Today the Securities and Exchange Commission voted to adopt a final rule requiring that public companies disclose the "pay ratio" measuring the difference between the compensation for their CEOs and their average rank-and-file employees--providing newly public insight into how much companies pay their workforce.Read More
With the retirement of longtime Librarian of Congress James Billington, the next Librarian has big decisions to make that could revolutionize the world's largest library by bringing more of its collections to the Internet. The Atlantic has written a great article on the possibilities that await, and could potentially transform the Library of Congress into a true national library.Read More
Political TV ads from current and past campaigns can be a valuable resource when researching a candidate or campaign. While YouTube provides a helpful starting point for finding political ads of interest, several advanced search tools are available to find how much candidates spent to buy ad time, as well as archives to find older TV ads not otherwise found online.Read More
While Rep. Aaron Schock was making headlines last week, resigning Congress amid reports he had overcharged taxpayers for more in mileage reimbursements than his vehicle had on the odometer, ProPublica published a fascinating article about how government records were used to uncover another congressional mileage reimbursement scandal more than 166 years ago.Read More
Illinois Rep. Aaron Schock resigned today following a steady drip of revelations about ethical improprieties with his congressional and campaign spending practices. The news investigations into Rep. Schock over recent weeks provide special insight into a number of public records research strategies and illustrate the value of those records to demonstrate how a public official has problems with wasteful spending of taxpayer dollars.Read More
Under a new Michigan law effective July 1, 2015, requestors of public records submitted under Michigan's Freedom of Information Act will be better protected against excessive fees and delays. The law will improve access to Michigan's public records in several key ways, including:
- Upon request, agencies must provide records by e-mail or other electronic non-paper formats where possible.
- Copy costs for paper documents will be capped at $0.10/page.
- Public agencies would be subject to increased court-ordered fines if an agency is found to have unlawfully denied, delayed or overcharged for a request.
A recent investigation by The Arizona Republic utilized a little-known federal database of wine, beer and spirit labels to help solve the mysterious disappearance of an award-winning wine. The U.S. Department of the Treasury Alcohol and Tobacco Tax and Trade Bureau (TTB) Public COLA Registry (Certificates of Label Approval) allows the public to search for wine, beer and spirit labels applied for by alcoholic beverage manufacturers.Read More
Recent press coverage of ties between a Mexican company with major public works contracts and the administration of President Enrique Pena Nieto demonstrates that public records are useful in many international research applications. Here's a primer on how to find records internationally.Read More
This week Twitter announced that all public Tweets are now indexed and searchable back to 2006. Until now, searching on Twitter's interface returned recent results from within about the last week, but searching for older Tweets required using a third-party service, such as Topsy. While third-party services are still helpful tools for searching deleted Tweets and other advanced analyses, this is a welcome addition to Twitter's use as a research tool. Read more in this excellent article in Wired, and more about the technical details behind the index on Twitter's Engineering Blog.
The Project on Government Oversight (POGO) maintains a useful tool for researchers. The organization’s Federal Contractor Misconduct Database includes information on federal contractors with histories of contract fraud, environmental, ethics or labor violations. The database, which includes records of misconduct involving top federal contractors between 1995 and the present, is compiled from a number of sources including documents obtained under the Freedom of Information Act (FOIA), court records and official government reports. Use the database to find instances of misconduct (organized by contractor) and a total amount paid in misconduct-related fines or legal settlements.Read More
A Liz Moyer short in this weekend's Wall Street Journal called out the easiest ways to check a registered broker dealer's background. To see what is on file use the BrokerCheck tool on the finra.org website. The Moyer short also notes the advisability of checking with state-level broker regulators since BrokerCheck doesn't capture every investor complaint. A list of state regulators can be found here.
Keep in mind that quick and thorough seldom amount to the same thing so be aware that additional checks might need to be conducted (e.g., lawsuit, lien and judgment searches).
Recent focus on the fees and expenses charged to clients by private equity firms has caused a ripple on the public records pool as these firms work to keep what they charge public pension funds under wraps. The Wall Street Journal has reported on its efforts to obtain fee and expense data and the resistance the paper has met. This is not the first, nor will it be the last battle that plays our around whether this type of information is in fact secret under trade secrets exemptions contained in state open records laws. Read the WSJ story here.