{ "schemaVersion": "deck-intelligence.v1", "id": "019dd923-622c-750b-8b9c-ab753b18e191", "slug": "0115b98f16bd", "title": "Southwest Airlines (LUV)", "subtitle": "Elliott Investment Management · 2024-09", "author": "Elliott Investment Management", "date": "2024-09-26 00:00:00", "pageCount": 2, "kind": "press-release", "orientation": "portrait", "aspectRatio": 0.77272725, "targetCompany": "Southwest Airlines", "targetTicker": "LUV", "document": { "id": "019dd923-622c-750b-8b9c-ab753b18e191", "slug": "0115b98f16bd", "title": "Southwest Airlines (LUV)", "rawTitle": "ex991dfan14a10168307 092624", "authorId": "02_Elliott_Management", "authorName": "Elliott Investment Management", "authorDisplay": "Elliott Investment Management", "kind": { "slug": "press-release", "label": "Press release" }, "sourceType": { "slug": "activist_investor", "label": "Activist investor" }, "fileName": "2024-09-ex991dfan14a10168307_092624.pdf", "sourceUrl": "https://www.strongersouthwest.com", "sourceDate": "2024-09-26 00:00:00", "presentationDate": "2024-09-26 00:00:00", "ingestedAt": "2026-04-23 01:43:14+00", "status": "ready", "pageCount": 2, "orientation": "portrait", "aspectRatio": 0.77272725, "targetCompany": "Southwest Airlines", "targetTicker": "LUV", "metadata": { "local_root": "/tmp/legacy-images/0115b98f16bd", "activist_firm": "Elliott Investment Management", "origin_corpus": "contrarian", "extraction_seconds": 174.8739960193634 } }, "coverage": { "pageCount": 2, "pagesIndexed": 2, "pagesWithImages": 2, "pagesWithMetadata": 2, "imageCoveragePct": 100, "metadataCoveragePct": 100, "componentCount": 11, "chartCount": 0, "metricSlides": 0, "toolMatches": 3, "documentToolMatches": 1, "frameworkMatches": 2, "arcMatches": 1, "beatMatches": 2, "loopMatches": 0, "patternMatches": 0, "storymakersMatch": false, "scoreAvailable": false, "reviewAvailable": false, "activistThesisAvailable": true, "pitchdeckMetadataAvailable": false, "pitchdeckProfileAvailable": false }, "blocks": [], "matches": { "arcs": [ { "arc": { "name": "AIDA", "slug": "aida", "status": "active", "bestFor": "Marketing presentations, product launches, sales enablement", "canonId": "019dd956-5fb4-77aa-866d-f9bdd47803af", "version": 1, "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49", "structure": "Attention -> Interest -> Desire -> Action", "description": null, "familyLabel": null, "categoryName": "Strategy & Business", "categorySlug": "strategy-business" }, "matchId": "c7bcd4e9-90fa-40fe-af45-aa9cd38689ba", "evidence": "Press release format", "isPrimary": true, "confidence": 0.6, "extraction": { "at": "2026-07-16 22:03:31.401862+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": "doc-narrative-v1" } } ], "beats": [ { "to": 1, "arc": { "name": "AIDA", "slug": "aida", "status": "active", "bestFor": "Marketing presentations, product launches, sales enablement", "canonId": "019dd956-5fb4-77aa-866d-f9bdd47803af", "version": 1, "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49", "structure": "Attention -> Interest -> Desire -> Action", "description": null, "familyLabel": null, "categoryName": "Strategy & Business", "categorySlug": "strategy-business" }, "from": 1, "name": "Attention", "beatId": "6597aaec-db55-4db6-b99a-33e89baba9fe", "matchId": "c7bcd4e9-90fa-40fe-af45-aa9cd38689ba", "beatType": { "name": "Attention", "slug": "aida-attention", "status": "active", "canonId": "019dd9b8-1086-7099-85c1-2f9cae7ea19d", "version": 1, "description": null }, "evidence": "Press Releases appendix", "position": 0, "isPrimaryArc": true, "parentBeatType": { "name": "Hook", "slug": "hook", "status": "active", "canonId": "019dd9b8-01a6-7328-bff2-b22eb40b3ea5", "version": 1, "description": "The opener — a deliberate move to earn attention before any argument. Used by AIDA, Monroes, Pixar Pitch, Overcoming the Monster." }, "alignedBlockIds": null, "matchConfidence": 0.6 }, { "to": 2, "arc": { "name": "AIDA", "slug": "aida", "status": "active", "bestFor": "Marketing presentations, product launches, sales enablement", "canonId": "019dd956-5fb4-77aa-866d-f9bdd47803af", "version": 1, "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49", "structure": "Attention -> Interest -> Desire -> Action", "description": null, "familyLabel": null, "categoryName": "Strategy & Business", "categorySlug": "strategy-business" }, "from": 2, "name": "Interest", "beatId": "4c15179b-d1db-424d-8687-d165671f9c24", "matchId": "c7bcd4e9-90fa-40fe-af45-aa9cd38689ba", "beatType": { "name": "Interest", "slug": "aida-interest", "status": "active", "canonId": "019dd9b8-115b-7640-827f-fd115885a984", "version": 1, "description": null }, "evidence": "executive_summary", "position": 1, "isPrimaryArc": true, "parentBeatType": { "name": "Complication", "slug": "complication", "status": "active", "canonId": "019dd9b8-0275-7709-b2d6-4f77c3fc7579", "version": 1, "description": "The point in the narrative where the audience should feel discomfort. Required for argumentative arcs." }, "alignedBlockIds": null, "matchConfidence": 0.6 } ], "loops": [], "tools": [ { "tool": { "name": "Villain naming", "slug": "villain-naming", "status": "active", "bestFor": "When governance or specific decisions are the core thesis", "canonId": "019dd9e1-55a4-74db-9314-0ced4cd46cd2", "version": 1, "bodyDocId": "019dd9a1-88f1-72ad-8f4e-56ec29d7b369", "description": "You identify a **specific person** responsible for the target's underperformance\nor the behaviour you want changed — and name them. Not \"management\" or \"the\nboard\". A named executive or director with a specific failure attributable to\nthem.", "familyLabel": null, "categoryName": null, "categorySlug": null }, "agent": null, "layer": "document", "agents": null, "matchId": "d5e79f6a-2802-40eb-a01e-fc6b5f32da74", "evidence": "Southwest CEO Bob Jordan and the incumbent Board / management team (CEO referenced by role on the visible pages)", "pageRefs": null, "priority": null, "whenToUse": "When governance or specific decisions are the core thesis", "confidence": null, "extraction": { "at": "2026-04-29 12:07:50.209813+00", "model": "unknown-legacy", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": null, "whyItWorks": "- **Accountability needs a face.** Voters (shareholders, regulators,\n journalists) act faster against people than institutions.\n- **Credibility rises with specificity.** \"The CFO has repeatedly missed\n guidance\" > \"Management has missed guidance\".\n- It **pre-empts evasion**. An individual can be removed; an abstraction\n cannot.\n- It **forces the target to respond personally** — and their defensive\n response usually generates more attention for your thesis.", "antipattern": null, "cardinality": null, "narrativePurpose": null }, { "tool": { "name": "List presentation", "slug": "list-presentation", "status": "active", "bestFor": null, "canonId": "019dd9e1-4ef7-777d-ba68-9074c2b3bcf1", "version": 1, "bodyDocId": null, "description": "Bulleted, numbered, or checklist enumerations.", "familyLabel": null, "categoryName": null, "categorySlug": null }, "agent": null, "layer": "slide", "agents": null, "matchId": "0e3ce836-cefc-4512-a38b-d42968b89703", "evidence": "Grid of press release cards with titles and dates", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.7, "extraction": { "at": "2026-07-16 23:17:53.214243+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 1, "whyItWorks": null, "antipattern": null, "cardinality": "common", "narrativePurpose": null }, { "tool": { "name": "Executive summary", "slug": "executive-summary", "status": "active", "bestFor": null, "canonId": "019dd9e1-4b63-72d5-9734-da757d91ca61", "version": 1, "bodyDocId": null, "description": "A condensed view of the entire argument on a single slide / block.", "familyLabel": null, "categoryName": null, "categorySlug": null }, "agent": null, "layer": "slide", "agents": null, "matchId": "77ef22b2-cc61-4cb5-a3a0-e5cd11bd0c1f", "evidence": "Delivering a Stronger Southwest Airlines for Customers, Employees and Shareholders", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.9, "extraction": { "at": "2026-07-16 23:17:53.304002+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 2, "whyItWorks": null, "antipattern": null, "cardinality": "common", "narrativePurpose": null } ], "frameworks": [ { "matchId": "17aeee93-30b4-41fd-ba99-34624735e229", "evidence": "Critique of current management team as 'worst-performing'", "framework": null, "confidence": 0.9, "extraction": { "at": "2026-05-02 19:55:05.062+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 2, "frameworkName": "antagonist-introduction" }, { "matchId": "851d71c4-e708-4d48-b6d5-56f42a497a96", "evidence": "Targeting shareholders and employees with specific value propositions", "framework": null, "confidence": 0.8, "extraction": { "at": "2026-05-02 19:55:05.062+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 2, "frameworkName": "audience-persona" } ], "patterns": [] }, "storymakers": null, "score": null, "review": null, "activistThesis": { "tone": "adversarial", "notes": "Two-page DFAN14A Exhibit 99.1 capturing screenshots of Elliott's 'Stronger Southwest' campaign website (strongersouthwest.com). Page 1 is the press-release index showing nine dated tiles that chart the campaign timeline (June 10 through September 26, 2024). Page 2 is the 9/26/2024 'Elliott Statement on Southwest Airlines' Investor Day' landing page featuring the 'Delivering a Stronger Southwest' pitch, two pull-quotes from a 'Top Ten Active Shareholder' ('I would rate them as the worst-performing management team in airlines … they need to go' and 'The CEO is a headwind to a turnaround. Firing him is the tailwind.'), and a ten-headshot grid of director nominees (Michael Cawley, David Cush, Sarah Feinberg, Hon. Joshua 'Josh' Gotbaum, David 'Dave' Grissen, Nancy Killefer, Robert Milton, Gregg Saretsky, Easwaran 'Eash' Sundaram, Patricia 'Patty' Watson). Stake (~11.0%) and participant details pulled from the SEC disclosure footer. Craft note: the 'Stronger Southwest' branding deliberately mimics Southwest's red/yellow/blue livery, visually appropriating the target's identity. The CEO (Bob Jordan) is named by role on the visible pages, not by name.", "kpisCited": [ { "detail": "Approximately 11.0% of common stock outstanding as of September 25, 2024", "metric": "Elliott economic exposure in Southwest" }, { "detail": "Reduced Q2 revenue guidance — the fourth guidance cut in 18 months", "metric": "Second-quarter revenue guidance" }, { "detail": "Adopted to block Elliott from increasing its ownership, triggered at a 12.5% threshold", "metric": "Shareholder rights plan (poison pill)" }, { "detail": "Added a hand-picked new director in a clear effort to entrench the current Board and management", "metric": "Board entrenchment" }, { "detail": "Ten highly qualified candidates proposed for Southwest's Board", "metric": "Independent director nominees" } ], "closingAsk": "Support Elliott's ten independent director nominees at the upcoming special shareholder meeting to replace Southwest's current Board and CEO.", "extraction": { "at": "2026-04-23 01:43:14+00", "model": "unknown-legacy", "runId": null, "seconds": 174.874, "promptVersion": null }, "scqaReward": "A refreshed board and new leadership would restore operating efficiency, modernize the product, and unlock the industry-leading airline turnaround peers have already proven achievable; no explicit price target is disclosed.", "thesisTypes": [ "management_change", "governance_board", "operational_turnaround" ], "top3Reasons": [ "Southwest's management is the worst-performing team in airlines and has destroyed value through inaction", "Fourth guidance cut in 18 months plus a poison pill and hand-picked director confirm entrenchment, not turnaround", "Elliott has nominated ten independent directors including former airline CEOs to overhaul the Board" ], "scqaSituation": "Southwest Airlines, a historically industry-leading US low-cost carrier, is one of Elliott's largest positions at roughly 11% economic exposure, yet it has trailed peers on nearly every relevant metric for the last two decades.", "thesisSummary": "Elliott Investment Management, holding approximately 11% economic exposure in Southwest Airlines, argues that the current management team is the worst-performing in the industry and has destroyed more shareholder value through inaction than any peer over the past two decades. Since Elliott released its initial June 2024 materials, Southwest has cut second-quarter revenue guidance again — the fourth cut in 18 months — adopted a shareholder rights plan to block Elliott, added a hand-picked director to entrench the Board, and issued disappointing third-quarter guidance. Elliott is nominating ten independent, highly qualified candidates — including former airline CEOs and Deputy CEOs with complementary expertise in technology, hospitality, consumer-focused businesses, labor relations, and regulatory oversight — and is soliciting a special shareholder meeting to replace directors and, ultimately, CEO Bob Jordan, whom a Top Ten Active Shareholder calls a headwind whose firing would be the tailwind.", "primaryDemands": [ "Replace Southwest's CEO and senior management team", "Elect Elliott's slate of ten independent director candidates at a special shareholder meeting", "Restore operating efficiency required to sustain low fares", "Modernize the product offering to align with today's customer preferences", "Strengthen management capabilities to ensure strong operational performance", "Facilitate investment in technology and new assets to run the reliable operation passengers and employees deserve" ], "scqaResolution": "Shareholders should call a special meeting and elect Elliott's ten independent nominees — former airline CEOs and operational, technology, labor and regulatory experts — to replace the Board and the CEO.", "thesisOneLiner": "Elliott, with ~11% of Southwest, calls the management team the worst in airlines and nominates ten independent directors to replace the CEO and restore industry-leading performance.", "precedentsCited": [], "scqaComplication": "Management has delivered a fourth revenue-guidance cut in 18 months, adopted a poison pill to block Elliott, hand-picked a new director to entrench the board, and issued disappointing Q3 guidance rather than addressing the decline.", "narrativeInterest": 3, "notableSlidePages": [ 2 ], "peerCompaniesCited": [], "valuationFrameworks": [ "not_shown" ], "visualCraftInterest": 3 }, "pitchdeck": { "metadata": null, "profile": null }, "slides": [ { "page": 1, "type": "appendix", "title": "This is a screenshot of a webpage, not a slide deck page.", "function": "other", "imagePath": "https://imgproxy.kitesheet.com/CSAuV6FzXcNBoC5VSFso-XrGkdqboglX2Yq8H77SSjI/rs:fit:1200:1200:0/q:82/f:webp/czM6Ly9raXRlc2hlZXQvY29ycHVzL3NsaWRlcy8wMTE1Yjk4ZjE2YmQvcDAwMS5qcGc", "rawType": "appendix", "block": null, "metadata": { "slideType": "appendix", "slideTypeCanon": { "name": "Appendix", "slug": "appendix", "status": "active", "canonId": "019de52d-0762-71f8-b564-89ab863301cc", "version": 1, "description": null }, "function": "other", "functionCanon": { "name": "Other (fallback)", "slug": "other", "status": "active", "canonId": "019de52d-15e1-75bc-99dc-07732380e2ce", "version": 1, "description": null }, "density": "sparse", "densityScore": 13, "componentCount": 3, "textChars": 113, "nDataPoints": 0, "notes": "This is a screenshot of a webpage, not a slide deck page.", "elementsJson": [ "icon_grid", "paragraph", "footnote" ], "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 19:55:03.423+00", "seconds": 5.159, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019dd923-622c-750b-8b9c-ab753b18e191/1", "deck": "/decks/019dd923-622c-750b-8b9c-ab753b18e191", "deckAnchor": "/decks/019dd923-622c-750b-8b9c-ab753b18e191#slide-1", "deckJson": "/decks/019dd923-622c-750b-8b9c-ab753b18e191.json" }, "components": [ { "bbox": { "h": 0.12, "w": 0.52, "x": 0.24, "y": 0.85 }, "kind": "disclaimer", "text": "CERTAIN INFORMATION CONCERNING THE PARTICIPANTS...", "attrs": null, "canon": { "kind": { "name": "Disclaimer", "slug": "disclaimer", "status": "active", "canonId": "91173477-d91f-4024-bbaf-d4f93e3f82dc", "version": 1, "description": "Legal/cautionary text that occupies most of the body of its slide." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 19:55:03.423+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "4ab30ac2-5e34-41c4-8a9b-d9a0e4c6ca01", "parentComponentId": null }, { "bbox": { "h": 0.45, "w": 0.52, "x": 0.24, "y": 0.14 }, "kind": "list", "text": "Grid of press release cards with titles and dates", "attrs": null, "canon": { "kind": { "name": "List", "slug": "list", "status": "active", "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2", "version": 1, "description": "Bullet or numbered list." }, "tool": null, "subkind": { "name": "Bullet list", "slug": "bullet", "status": "active", "canonId": "019de52c-fc98-7169-a083-5cab805076ca", "version": 1, "description": null }, "framework": null }, "subkind": "bullet", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 19:55:03.423+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "787989ec-93e8-485b-847c-7cf7527f1884", "parentComponentId": null }, { "bbox": { "h": 0.03, "w": 0.2, "x": 0.24, "y": 0.65 }, "kind": "title", "text": "Press Releases", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 19:55:03.423+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "fa699120-4529-434d-a6f1-751085e9cd5e", "parentComponentId": null } ], "metrics": [], "tools": [ { "tool": { "name": "List presentation", "slug": "list-presentation", "status": "active", "bestFor": null, "canonId": "019dd9e1-4ef7-777d-ba68-9074c2b3bcf1", "version": 1, "bodyDocId": null, "description": "Bulleted, numbered, or checklist enumerations.", "familyLabel": null, "categoryName": null, "categorySlug": null }, "agent": null, "layer": "slide", "agents": null, "matchId": "0e3ce836-cefc-4512-a38b-d42968b89703", "evidence": "Grid of press release cards with titles and dates", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.7, "extraction": { "at": "2026-07-16 23:17:53.214243+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 1, "whyItWorks": null, "antipattern": null, "cardinality": "common", "narrativePurpose": null } ], "frameworks": [], "arcBeats": [ { "to": 1, "arc": { "name": "AIDA", "slug": "aida", "status": "active", "bestFor": "Marketing presentations, product launches, sales enablement", "canonId": "019dd956-5fb4-77aa-866d-f9bdd47803af", "version": 1, "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49", "structure": "Attention -> Interest -> Desire -> Action", "description": null, "familyLabel": null }, "from": 1, "name": "Attention", "beatId": "6597aaec-db55-4db6-b99a-33e89baba9fe", "matchId": "c7bcd4e9-90fa-40fe-af45-aa9cd38689ba", "beatType": { "name": "Attention", "slug": "aida-attention", "status": "active", "canonId": "019dd9b8-1086-7099-85c1-2f9cae7ea19d", "version": 1, "description": null }, "evidence": "Press Releases appendix", "position": 0, "isPrimaryArc": true, "parentBeatType": { "name": "Hook", "slug": "hook", "status": "active", "canonId": "019dd9b8-01a6-7328-bff2-b22eb40b3ea5", "version": 1, "description": "The opener — a deliberate move to earn attention before any argument. Used by AIDA, Monroes, Pixar Pitch, Overcoming the Monster." }, "alignedBlockIds": null, "matchConfidence": 0.6 } ], "loops": [], "thumbSrc": "https://imgproxy.kitesheet.com/PPee9G3pLOJazti1XJpx7hd-m7andD2vd5hjhHKFb-E/rs:fit:480:480:0/q:78/f:webp/czM6Ly9raXRlc2hlZXQvY29ycHVzL3NsaWRlcy8wMTE1Yjk4ZjE2YmQvcDAwMS5qcGc", "imagePathAlt": "https://imgproxy.kitesheet.com/GkFHzagwv1R83fdRT_tCw6lHD2J4gIsPZok2SIyM3PI/rs:fit:1200:1200:0/q:82/f:webp/czM6Ly9raXRlc2hlZXQvY29ycHVzL3NsaWRlcy8wMTE1Yjk4ZjE2YmQvcDAwMS5wbmc", "thumbSrcAlt": "https://imgproxy.kitesheet.com/jT_iO8u42iLfq4FYQs3GViWEvHUc_VciuycyejxB5H4/rs:fit:480:480:0/q:78/f:webp/czM6Ly9raXRlc2hlZXQvY29ycHVzL3NsaWRlcy8wMTE1Yjk4ZjE2YmQvcDAwMS5wbmc" }, { "page": 2, "type": "setup", "title": "This is a long-form web page acting as a press release/campaign landing page.", "function": "summarize", "rawType": "executive_summary", "block": null, "metadata": { "slideType": "executive_summary", "slideTypeCanon": { "name": "Executive summary", "slug": "executive_summary", "status": "active", "canonId": "019de52d-06be-73ff-81b3-f99fe7f0025e", "version": 1, "description": null }, "function": "summarize", "functionCanon": { "name": "Summarize", "slug": "summarize", "status": "active", "canonId": "019de52d-1541-704f-b86f-bf7b75056373", "version": 1, "description": null }, "density": "dense", "densityScore": 67, "componentCount": 8, "textChars": 736, "nDataPoints": 0, "notes": "This is a long-form web page acting as a press release/campaign landing page.", "elementsJson": [ "headline_text", "bullet_list", "quote_block", "headshot", "paragraph", "icon_grid" ], "confidence": 0.9, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 19:55:05.062+00", "seconds": 6.497, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019dd923-622c-750b-8b9c-ab753b18e191/2", "deck": "/decks/019dd923-622c-750b-8b9c-ab753b18e191", "deckAnchor": "/decks/019dd923-622c-750b-8b9c-ab753b18e191#slide-2", "deckJson": "/decks/019dd923-622c-750b-8b9c-ab753b18e191.json" }, "components": [ { "bbox": null, "kind": "callout", "text": "The CEO is a headwind to a turnaround. Firing him is the tailwind.", "attrs": null, "canon": { "kind": { "name": "Callout", "slug": "callout", "status": "active", "canonId": "019de52c-f8d3-761a-8953-7d37080de5e2", "version": 1, "description": "Highlighted callout box." }, "tool": { "name": "Visual emphasis", "slug": "visual-emphasis", "status": "active", "bestFor": null, "canonId": "019dd9e1-474b-736b-a8eb-a794dd88241c", "version": 1, "bodyDocId": null, "description": "Drawing the eye to one element above the rest of the slide.", "familyLabel": null }, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-04-22 22:44:18+00", "model": "unknown-legacy", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "019dd952-e6e9-749a-ba79-d99a96df842c", "parentComponentId": null }, { "bbox": { "h": 0.15, "w": 0.3, "x": 0.35, "y": 0.35 }, "kind": "image", "text": "Nominee headshots", "attrs": null, "canon": { "kind": { "name": "Image", "slug": "image", "status": "active", "canonId": "019de52c-f978-701f-a720-51d029d769e7", "version": 1, "description": "Photo, illustration, screenshot or icon." }, "tool": null, "subkind": { "name": "Headshot", "slug": "headshot", "status": "active", "canonId": "019de52c-fd5f-765c-9282-38b54f61bbbf", "version": 1, "description": null }, "framework": null }, "subkind": "headshot", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 19:55:05.062+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "b41ee7d5-c24f-45f6-8bff-59c41a93ca1a", "parentComponentId": null }, { "bbox": { "h": 0.02, "w": 0.3, "x": 0.35, "y": 0.32 }, "kind": "list", "text": "List of nominee qualifications and background", "attrs": null, "canon": { "kind": { "name": "List", "slug": "list", "status": "active", "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2", "version": 1, "description": "Bullet or numbered list." }, "tool": null, "subkind": { "name": "Bullet list", "slug": "bullet", "status": "active", "canonId": "019de52c-fc98-7169-a083-5cab805076ca", "version": 1, "description": null }, "framework": null }, "subkind": "bullet", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 19:55:05.062+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "bc8bf4d6-9eee-4972-aac3-84eca984e715", "parentComponentId": null }, { "bbox": { "h": 0.03, "w": 0.3, "x": 0.35, "y": 0.63 }, "kind": "paragraph", "text": "About Elliott Investment Management", "attrs": null, "canon": { "kind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4", "version": 1, "description": "Single prose block in the body of a slide." }, "tool": null, "subkind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433", "version": 1, "description": null }, "framework": null }, "subkind": "paragraph", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 19:55:05.062+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "dd6b789f-b68e-4a3e-a571-498e4670c4ff", "parentComponentId": null }, { "bbox": { "h": 0.05, "w": 0.3, "x": 0.35, "y": 0.24 }, "kind": "quote", "text": "I would rate them as the worst-performing management team in airlines. This was a Company that has destroyed more value based on their own inaction than anyone else in the industry. They need to go.", "attrs": null, "canon": { "kind": { "name": "Quote", "slug": "quote", "status": "active", "canonId": "019de52c-f8fb-751e-8bc6-d58e2d59562a", "version": 1, "description": "Pull quote or testimonial." }, "tool": null, "subkind": { "name": "Testimonial", "slug": "testimonial", "status": "active", "canonId": "019de52c-fc21-71b6-9ac3-8266a64945e8", "version": 1, "description": null }, "framework": null }, "subkind": "testimonial", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 19:55:05.062+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "6635795b-f99f-43d2-93fc-36ddfe62d589", "parentComponentId": null }, { "bbox": { "h": 0.02, "w": 0.3, "x": 0.35, "y": 0.58 }, "kind": "quote", "text": "The CEO is a headwind to a turnaround. Firing him is the tailwind.", "attrs": null, "canon": { "kind": { "name": "Quote", "slug": "quote", "status": "active", "canonId": "019de52c-f8fb-751e-8bc6-d58e2d59562a", "version": 1, "description": "Pull quote or testimonial." }, "tool": null, "subkind": { "name": "Testimonial", "slug": "testimonial", "status": "active", "canonId": "019de52c-fc21-71b6-9ac3-8266a64945e8", "version": 1, "description": null }, "framework": null }, "subkind": "testimonial", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 19:55:05.062+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "b01a38f4-8cd3-49f1-9a18-b60d72555626", "parentComponentId": null }, { "bbox": null, "kind": "quote", "text": "I would rate them as the worst-performing management team in airlines. This was a Company that has destroyed more value based on their own inaction than anyone else in the industry. They need to go. — Top Ten Active Shareholder", "attrs": null, "canon": { "kind": { "name": "Quote", "slug": "quote", "status": "active", "canonId": "019de52c-f8fb-751e-8bc6-d58e2d59562a", "version": 1, "description": "Pull quote or testimonial." }, "tool": { "name": "Authority citation", "slug": "authority-citation", "status": "active", "bestFor": null, "canonId": "019dd9e1-49ae-7557-89ad-3fca70469b45", "version": 1, "bodyDocId": null, "description": "Quoting an authority figure, study, or precedent to lend weight.", "familyLabel": null }, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-04-22 22:44:18+00", "model": "unknown-legacy", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "019dd952-e6e9-749a-ba79-deb7aa7bd16a", "parentComponentId": null }, { "bbox": { "h": 0.02, "w": 0.3, "x": 0.35, "y": 0.13 }, "kind": "title", "text": "Delivering a Stronger Southwest Airlines for Customers, Employees and Shareholders", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 19:55:05.062+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "edef6566-4a81-4912-bb4e-fccc10c3f469", "parentComponentId": null } ], "metrics": [], "tools": [ { "tool": { "name": "Executive summary", "slug": "executive-summary", "status": "active", "bestFor": null, "canonId": "019dd9e1-4b63-72d5-9734-da757d91ca61", "version": 1, "bodyDocId": null, "description": "A condensed view of the entire argument on a single slide / block.", "familyLabel": null, "categoryName": null, "categorySlug": null }, "agent": null, "layer": "slide", "agents": null, "matchId": "77ef22b2-cc61-4cb5-a3a0-e5cd11bd0c1f", "evidence": "Delivering a Stronger Southwest Airlines for Customers, Employees and Shareholders", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.9, "extraction": { "at": "2026-07-16 23:17:53.304002+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 2, "whyItWorks": null, "antipattern": null, "cardinality": "common", "narrativePurpose": null } ], "frameworks": [ { "matchId": "17aeee93-30b4-41fd-ba99-34624735e229", "evidence": "Critique of current management team as 'worst-performing'", "framework": null, "confidence": 0.9, "extraction": { "at": "2026-05-02 19:55:05.062+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 2, "frameworkName": "antagonist-introduction" }, { "matchId": "851d71c4-e708-4d48-b6d5-56f42a497a96", "evidence": "Targeting shareholders and employees with specific value propositions", "framework": null, "confidence": 0.8, "extraction": { "at": "2026-05-02 19:55:05.062+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 2, "frameworkName": "audience-persona" } ], "arcBeats": [ { "to": 2, "arc": { "name": "AIDA", "slug": "aida", "status": "active", "bestFor": "Marketing presentations, product launches, sales enablement", "canonId": "019dd956-5fb4-77aa-866d-f9bdd47803af", "version": 1, "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49", "structure": "Attention -> Interest -> Desire -> Action", "description": null, "familyLabel": null }, "from": 2, "name": "Interest", "beatId": "4c15179b-d1db-424d-8687-d165671f9c24", "matchId": "c7bcd4e9-90fa-40fe-af45-aa9cd38689ba", "beatType": { "name": "Interest", "slug": "aida-interest", "status": "active", "canonId": "019dd9b8-115b-7640-827f-fd115885a984", "version": 1, "description": null }, "evidence": "executive_summary", "position": 1, "isPrimaryArc": true, "parentBeatType": { "name": "Complication", "slug": "complication", "status": "active", "canonId": "019dd9b8-0275-7709-b2d6-4f77c3fc7579", "version": 1, "description": "The point in the narrative where the audience should feel discomfort. Required for argumentative arcs." }, "alignedBlockIds": null, "matchConfidence": 0.6 } ], "loops": [], "locked": true } ], "arcBeats": [ { "from": 1, "to": 1, "label": "Attention", "description": "Press Releases appendix" }, { "from": 2, "to": 2, "label": "Interest", "description": "executive_summary" } ], "loops": [] }