Buffett has long said such trading would be a conflict of interest, and Berkshire policies prohibit it.

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The Big Story
Thu. Nov 9, 2023

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How Warren Buffett Privately Traded in Stocks That Berkshire Hathaway Was Buying and Selling <[link removed]> Buffett has long said such trading would be a conflict of interest, and Berkshire policies prohibit it. But confidential records show that, on at least three occasions, he sold millions of dollars of shares in stocks that Berkshire was trading. by Robert Faturechi and Ellis Simani

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The Secret IRS Files

How the Ultrawealthy Use Private Foundations to Bank Millions in Tax Deductions While Giving the Public Little in Return <[link removed]> It’s a simple bargain: The rich get huge tax breaks by donating art, property and company shares to benefit the public. But some donors collect millions while offering little or no public access. by Jeff Ernsthausen <[link removed]>

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 <[link removed]>

Private Planes and Luxury Yachts Aren’t Just Toys for the Ultrawealthy. They’re Also Huge Tax Breaks. <[link removed]> What’s the only thing better than having your own Gulfstream jet? Why, getting to claim millions in tax deductions for it. All you have to do is make a case you’re using it for business, which turns out to be surprisingly easy. by Paul Kiel <[link removed]>

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]>

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The Historic Claims That Put a Few California Farming Families First in Line for Colorado River Water <[link removed]> Twenty families in the Imperial Valley received a whopping 386.5 billion gallons of the river’s water last year — more than three Western states. Century-old water rights guarantee that supply. by Janet Wilson, The Desert Sun, and Nat Lash, ProPublica

The 20 Farming Families Who Use More Water From the Colorado River Than Some Western States <[link removed]> Tens of millions of people — and millions of acres of farmland — rely on the Colorado River’s water. But as its supply shrinks, these farmers get more water from the river than entire states. by Nat Lash, ProPublica, and Janet Wilson, The Desert Sun

Find Out Why Your Health Insurer Denied Your Claim <[link removed]> You likely have the right to access records that explain why your insurer denied your claim or prior authorization request. Use ProPublica’s free tool to generate a letter requesting your claim file from your health insurance company. by Ash Ngu and Maya Miller

You Have a Right to Know Why a Health Insurer Denied Your Claim. Some Insurers Still Won’t Tell You. <[link removed]> Federal regulations require insurers to promptly hand over records to patients facing claim denials. Some insurers only turned over their files after ProPublica reached out. by Maya Miller, with additional reporting by Ash Ngu

Inside Illinois’ Youth Lockups, Children Go Without Basic Services and Face “Excessive” Punishments <[link removed]> State audits point to troubling conditions in juvenile detention centers, but no agency has strong enough oversight to bring about change. by Molly Parker, Capitol News Illinois

Big Insurance Met Its Match When It Turned Down a Top Trial Lawyer’s Request for Cancer Treatment <[link removed]> Blue Cross and Blue Shield denied payment for the proton therapy Robert “Skeeter” Salim’s doctor ordered to fight his throat cancer. But he was no ordinary patient. He was a celebrated litigator. And he was ready to fight. by T. Christian Miller

Here’s What Can Happen When Kids Age Out of Foster Care <[link removed]> Two teens aged out of New Mexico’s child welfare system last year. This photo essay shows how different their lives have become. by Kitra Cahana, special to ProPublica, and Ed Williams, Searchlight New Mexico, photography by Kitra Cahana, special to ProPublica

The EPA Has Found More Than a Dozen Contaminants in Drinking Water but Hasn’t Set Safety Limits on Them <[link removed]> The inaction on regulating contaminants — including those that likely cause cancer, reproductive or developmental issues — found in the water of millions of Americans illustrates shortcomings in the U.S. response to environmental threats, say experts. by Agnel Philip

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