cashed out with $609,000 for unused vacation when she retired, claiming she never took vacations in a 30-year career. A highway patrol officer collected $484,000 in salary, pension and leave payments. The chief money manager at a Texas pension fund got $1 million in salary and bonuses while posting investment returns that trailed those of peers who earned a quarter as much. Bloomberg News used freedom-of-information laws to obtain 1.4 million payroll records from the 12 largest states and show how taxpayers funded these out-of-control expenses and more, while at the same time states cut funding for universities, public safety, health care, schools and services aimed at the neediest residents.
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Strings Attached
Councilwoman Helena Brown, known for her loony diatribes, is heavily -- some say completely -- influenced by senior advisor William Park, who last year was banned from the investments industry.
Tags: Council; government
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Profiting from the Auto-Bailout
September, 2012 the Obama campaign launched television ads blasting Romney’s November 2008 New York Times op-ed, “Let Detroit Go Bankrupt.” In an article for The Nation Magazine, funded by The Nation Investigative Fund we discovered that Ann Romney, personally gained at least $15.3 million from the bailout—and a few of Romney’s most important Wall Street donors made more than $4 billion. Their gains, and the Romneys’, were astronomical—more than 3,000 percent on their investment. It all starts with Delphi Automotive, a former General Motors subsidiary whose auto parts remain essential to GM’s production lines. No bailout of GM—or Chrysler, for that matter—could have been successful without saving Delphi. So, in addition to making massive loans to automakers in 2009, the federal government sent, directly or indirectly, more than $12.9 billion to Delphi—and to the hedge funds that had gained control over it. One of the hedge funds profiting from that bailout— $1.28 billion at the time of publication — was Elliott Management, directed by Romney supporter, Paul Singer.
Tags: Bailout; political campaign; Obama; Romney; Paul Singer
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For-Profit-College Business Model Breeds Exploitative Marketing Tactics
In the first radio piece: Interviews with former recruiters, faculty, administrators and students of a small group of for-profit colleges in Minnesota paint a picture of schools that are exploiting unsophisticated students for their financial-aid money. Analysis points to a high-enrollment, high-dropout business model that earns the company millions but provides questionable return on taxpayer investment. In the second radio piece: Political differences at the federal level make it unclear how much the government will regulate for-profit colleges. At the Minnesota state level, the leading official for higher-ed says his agency doesn’t have the resources to go after problem colleges – and isn’t sure whether beefing up enforcement would be the best use of higher-education funding.
Tags: Non-profit colleges; financial aid; business models; for-profit colleges
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Green Energy Going Red
In this series of original and exclusive investigations, CBS documented the fate of $90 billion dollars in green energy stimulus tax spending and dug in to find out why it did not produced the promised results: a boom in green energy technology and products accompanied by a burst in employment. In Solar Scorching, we identified eleven green energy companies besides Solyndra that together got billions of tax dollars, only to declare bankruptcy or suffer other serious financial issues. Since our initial report, the number of failures has risen dramatically. CBS exposed the fact that the government secretly knew what a poor investment some of these companies were, even before it committed taxpayer billions. We obtained exclusive documents showing one project had confidentially been rated as a “junk bond,” but the government committed $43 million tax dollars anyway. It went bankrupt.
Tags: Taxes; green energy; Solyndra; taxpayers
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Playing with Fire
“Playing with Fire” focuses on a public board well out of the public eye, but one that could cost New Orleans taxpayers millions of dollars every year. After a month of digging through thousands of pages of records at the New Orleans Firefighters Pension Fund, WVUE-TV and Lee Zurik revealed questionable salaries, spending, and management. Among the notable discoveries: a $70,000 raise and $90,000 lump sum payout for the board Secretary-Treasurer/CEO; tens of thousands of dollars in questionable credit card charges by the board; and tens of millions of dollars in questionable investments. This last element is perhaps the most egregious for the citizens of New Orleans who are left to foot the bill for any pension fund shortfalls. This multi part series launched an investigation by the city’s inspector general, forced the board to change polices and led to charges filed by the state ethics board against two of the principals in our series.
Tags: New Orleans; taxes; taxpayers; credit cards
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Justice in the Shadows
Although immigration is one of America’s most divisive, visceral, and hotly debated issues, the public rarely gets a close look at the vast law enforcement network that every year detains more than 400,000 suspected illegal immigrants. Courts often operate inside prisons, far from view. Immigration officials play by rules that would not be permitted for the police or the FBI. Here is a system heavily shielded from public scrutiny. Reporting even routine activities is a challenge. Boston Globe reporters Maria Sacchetti and Milton J. Valencia, however, penetrated the wall of secrecy. Their three-part series, “Justice in the Shadows,” revealed a dysfunctional and largely unaccountable system that locks up people who pose little threat while releasing dangerous criminals back to US streets because their home countries won’t take them back. The results, Sacchetti and Valencia showed, at times can be deadly for Americans and foreigners alike. The reporting was anything but quick or easy. Sacchetti and Valencia filed more than 20 Freedom of Information Act requests to federal agencies that comprise the immigration system. Nearly all of them were partially or wholly denied, purportedly to protect the privacy of the immigrants. With the federal government blocking the way, Sacchetti and Valencia found other avenues to document what was happening inside this Byzantine system, investing a year to do so. The effort to shed light on the immigration system continues: The Globe has filed a federal lawsuit against the Department of Homeland Security to force the agency to reveal the names of more than 8,000 criminal foreigners released in the US because they couldn’t be deported.
Tags: security; Department of Homeland Security; illegal immigrants; FBI
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How Safe Are Your Savings?; The Time Bomb In Your Nest Egg
"The Time Bomb In Your Nest Egg" was the result of an intensive, year-long investigation which revealed how Wall Street firms and major banks are selling structured products by advertising them as safe, sure bets. In fact, they are essentially a repackaged version of the same high-risk products that played a major role in the 2008 financial collapse. "How Safe Are Your Savings?" details the nature of these investments, how they're sold, and who Congress and the SEC need to do to protect investors.
Tags: congress; SEC; wall street; nest egg; savings
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Education for Sale
Education Management Corp. was already a swiftly growing player in the lucrative world of for-profit higher education, with annual revenues topping $1 billion, but it had its sights set on industry domination. So, five years ago, the Pittsburgh company's executives agreed to sell its portfolio of more than 70 colleges to a trio of investment partnerships for $3.4 billion, securing the needed capital for an aggressive national expansion.
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Pension Secrecy and Costly Descisions
These investigative stories, by the Tampa Bay Times, have documented investment debacles, political influence peddling, and oversight failures at the nation's fourth largest pension fund.
Tags: Pension; Investment; Tampa Bay Times; Pension Fund