Stories

The IRE Resource Center is a major research library containing more than 27,000 investigative stories.

Most of our stories are not available for download but can be easily ordered by contacting the Resource Center directly at 573-882-3364 or [email protected] where a researcher can help you pinpoint what you need.

Search results for "investment" ...

  • In Donors We Trust

    This entry features the Detroit Free Press' innovative and exhaustive look into irregularities in the management of the University of Michigan’s $11 billion endowment. The years-long investigation detailed how executives at some of the nation's top investment firms donated hundreds of millions of dollars to the University of Michigan while the university in turn invested as much as $4 billion in those companies' funds. More than $400 million of that amount was sent into funds managed by three alumni who advise the university on the investments of its endowment. Critics who reviewed the newspaper’s computational and statistical analysis said Michigan’s approach of investing with some of its top donors, who also help guide the university's endowment, creates a conflict. After the publication of more than a dozen stories throughout 2018, the university reformed its conflict-of-interest rules; its president apologized for a lack in oversight; a member of its board of regents returned more than $20,000 in campaign contributions from an investment fund leader; and voters ousted both board incumbents running for re-election.
  • In Donors We Trust

    This entry features the Detroit Free Press' innovative and exhaustive look into irregularities in the management of the University of Michigan’s $11 billion endowment. The years-long investigation detailed how executives at some of the nation's top investment firms donated hundreds of millions of dollars to the University of Michigan while the university in turn invested as much as $4 billion in those companies' funds. More than $400 million of that amount was sent into funds managed by three alumni who advise the university on the investments of its endowment. Critics who reviewed the newspaper’s computational and statistical analysis said Michigan’s approach of investing with some of its top donors, who also help guide the university's endowment, creates a conflict. After the publication of more than a dozen stories throughout 2018, the university reformed its conflict-of-interest rules; its president apologized for a lack in oversight; a member of its board of regents returned more than $20,000 in campaign contributions from an investment fund leader; and voters ousted both board incumbents running for re-election.
  • WSJ: Cryptocurrency Decrypted

    Bitcoin surged in 2018, attracting billions of investor dollars before prices plummeted. The Journal used innovative data reporting and traditional human sourcing to investigate the crush of frauds, money launderers and unjustified optimism that developed in the boom and came undone in the bust.
  • The New Food Economy and The Intercept: Amazon employees and the safety net

    As food stamps go online in the coming years, Amazon is poised to collect a large proportion of sales from the $70-billion program. Yet our investigation found that in at least five states, the company's own employees are disproportionately reliant on the program to feed their families. We framed these findings in contrast to the vast subsidies states and local governments provide the company in exchange for "good" jobs. Months before the conclusion of Amazon’s HQ2 search prompted mainstream outlets to wonder whether or not the company’s presence really benefits the communities that compete to host its operations, our reporting revealed that taxpayers subsidize Amazon's expansion every step of the way. It remains to be seen whether or not those investments pay off.
  • In Donors We Trust

    Everyone knows that college is more and more expensive to attend. So why are college and university endowments skyrocketing and now worth more than $567 billion? We started with the University of Michigan, lauded as one of the world’s best public universities which had stockpiled an endowment worth more than $11 billion. We found that university officials invested a good chunk of that endowment – one of the country’s largest among public institutions - in hundreds of private funds across the world. More importantly, our months-long investigation identified a select group who had secretly benefited: top university donors and alumni investment advisers who run private equity, hedge and venture capital funds and real estate investment firms. After our stories published throughout 2018, the university changed its investment policies; rerouted nearly $2 million into more student aid; made new investments based in the state; publicly released university executive compensation information after losing a FOIA lawsuit brought by the Free Press; and saw two university regents (i.e., trustees) lose their elections in November to those who promised more financial transparency and accountability based on our reporting.
  • Hachette Books: Billion Dollar Whale

    In 2009, a mild-mannered graduate of the Wharton School of Business set in motion a fraud of unprecedented gall and magnitude—“like 100 heist movies strung together” (Matt Taibbi)—and one that would eventually ensnare leading bankers and even threaten the future of investment behemoth Goldman Sachs. The story of “the $5 billion swindle known as 1MDB” would become “a textbook case of financial fraud in the modern age" (New York Times). Over a decade, Jho Low siphoned billions from an investment fund—seemingly under the nose of financial watchdogs. He used the money to purchase luxury real estate, to throw champagne-drenched parties with celebrities like Leonardo DiCaprio and Paris Hilton, and even to finance Hollywood films like The Wolf of Wall Street. As his scheme finally unraveled, with his yacht and private jet seized, Low disappeared. Billion Dollar Whale reveals the full story of the financial world’s most unlikely fugitive—a harrowing parable of hubris and greed in the twenty-first century.
  • Many Unhappy Returns: Georgia recoups up to $6.4M after WSB-TV tax fraud investigation

    In what’s turned out to be the largest tax fraud case of its kind in state history, Georgia is beginning to recoup $6.4 million from taxpayers who submitted returns with inflated refunds, based on the schemes of a longtime tax preparer who also happens to be a local elected official. The state investigation was launched after WSB-TV dug into that official's past and uncovered a trail of civil fraud judgments, tax liens, taxpayer complaints and investment schemes. She had escaped any real consequences, until now.
  • NYPD Inc.

    In the wake of a massive corruption scandal in the New York City Police Department, WNYC investigated the outside finances of top NYPD officials. The reporting found numerous top cops earn money on the side with little oversight. Some of these side jobs and investments appear to be conflicts of interest, setting a bad example for the rank and file, and helping create a culture where corruption can breed.
  • Shrinking Shores

    The Naples Daily News explored the state of Florida’s beaches, and how little the state invests in this important asset at a time when development is allowed at a rapid pace. The project found the lack of investment has resulted in much of the state’s coastline receding and local governments are burdened with managing erosion. Even though beaches generate billions annually for the state in tourism-related sales taxes, Florida's lawmakers and governors typically return less than $1 to the shore each year for every $100 they take. Part 1: http://www.naplesnews.com/story/news/special-reports/2016/11/11/shrinking-shores-how-florida-leaders-failing-states-famous-beaches/92052156/
  • The Drug Trade

    Our graphic story and accompanying interactive summarized an analysis of generic and brand-name price increases for thousands of drugs. While smaller startup and investment companies grabbed headlines with dramatic increases in drug prices, our investigation showed that big pharmaceutical companies like AstraZeneca and Novartis raised prices by as much as 250 times over three years.