Investigative Reporters & Editors (IRE) supports good reporting in a number of ways, including sharing of tips on how to dig our information in unusual circumstances.
A recent query on one of the IRE listservs asked for advice on how to get information on privately held companies that don’t have to file pubic reports with the Securities and Exchange Commission. One response gave excellent advice on the “zen of investigating” that is worth sharing more generally.
It pointed out that the SEC is only one of the agencies that might regulate all or parts of a particular business, but there are others. You really have to be creative and get into the nitty gritty of a particular business to figure out what forms of regulation might apply.
The response pointed to the usual sources, such as court records (potential “goldmine”), regulatory complaints, credit rating agencies, real estate records, even some social networking sites.
What government agencies regulate aspects of the businesses that interest you? For example, even a private hospital or nursing home probably has to file a certificate of need somewhere with financial details; franchises must file financial disclosures in their FDDs; and many kinds of securities that don’t fall under the SEC are nonetheless covered in California by the CAL-EASI databases.
Then the response shared this revealing anecdote.
When James Bamford was writing about the virtually unknown NSA in the early 1980s, no one would tell him how many people worked there. He found out anyway: 68,203. How did he get such an exact number when even Congress couldn’t? The NSA credit union had to file annual reports with the National Credit Union Administration listing its potential membership.
Of course, beyond the documents are the usual “current and formers,” as in “current and former” employees, competitors, clients, contractors, suppliers, neighbors, etc., etc.
Useful information isn’t always obvious, but it is usually there for those able to dig beyond the basics.
These suggestions are applicable to bloggers and community activists as well as reporters, so take note!