Best business reporting from abroad in newspapers or wire services
YEAR: 2003
AWARD NAME: The Malcolm Forbes Award 2003
RECIPIENT: Alessandra Galloni, Carrick Mollenkamp, David Reilly
AFFILIATION: The Wall Street Journal
HONORED WORK: “Spilled Milk: The Fall of Parmalat”
The first hint of the crimes that led to the collapse of the giant Italian dairy company astonished the business world. Just three days later, The Wall Street Journal covered the complex story with a depth and clarity its competitors were still struggling to match several months later. In little more than a week, the Journals coverage exposed many details of a massive but amazingly crude fraud that may total $10 billion, as well as the human drama as Calisto Tanzi’s family-controlled empire fell apart. In a model collaborative effort, staffers around the world filled out the core team’s coverage.
Citation:
Joseph Kahn
The New York Times
“The World’s Sweatshop”