Thursday, April 18, 2024 Midwest Center for Investigative Reporting
Company heralded Nutrition division before stock fell
It's been a rocky start to the year for Archer-Daniels-Midland, one of America's premier agriculture companies.
In January, ADM placed its chief financial officer on administrative leave after its Nutrition division — a part of the company that executives had talked up for years — missed revenue projections. A shareholder lawsuit followed, and, as ADM disclosed in business filings last month, the U.S. Department of Justice is investigating its accounting practices.
When the news broke about its CFO, ADM's stock price tanked. Now, the question the company, shareholders and the U.S. government are trying to answer is, was the stock price artificially inflated?
— Sky Chadde, assistant editor/senior reporter
ADM trumpeted its nutrition and flavor business. Now the government’s investigating.
In January, ADM placed its chief financial officer on administrative leave as company lawyers reviewed accounting practices. The U.S. Department of Justice is now probing ADM’s accounting practices. It has requested documents and subpoenaed current and former employees, according to company filings. A shareholder also sued the company, alleging executives mischaracterized Nutrition’s financial performance. ADM’s “accounting practices misrepresented its true financial results and prospects,” the lawsuit alleges.
Read more.
GRAPHIC: More than a third of the food produced in the US is wasted
By Jennifer Bamberg, Investigate Midwest
Food waste is the most common material in American landfills, comprising 24% and 22% of landfilled and combusted municipal solid waste, respectively. This waste is generated by households, food service providers, food retailers, and food manufacturers and processors.
See the graphic.
OPINION: There soon will be more fireworks over U.S. meat labels
By Dave Dickey, Columnist
In his latest opinion piece, Dave Dickey digs into the matter of meat labels.
He writes: "Come Jan. 1, 2026, the scam is over after USDA’s Food Safety and Inspection Service published in the Federal Register a final rule that should put an end to the shenanigans.
"As announced, the rule will 'generically approve' the use of voluntary 'Product of USA' or 'Made in USA' labels only for meat, poultry, and egg products derived from animals born, raised, slaughtered and processed in the United States."
Read more.
Photos from our Iowa City event, the 'Inside Scoop'
It was a full house at Poindexter Coffee in the Graduate Iowa City hotel on April 12 as five Midwest journalists shared their "inside scoop" stories as part of an event to support Investigate Midwest's IowaWatch newsroom. You can listen to the stories at "Talk of Iowa" on Iowa Public Radio.
Here are some of the scenes:
Top left: University of Iowa students helped put together the evening as part of their event management studies.
Top right: Poindexter Coffee provided a cozy and comfortable place.
Bottom left: Randy Evans, executive director of the Iowa Freedom of Informatoin Council, shared his story about Norma Jean, a show elephant.
Bottom right: Lyle Muller, an Investigate Midwest board member, and Mackenzie Elmer, a reporter for Voice of San Diego and former IowaWatch intern, were able to catch up.
News from our partners
Extreme heat drives up food prices. Just how bad will it get? Grist
Investigate Midwest is an independent, nonprofit newsroom. Our mission is to serve the public as a watchdog over influential corporations and institutions through in-depth and data-driven investigative journalism.
