investigative business journalism - finding and using public documents by alec klein
DESCRIPTION
Alec Klein, an award-winning investigative journalist and Northwestern University professor, presents tips for accessing and utilizing public documents in investigative projects during the free, full-day workshop, "Finding Your Best Investigative Business Story." This training event was hosted by the Donald W. Reynolds National Center for Business Journalism and the the SPJ Madison Pro Chapter at the University of Wisconsin-Madison, Sept. 28, 2013. For more information about free training for business journalists, please visit http://businessjournalism.org. For more tips on how to develop investigative business journalism stories, please visit http://bit.ly/investigativebiz2013.TRANSCRIPT
Presented by Alec Klein Professor, Medill School of Journalism Northwestern University Madison, Wis., Sept. 28, 2013
What documents to look for and where to find them
¡ The secret to investigative business reporting is…
¡ Start with: § Lexis-‐Nexis § Google
¡ You don’t need to know where all the public documents are.
¡ You need to know what questions to ask to find them.
¡ To wit: 192.com
¡ Baltimore Sun investigation: Supermarket bankruptcy
¡ Words of wise editor: “The good reporters know what’s missing.”
¡ Thinking: I never know what’s missing. ¡ Did you check for hidden depositions? ¡ Not in court record: wads of cash in brown paper bags ¡ Before the jump on A1
¡ What are they? ¡ Where do you get them? § SEC's Edgar § Company website
¡ 10-‐K
¡ 10-‐Q: What’s the first thing to look for?
¡ Proxy: What’s the first thing to look for?
¡ SEC public filings only go so far.
¡ What is considered “material” to investors?
¡ Material: Any information related to a particular business that might be relevant to an investor's decision to buy, sell or hold a security
¡ A company can slice its business into small sectors that don’t require disclosure.
¡ To wit: AOL
Check out Robin Phillips’ webinar on LinkedIn, sourcing through social networking at http://businessjournalism.org/2012/02/29/getting-‐linkedin-‐sourcing-‐through-‐social-‐networking-‐self-‐guided-‐training/.
¡ Former employees ¡ Sworn testimony ¡ Copies of contracts ¡ Business strategy
¡ Where to find lawsuits § State and federal suits ▪ Many online
§ If not online, check Lexis-‐Nexis § If not there, check Pacer for federal
suits
§ http://pacer.psc.uscourts.gov (not free)
¡ Pulling documents § Big issue? § Money
¡ Gold mine § Pacer
¡ For what? § Creditors, assets, debts, lawyers, suppliers, vendors
¡ Key kinds? § Chapter 7: liquidation § Chapter 11: reorganization
¡ SEC
¡ FCC
¡ FDA
§ Key: on almost every investigative business story, there is a government body that has some connection to it.
¡ Congressional Testimony ¡ Contradictions ¡ Remember the tobacco
executives who claimed they didn’t know anything about the addictive power of cigarettes?
¡ Company email ¡ Internal newsletters § Get on the mailing list, if possible.
¡ Remember: Don’t steal, don’t lie, don’t break into computer system. § Chiquita Banana case
¡ Wall Street analyst reports
¡ Property records: § County or other local office
§ Many online § Good to check for:
§ Size, details of executive’s home
¡ Other great resources: § Planning department § Zoning § Construction § Driver records ▪ Depends on state; e.g., Maryland, need permission of driver for records
¡ Better Business Bureau § Consumer complaints
¡ Uniform Commercial Code § State records, secretary of state usually; shows who has borrowed money, what used as collateral, etc.
¡ Incorporation records § Usually secretary of state; records of founding of the business, including who owns it, its executives, etc.
§ Reynolds guide to where to find them in 50 states ¡ Hoovers: Hoovers.com ¡ OpenCorporates.com: company records from 75 jurisdictions around the world
¡ Can get detailed tax filings—990s—of their finances from the nonprofits themselves
¡ Or try Guidestar at www.guidestar.org
¡ Airplane-‐ownership search § Landings.com
¡ Finding lawyers § Martindale.com
¡ Message boards, blogs
¡ Website ownership § http://www.whois.sc/
¡ Internet archive: old websites § www.archive.org
¡ HARO: Helpa ReporterOut.com
¡ ProfNet: email queries for experts. § www.profnet.com
¡ Referenceusa.com ¡ Superpages.com ¡ AnyWho.com ¡ Switchboard.com ¡ Infobel.com: international directory
¡ Lexis and other pay sites: § Expensive § Even at The Washington Post: key holder
§ But good resource for investigative or beat reporting ▪ Personal information: telephone numbers
▪ Neighbors ▪ Legal judgments
¡ Opensecrets.org: Center for Responsive Politics
¡ Tray.com: Political Moneyline
¡ Publicintegrity.org: Center for Public Integrity
¡ Followthemoney.org: National Institute on Money in State Politics
¡ Lobbyists and Other Legislative Resources:
§ http://www.fara.gov/ lobbying on behalf of foreign entities
§ Congressional Research Service: http://www.opencrs.com
§ GAO Reports: www.gao.gov § Thomas website:
http://thomas.loc.gov/: basic legislation, Congressional reports and records
¡ www.reporter.org/desktop/tips/johndoe.htm § Born, married, died § Previous addresses, relatives, associates
§ Lawsuits, bankruptcies, divorce, criminal, traffic
§ Home phone § Attended college § Real estate § Etc.
¡ Courtesy of Duff Wilson
¡ Truth About Criminal Records: § There is a national criminal
record database, but it is not available to the public.
§ FBI database § Public access to criminal
records controlled at the state level
§ Each state has different rules about who may access records and what records will be available.
§ Some records handled at the county level.
¡ FOIA: the good and the bad § Secret bonuses § “Oh, that bonus” § Reprocessors ▪ List of reprocessors ▪ No List ▪ List ▪ Names missing from list
¡ FOIAs can be used to acquire data. Check out The Seattle Times’ Michael J. Berens' Oct. 22-‐23 webinar, Data Journalism 101, at http://businessjournalism.org/2013/03/11/data-‐journalism-‐101-‐online-‐oct-‐22-‐23/.
¡ Beware:
§ They might leave stuff out. § Of fishing expeditions § Of unexpected costs
¡ Sample FOIA letters: www.nfoic.org/sample-‐foia-‐letters
¡ FOIA-‐letter generator: www.rcfp.org/foialetter/index.php
¡ Not public
¡ They may say “Confidential.”
¡ You need to interpret, analyze, translate.
¡ Please feel free to contact me at [email protected].