The biotech edge.

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The Big Story
Thu. Jun 22, 2023

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The Biotech Edge: How Executives and Well-Connected Investors Make Exquisitely Timed Trades in Health Care Stocks <[link removed]> Secret IRS records reveal dozens of highly fortuitous biotech and health care trades. One executive bought shares in a corporate partner just before a sale, and an investor traded options right before a company’s revenues took off, netting millions. by Ellis Simani and Robert Faturechi

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The Secret IRS Files

Wealthy Executives Make Millions Trading Competitors’ Stock With Remarkable Timing <[link removed]> Never-before-seen IRS records show that CEOs are sometimes making multimillion-dollar bets on the stocks of direct competitors and partners — and doing so with exquisite timing. by Robert Faturechi and Ellis Simani <[link removed]>

The Secret IRS Files: Trove of Never-Before-Seen Records Reveal How the Wealthiest Avoid Income Tax <[link removed]> ProPublica has obtained a vast cache of IRS information showing how billionaires like Jeff Bezos, Elon Musk and Warren Buffett pay little in income tax compared to their massive wealth — sometimes, even nothing. by Jesse Eisinger, Jeff Ernsthausen and Paul Kiel <[link removed]>

How the Wealthy Save Billions in Taxes by Skirting a Century-Old Law <[link removed]> Congress outlawed tax deductions on “wash sales” in 1921, but Goldman Sachs and others have helped billionaires like Steve Ballmer see huge tax savings by selling stocks for a loss and then replacing them with nearly identical investments. by Paul Kiel and Jeff Ernsthausen <[link removed]>

Ten Ways Billionaires Avoid Taxes on an Epic Scale <[link removed]> After a year of reporting on the tax machinations of the ultrawealthy, ProPublica spotlights the top tax-avoidance techniques that provide massive benefits to billionaires. by Paul Kiel <[link removed]>

More From Our Newsroom

Justice Samuel Alito Took Luxury Fishing Vacation With GOP Billionaire Who Later Had Cases Before the Court <[link removed]> In the years after the undisclosed trip to Alaska, Republican megadonor Paul Singer’s hedge fund has repeatedly had business before the Supreme Court. Alito has never recused himself. by Justin Elliott, Joshua Kaplan, Alex Mierjeski <[link removed]>

The Supreme Court Upheld the Indian Child Welfare Act. The Long Struggle to Implement the Law Continues. <[link removed]> A recent ProPublica investigation showed how ICWA was being unevenly applied in some states, breaking up Native American families that should have received additional protections under the law. There’s still room for improvement, advocates say. by Jessica Lussenhop <[link removed]>

DOT Researchers Suggested a Way to Make Big Trucks Safer. After Meeting With Lobbyists, Agency Officials Rejected the Idea. <[link removed]> The Department of Transportation allowed trucking lobbyists to review an unpublished report recommending a safety device that could save lives by preventing pedestrians and cyclists from getting crushed under large trucks. by Kartikay Mehrotra, ProPublica, and A.C. Thompson, ProPublica and FRONTLINE, photography by Amy Osborne for ProPublica <[link removed]>

Impeached Texas Attorney General Partnered With Troubled Businessman to Push Opioid Program <[link removed]> While launching a statewide program to distribute packets to dissolve opioids, Attorney General Ken Paxton worked to connect its leaders with the state’s comptroller, who oversees the distribution of millions of dollars in opioid settlement money. by Kiah Collier <[link removed]>

Can America’s Students Recover What They Lost During the Pandemic? <[link removed]> Disastrous test scores increasingly show how steep a toll the COVID-19 era exacted on students, particularly minorities. Schools are grappling with how to catch up, and the experience of one city shows how intractable the obstacles are. by Alec MacGillis <[link removed]>

How a Grad Student Uncovered the Largest Known Slave Auction in the U.S. <[link removed]> Lauren Davila made a stunning discovery as a graduate student at the College of Charleston: an ad for a slave auction larger than any historian had yet identified. The find yields a new understanding of the enormous harm of such a transaction. by Jennifer Berry Hawes, photography by Gavin McIntyre for ProPublica <[link removed]>

Wisconsin Republicans Sowed Distrust Over Elections. Now They May Push Out the State’s Top Election Official. <[link removed]> The fate of Wisconsin election administrator Meagan Wolfe is a stark reminder that even though courts and voters across the country have rejected election denialism, it remains a factor in this key battleground state. by Megan O’Matz <[link removed]>

Native American Families Are Being Broken Up in Spite of a Law Meant to Keep Children With Their Parents <[link removed]> After fighting to win back her parental rights, a young Native American mother prevailed. Then the state came for her second child. by Jessica Lussenhop and Agnel Philip, photography by Jaida Grey Eagle for ProPublica <[link removed]>

Inside the Preventable Deaths That Happened Within a Prominent Transplant Center <[link removed]> Dr. James Eason, who earned acclaim by operating on Steve Jobs, led the transplant center named in his honor at Methodist University Hospital in Memphis. An internal analysis by Eason’s own team details the preventable deaths under his watch. by Max Blau, photography by Lucy Garrett for ProPublica <[link removed]>

Voting Maps Throughout the Deep South May Be Redrawn After Surprise Supreme Court Ruling <[link removed]> As many as five House seats could flip in 2024 after the Allen v. Milligan ruling, in which the Supreme Court upheld a key provision of the Voting Rights Act. by Marilyn W. Thompson <[link removed]>

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