{
  "kind": "all",
  "value": "all",
  "collectionKey": "slides:all:all:all-document-kinds:all-producers:all-orientations",
  "filters": {
    "documentKinds": [],
    "sourceTypes": [],
    "orientations": []
  },
  "total": 319975,
  "page": 1883,
  "pageSize": 60,
  "pageCount": 5333,
  "rows": [
    {
      "docId": "019dd923-622b-71dc-a6db-ed0a3b577822",
      "docSlug": "e78d0b4cc40d",
      "documentTitle": "Bob Evans Farms, Inc. (BOBE)",
      "authorId": "08_Sandell",
      "authorName": "Sandell Asset Management",
      "documentKindSlug": "activist-deck",
      "documentKindLabel": "Activist deck",
      "sourceTypeSlug": "activist_investor",
      "sourceTypeLabel": "Activist investor",
      "presentationDate": "2016-08-22 00:00:00",
      "orientation": "landscape",
      "aspectRatio": 1.3333334,
      "pageNumber": 1,
      "slideType": "cover",
      "function": "front_matter",
      "notes": null,
      "imagePath": "https://imgproxy.kitesheet.com/0f_W9Zq4ZKhhcNfix0qFggqkrUPS8C9MmegS-whWoQA/rs:fit:1200:1200:0/q:82/f:webp/czM6Ly9raXRlc2hlZXQvY29ycHVzL3NsaWRlcy9lNzhkMGI0Y2M0MGQvcDAwMS5qcGc",
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622b-71dc-a6db-ed0a3b577822/1",
      "deckHref": "/decks/019dd923-622b-71dc-a6db-ed0a3b577822",
      "deckAnchorHref": "/decks/019dd923-622b-71dc-a6db-ed0a3b577822#slide-1",
      "loopMatches": [],
      "arcBeatMatches": [],
      "imagePathAlt": "https://imgproxy.kitesheet.com/DJOQOfrx0UcNlYIKvnOk-MtuyYoAiPWssNs8trpzED8/rs:fit:1200:1200:0/q:82/f:webp/czM6Ly9raXRlc2hlZXQvY29ycHVzL3NsaWRlcy9lNzhkMGI0Y2M0MGQvcDAwMS5wbmc",
      "thumbSrc": "https://imgproxy.kitesheet.com/AvSB7-0S16QDyONNkLesPvdbUQPrSw6mu7xvD33tWiY/rs:fit:480:480:0/q:78/f:webp/czM6Ly9raXRlc2hlZXQvY29ycHVzL3NsaWRlcy9lNzhkMGI0Y2M0MGQvcDAwMS5qcGc",
      "thumbSrcAlt": "https://imgproxy.kitesheet.com/KaE_6_daxGy8b4ipan6QFPJE2h2c5oQ4T5gJzYqi7Wg/rs:fit:480:480:0/q:78/f:webp/czM6Ly9raXRlc2hlZXQvY29ycHVzL3NsaWRlcy9lNzhkMGI0Y2M0MGQvcDAwMS5wbmc"
    },
    {
      "docId": "019dd923-622b-71dc-a6db-ed0a3b577822",
      "docSlug": "e78d0b4cc40d",
      "documentTitle": "Bob Evans Farms, Inc. (BOBE)",
      "authorId": "08_Sandell",
      "authorName": "Sandell Asset Management",
      "documentKindSlug": "activist-deck",
      "documentKindLabel": "Activist deck",
      "sourceTypeSlug": "activist_investor",
      "sourceTypeLabel": "Activist investor",
      "presentationDate": "2016-08-22 00:00:00",
      "orientation": "landscape",
      "aspectRatio": 1.3333334,
      "pageNumber": 2,
      "slideType": "disclaimer",
      "function": "other",
      "notes": null,
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622b-71dc-a6db-ed0a3b577822/2",
      "deckHref": "/decks/019dd923-622b-71dc-a6db-ed0a3b577822",
      "deckAnchorHref": "/decks/019dd923-622b-71dc-a6db-ed0a3b577822#slide-2",
      "loopMatches": [],
      "arcBeatMatches": [],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622b-71dc-a6db-e931f56f1462",
      "docSlug": "d6d66fcf58f9",
      "documentTitle": "Brookdale Senior Living Inc. (BKD)",
      "authorId": "08_Sandell",
      "authorName": "Thomas Sandell",
      "documentKindSlug": "activist-deck",
      "documentKindLabel": "Activist deck",
      "sourceTypeSlug": "activist_investor",
      "sourceTypeLabel": "Activist investor",
      "presentationDate": "2015-02-01 00:00:00",
      "orientation": "landscape",
      "aspectRatio": 1.2941177,
      "pageNumber": 1,
      "slideType": "cover",
      "function": "front_matter",
      "notes": "The image is of Castlerigg Stone Circle, a nod to the firm's name, Sandell Castlerigg Investments.",
      "imagePath": "https://imgproxy.kitesheet.com/8UqJRmWRF367E_7F8HzafBMF0sWPhXFZt_hZmcKuEtE/rs:fit:1200:1200:0/q:82/f:webp/czM6Ly9raXRlc2hlZXQvY29ycHVzL3NsaWRlcy9kNmQ2NmZjZjU4ZjkvcDAwMS5qcGc",
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622b-71dc-a6db-e931f56f1462/1",
      "deckHref": "/decks/019dd923-622b-71dc-a6db-e931f56f1462",
      "deckAnchorHref": "/decks/019dd923-622b-71dc-a6db-e931f56f1462#slide-1",
      "loopMatches": [],
      "arcBeatMatches": [],
      "imagePathAlt": "https://imgproxy.kitesheet.com/80J8alZQwYiFXsbW3SZKKw9368pBoHFXz1DEwJW2hWc/rs:fit:1200:1200:0/q:82/f:webp/czM6Ly9raXRlc2hlZXQvY29ycHVzL3NsaWRlcy9kNmQ2NmZjZjU4ZjkvcDAwMS5wbmc",
      "thumbSrc": "https://imgproxy.kitesheet.com/M7pRQOJOtx1gPVG0weYnCCA9lYHvSQOAm2IkP2kzo48/rs:fit:480:480:0/q:78/f:webp/czM6Ly9raXRlc2hlZXQvY29ycHVzL3NsaWRlcy9kNmQ2NmZjZjU4ZjkvcDAwMS5qcGc",
      "thumbSrcAlt": "https://imgproxy.kitesheet.com/XLgsmotDMOXOcy1zFAXRTZ6372RHOsivDbtMaGl61pU/rs:fit:480:480:0/q:78/f:webp/czM6Ly9raXRlc2hlZXQvY29ycHVzL3NsaWRlcy9kNmQ2NmZjZjU4ZjkvcDAwMS5wbmc"
    },
    {
      "docId": "019dd923-622b-71dc-a6db-e931f56f1462",
      "docSlug": "d6d66fcf58f9",
      "documentTitle": "Brookdale Senior Living Inc. (BKD)",
      "authorId": "08_Sandell",
      "authorName": "Thomas Sandell",
      "documentKindSlug": "activist-deck",
      "documentKindLabel": "Activist deck",
      "sourceTypeSlug": "activist_investor",
      "sourceTypeLabel": "Activist investor",
      "presentationDate": "2015-02-01 00:00:00",
      "orientation": "landscape",
      "aspectRatio": 1.2941177,
      "pageNumber": 2,
      "slideType": "disclaimer",
      "function": "other",
      "notes": null,
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622b-71dc-a6db-e931f56f1462/2",
      "deckHref": "/decks/019dd923-622b-71dc-a6db-e931f56f1462",
      "deckAnchorHref": "/decks/019dd923-622b-71dc-a6db-e931f56f1462#slide-2",
      "loopMatches": [],
      "arcBeatMatches": [],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622b-71dc-a6db-e931f56f1462",
      "docSlug": "d6d66fcf58f9",
      "documentTitle": "Brookdale Senior Living Inc. (BKD)",
      "authorId": "08_Sandell",
      "authorName": "Thomas Sandell",
      "documentKindSlug": "activist-deck",
      "documentKindLabel": "Activist deck",
      "sourceTypeSlug": "activist_investor",
      "sourceTypeLabel": "Activist investor",
      "presentationDate": "2015-02-01 00:00:00",
      "orientation": "landscape",
      "aspectRatio": 1.2941177,
      "pageNumber": 3,
      "slideType": "executive_summary",
      "function": "summarize",
      "notes": "The slide outlines a two-step activist plan: real estate separation and board/governance overhaul.",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622b-71dc-a6db-e931f56f1462/3",
      "deckHref": "/decks/019dd923-622b-71dc-a6db-e931f56f1462",
      "deckAnchorHref": "/decks/019dd923-622b-71dc-a6db-e931f56f1462#slide-3",
      "loopMatches": [],
      "arcBeatMatches": [
        {
          "to": 4,
          "from": 3,
          "beatId": "37e0a88b-9b83-473f-9c5b-d434bb24ce95",
          "arcName": "Problem-Agitate-Solution",
          "arcSlug": "problem-agitate-solution",
          "beatName": "Problem",
          "beatSlug": "problem-agitate-solution-problem-identify-pain",
          "evidence": "The document identifies the problem of undervaluation and unused real estate value",
          "position": 0,
          "confidence": 0.8,
          "parentBeatName": "Complication",
          "parentBeatSlug": "complication"
        }
      ],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622b-71dc-a6db-e931f56f1462",
      "docSlug": "d6d66fcf58f9",
      "documentTitle": "Brookdale Senior Living Inc. (BKD)",
      "authorId": "08_Sandell",
      "authorName": "Thomas Sandell",
      "documentKindSlug": "activist-deck",
      "documentKindLabel": "Activist deck",
      "sourceTypeSlug": "activist_investor",
      "sourceTypeLabel": "Activist investor",
      "presentationDate": "2015-02-01 00:00:00",
      "orientation": "landscape",
      "aspectRatio": 1.2941177,
      "pageNumber": 4,
      "slideType": "executive_summary",
      "function": "establish_context",
      "notes": "Includes two pie charts detailing product mix and operating model.",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622b-71dc-a6db-e931f56f1462/4",
      "deckHref": "/decks/019dd923-622b-71dc-a6db-e931f56f1462",
      "deckAnchorHref": "/decks/019dd923-622b-71dc-a6db-e931f56f1462#slide-4",
      "loopMatches": [],
      "arcBeatMatches": [
        {
          "to": 4,
          "from": 3,
          "beatId": "37e0a88b-9b83-473f-9c5b-d434bb24ce95",
          "arcName": "Problem-Agitate-Solution",
          "arcSlug": "problem-agitate-solution",
          "beatName": "Problem",
          "beatSlug": "problem-agitate-solution-problem-identify-pain",
          "evidence": "The document identifies the problem of undervaluation and unused real estate value",
          "position": 0,
          "confidence": 0.8,
          "parentBeatName": "Complication",
          "parentBeatSlug": "complication"
        }
      ],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622b-71dc-a6db-e931f56f1462",
      "docSlug": "d6d66fcf58f9",
      "documentTitle": "Brookdale Senior Living Inc. (BKD)",
      "authorId": "08_Sandell",
      "authorName": "Thomas Sandell",
      "documentKindSlug": "activist-deck",
      "documentKindLabel": "Activist deck",
      "sourceTypeSlug": "activist_investor",
      "sourceTypeLabel": "Activist investor",
      "presentationDate": "2015-02-01 00:00:00",
      "orientation": "landscape",
      "aspectRatio": 1.2941177,
      "pageNumber": 5,
      "slideType": "kpi_overview",
      "function": "analyze_data",
      "notes": "The slide uses a hierarchical table structure to categorize 111,100 total units.",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622b-71dc-a6db-e931f56f1462/5",
      "deckHref": "/decks/019dd923-622b-71dc-a6db-e931f56f1462",
      "deckAnchorHref": "/decks/019dd923-622b-71dc-a6db-e931f56f1462#slide-5",
      "loopMatches": [
        {
          "to": 7,
          "from": 5,
          "name": "Cost Of Inaction",
          "slug": "27-cost-of-inaction",
          "bestFor": "Urgent budget requests, compliance, risk mitigation",
          "matchId": "32e5af80-76f8-481c-90e0-5f0832274b10",
          "evidence": "The document highlights the potential value of unused real estate",
          "position": 0,
          "objective": "Highlight the cost of not taking action to unlock shareholder value",
          "structure": "The Status Quo -> The Hidden Costs Accumulating -> The Future State of Inaction -> The Tipping Point",
          "confidence": 0.6,
          "description": "Quantify what happens if the audience does nothing"
        }
      ],
      "arcBeatMatches": [
        {
          "to": 7,
          "from": 5,
          "beatId": "d0eb9545-768a-4d6a-acee-ef1b9db46144",
          "arcName": "Problem-Agitate-Solution",
          "arcSlug": "problem-agitate-solution",
          "beatName": "Agitate",
          "beatSlug": "problem-agitate-solution-agitate-make-it-worse",
          "evidence": "The document highlights the unused real estate value and its potential impact on shareholder value",
          "position": 1,
          "confidence": 0.8,
          "parentBeatName": "Development",
          "parentBeatSlug": "development"
        }
      ],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622b-71dc-a6db-e931f56f1462",
      "docSlug": "d6d66fcf58f9",
      "documentTitle": "Brookdale Senior Living Inc. (BKD)",
      "authorId": "08_Sandell",
      "authorName": "Thomas Sandell",
      "documentKindSlug": "activist-deck",
      "documentKindLabel": "Activist deck",
      "sourceTypeSlug": "activist_investor",
      "sourceTypeLabel": "Activist investor",
      "presentationDate": "2015-02-01 00:00:00",
      "orientation": "landscape",
      "aspectRatio": 1.2941177,
      "pageNumber": 6,
      "slideType": "geographic_map",
      "function": "quantify_opportunity",
      "notes": "The slide uses a map to visualize market density and a bar chart to demonstrate the company's dominant unit count relative to the top 10 operators.",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622b-71dc-a6db-e931f56f1462/6",
      "deckHref": "/decks/019dd923-622b-71dc-a6db-e931f56f1462",
      "deckAnchorHref": "/decks/019dd923-622b-71dc-a6db-e931f56f1462#slide-6",
      "loopMatches": [
        {
          "to": 7,
          "from": 5,
          "name": "Cost Of Inaction",
          "slug": "27-cost-of-inaction",
          "bestFor": "Urgent budget requests, compliance, risk mitigation",
          "matchId": "32e5af80-76f8-481c-90e0-5f0832274b10",
          "evidence": "The document highlights the potential value of unused real estate",
          "position": 0,
          "objective": "Highlight the cost of not taking action to unlock shareholder value",
          "structure": "The Status Quo -> The Hidden Costs Accumulating -> The Future State of Inaction -> The Tipping Point",
          "confidence": 0.6,
          "description": "Quantify what happens if the audience does nothing"
        }
      ],
      "arcBeatMatches": [
        {
          "to": 7,
          "from": 5,
          "beatId": "d0eb9545-768a-4d6a-acee-ef1b9db46144",
          "arcName": "Problem-Agitate-Solution",
          "arcSlug": "problem-agitate-solution",
          "beatName": "Agitate",
          "beatSlug": "problem-agitate-solution-agitate-make-it-worse",
          "evidence": "The document highlights the unused real estate value and its potential impact on shareholder value",
          "position": 1,
          "confidence": 0.8,
          "parentBeatName": "Development",
          "parentBeatSlug": "development"
        }
      ],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622b-71dc-a6db-e931f56f1462",
      "docSlug": "d6d66fcf58f9",
      "documentTitle": "Brookdale Senior Living Inc. (BKD)",
      "authorId": "08_Sandell",
      "authorName": "Thomas Sandell",
      "documentKindSlug": "activist-deck",
      "documentKindLabel": "Activist deck",
      "sourceTypeSlug": "activist_investor",
      "sourceTypeLabel": "Activist investor",
      "presentationDate": "2015-02-01 00:00:00",
      "orientation": "landscape",
      "aspectRatio": 1.2941177,
      "pageNumber": 7,
      "slideType": "valuation_table",
      "function": "show_valuation_bridge",
      "notes": "The slide uses a hierarchical diagram to show the split of the parent company into two distinct valuation components.",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622b-71dc-a6db-e931f56f1462/7",
      "deckHref": "/decks/019dd923-622b-71dc-a6db-e931f56f1462",
      "deckAnchorHref": "/decks/019dd923-622b-71dc-a6db-e931f56f1462#slide-7",
      "loopMatches": [
        {
          "to": 7,
          "from": 5,
          "name": "Cost Of Inaction",
          "slug": "27-cost-of-inaction",
          "bestFor": "Urgent budget requests, compliance, risk mitigation",
          "matchId": "32e5af80-76f8-481c-90e0-5f0832274b10",
          "evidence": "The document highlights the potential value of unused real estate",
          "position": 0,
          "objective": "Highlight the cost of not taking action to unlock shareholder value",
          "structure": "The Status Quo -> The Hidden Costs Accumulating -> The Future State of Inaction -> The Tipping Point",
          "confidence": 0.6,
          "description": "Quantify what happens if the audience does nothing"
        }
      ],
      "arcBeatMatches": [
        {
          "to": 7,
          "from": 5,
          "beatId": "d0eb9545-768a-4d6a-acee-ef1b9db46144",
          "arcName": "Problem-Agitate-Solution",
          "arcSlug": "problem-agitate-solution",
          "beatName": "Agitate",
          "beatSlug": "problem-agitate-solution-agitate-make-it-worse",
          "evidence": "The document highlights the unused real estate value and its potential impact on shareholder value",
          "position": 1,
          "confidence": 0.8,
          "parentBeatName": "Development",
          "parentBeatSlug": "development"
        }
      ],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622b-71dc-a6db-e931f56f1462",
      "docSlug": "d6d66fcf58f9",
      "documentTitle": "Brookdale Senior Living Inc. (BKD)",
      "authorId": "08_Sandell",
      "authorName": "Thomas Sandell",
      "documentKindSlug": "activist-deck",
      "documentKindLabel": "Activist deck",
      "sourceTypeSlug": "activist_investor",
      "sourceTypeLabel": "Activist investor",
      "presentationDate": "2015-02-01 00:00:00",
      "orientation": "landscape",
      "aspectRatio": 1.2941177,
      "pageNumber": 8,
      "slideType": "matrix-2x2",
      "function": "present_framework",
      "notes": "The slide uses a 2x2 matrix to categorize corporate restructuring strategies, positioning PropCo/OpCo as a high-value, high-complexity solution.",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622b-71dc-a6db-e931f56f1462/8",
      "deckHref": "/decks/019dd923-622b-71dc-a6db-e931f56f1462",
      "deckAnchorHref": "/decks/019dd923-622b-71dc-a6db-e931f56f1462#slide-8",
      "loopMatches": [
        {
          "to": 12,
          "from": 8,
          "name": "Mece Breakdown",
          "slug": "40-mece-breakdown",
          "bestFor": "Problem structuring, ensuring completeness, strategic analysis",
          "matchId": "1eae7eca-533e-47e4-ab2a-4da66ec7bfac",
          "evidence": "The document provides a detailed analysis of the PropCo/OpCo structure",
          "position": 1,
          "objective": "Break down the PropCo/OpCo structure and its benefits",
          "structure": "The Whole -> Category A (distinct) -> Category B (distinct) -> Category C (distinct) -> Complete Coverage",
          "confidence": 0.7,
          "description": "Divide a complex topic into mutually exclusive, collectively exhaustive categories"
        }
      ],
      "arcBeatMatches": [
        {
          "to": 12,
          "from": 8,
          "beatId": "46a99536-915f-4f50-b434-e0d5dd3636ea",
          "arcName": "Problem-Agitate-Solution",
          "arcSlug": "problem-agitate-solution",
          "beatName": "Solution",
          "beatSlug": "problem-agitate-solution-solution-provide-relief",
          "evidence": "The document offers a solution through a PropCo/OpCo structure and provides supporting data and analysis",
          "position": 2,
          "confidence": 0.8,
          "parentBeatName": "Resolution",
          "parentBeatSlug": "resolution"
        }
      ],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622b-71dc-a6db-e931f56f1462",
      "docSlug": "d6d66fcf58f9",
      "documentTitle": "Brookdale Senior Living Inc. (BKD)",
      "authorId": "08_Sandell",
      "authorName": "Thomas Sandell",
      "documentKindSlug": "activist-deck",
      "documentKindLabel": "Activist deck",
      "sourceTypeSlug": "activist_investor",
      "sourceTypeLabel": "Activist investor",
      "presentationDate": "2015-02-01 00:00:00",
      "orientation": "landscape",
      "aspectRatio": 1.2941177,
      "pageNumber": 9,
      "slideType": "valuation_table",
      "function": "show_valuation_bridge",
      "notes": "The matrix uses arrows to visually anchor 'Current Price', 'Base Case', and 'Intrinsic Case' within the grid.",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622b-71dc-a6db-e931f56f1462/9",
      "deckHref": "/decks/019dd923-622b-71dc-a6db-e931f56f1462",
      "deckAnchorHref": "/decks/019dd923-622b-71dc-a6db-e931f56f1462#slide-9",
      "loopMatches": [
        {
          "to": 12,
          "from": 8,
          "name": "Mece Breakdown",
          "slug": "40-mece-breakdown",
          "bestFor": "Problem structuring, ensuring completeness, strategic analysis",
          "matchId": "1eae7eca-533e-47e4-ab2a-4da66ec7bfac",
          "evidence": "The document provides a detailed analysis of the PropCo/OpCo structure",
          "position": 1,
          "objective": "Break down the PropCo/OpCo structure and its benefits",
          "structure": "The Whole -> Category A (distinct) -> Category B (distinct) -> Category C (distinct) -> Complete Coverage",
          "confidence": 0.7,
          "description": "Divide a complex topic into mutually exclusive, collectively exhaustive categories"
        }
      ],
      "arcBeatMatches": [
        {
          "to": 12,
          "from": 8,
          "beatId": "46a99536-915f-4f50-b434-e0d5dd3636ea",
          "arcName": "Problem-Agitate-Solution",
          "arcSlug": "problem-agitate-solution",
          "beatName": "Solution",
          "beatSlug": "problem-agitate-solution-solution-provide-relief",
          "evidence": "The document offers a solution through a PropCo/OpCo structure and provides supporting data and analysis",
          "position": 2,
          "confidence": 0.8,
          "parentBeatName": "Resolution",
          "parentBeatSlug": "resolution"
        }
      ],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622b-71dc-a6db-e931f56f1462",
      "docSlug": "d6d66fcf58f9",
      "documentTitle": "Brookdale Senior Living Inc. (BKD)",
      "authorId": "08_Sandell",
      "authorName": "Thomas Sandell",
      "documentKindSlug": "activist-deck",
      "documentKindLabel": "Activist deck",
      "sourceTypeSlug": "activist_investor",
      "sourceTypeLabel": "Activist investor",
      "presentationDate": "2015-02-01 00:00:00",
      "orientation": "landscape",
      "aspectRatio": 1.2941177,
      "pageNumber": 10,
      "slideType": "valuation_table",
      "function": "show_valuation_bridge",
      "notes": "The chart shows a clear downward trend in cap rates over time, supporting the thesis of value surfacing.",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622b-71dc-a6db-e931f56f1462/10",
      "deckHref": "/decks/019dd923-622b-71dc-a6db-e931f56f1462",
      "deckAnchorHref": "/decks/019dd923-622b-71dc-a6db-e931f56f1462#slide-10",
      "loopMatches": [
        {
          "to": 12,
          "from": 8,
          "name": "Mece Breakdown",
          "slug": "40-mece-breakdown",
          "bestFor": "Problem structuring, ensuring completeness, strategic analysis",
          "matchId": "1eae7eca-533e-47e4-ab2a-4da66ec7bfac",
          "evidence": "The document provides a detailed analysis of the PropCo/OpCo structure",
          "position": 1,
          "objective": "Break down the PropCo/OpCo structure and its benefits",
          "structure": "The Whole -> Category A (distinct) -> Category B (distinct) -> Category C (distinct) -> Complete Coverage",
          "confidence": 0.7,
          "description": "Divide a complex topic into mutually exclusive, collectively exhaustive categories"
        }
      ],
      "arcBeatMatches": [
        {
          "to": 12,
          "from": 8,
          "beatId": "46a99536-915f-4f50-b434-e0d5dd3636ea",
          "arcName": "Problem-Agitate-Solution",
          "arcSlug": "problem-agitate-solution",
          "beatName": "Solution",
          "beatSlug": "problem-agitate-solution-solution-provide-relief",
          "evidence": "The document offers a solution through a PropCo/OpCo structure and provides supporting data and analysis",
          "position": 2,
          "confidence": 0.8,
          "parentBeatName": "Resolution",
          "parentBeatSlug": "resolution"
        }
      ],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622b-71dc-a6db-e931f56f1462",
      "docSlug": "d6d66fcf58f9",
      "documentTitle": "Brookdale Senior Living Inc. (BKD)",
      "authorId": "08_Sandell",
      "authorName": "Thomas Sandell",
      "documentKindSlug": "activist-deck",
      "documentKindLabel": "Activist deck",
      "sourceTypeSlug": "activist_investor",
      "sourceTypeLabel": "Activist investor",
      "presentationDate": "2015-02-01 00:00:00",
      "orientation": "landscape",
      "aspectRatio": 1.2941177,
      "pageNumber": 11,
      "slideType": "valuation_table",
      "function": "quantify_opportunity",
      "notes": "Includes two tables: a peer valuation table and an estimated NOI breakout table by asset type.",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622b-71dc-a6db-e931f56f1462/11",
      "deckHref": "/decks/019dd923-622b-71dc-a6db-e931f56f1462",
      "deckAnchorHref": "/decks/019dd923-622b-71dc-a6db-e931f56f1462#slide-11",
      "loopMatches": [
        {
          "to": 12,
          "from": 8,
          "name": "Mece Breakdown",
          "slug": "40-mece-breakdown",
          "bestFor": "Problem structuring, ensuring completeness, strategic analysis",
          "matchId": "1eae7eca-533e-47e4-ab2a-4da66ec7bfac",
          "evidence": "The document provides a detailed analysis of the PropCo/OpCo structure",
          "position": 1,
          "objective": "Break down the PropCo/OpCo structure and its benefits",
          "structure": "The Whole -> Category A (distinct) -> Category B (distinct) -> Category C (distinct) -> Complete Coverage",
          "confidence": 0.7,
          "description": "Divide a complex topic into mutually exclusive, collectively exhaustive categories"
        }
      ],
      "arcBeatMatches": [
        {
          "to": 12,
          "from": 8,
          "beatId": "46a99536-915f-4f50-b434-e0d5dd3636ea",
          "arcName": "Problem-Agitate-Solution",
          "arcSlug": "problem-agitate-solution",
          "beatName": "Solution",
          "beatSlug": "problem-agitate-solution-solution-provide-relief",
          "evidence": "The document offers a solution through a PropCo/OpCo structure and provides supporting data and analysis",
          "position": 2,
          "confidence": 0.8,
          "parentBeatName": "Resolution",
          "parentBeatSlug": "resolution"
        }
      ],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622b-71dc-a6db-e931f56f1462",
      "docSlug": "d6d66fcf58f9",
      "documentTitle": "Brookdale Senior Living Inc. (BKD)",
      "authorId": "08_Sandell",
      "authorName": "Thomas Sandell",
      "documentKindSlug": "activist-deck",
      "documentKindLabel": "Activist deck",
      "sourceTypeSlug": "activist_investor",
      "sourceTypeLabel": "Activist investor",
      "presentationDate": "2015-02-01 00:00:00",
      "orientation": "landscape",
      "aspectRatio": 1.2941177,
      "pageNumber": 12,
      "slideType": "valuation_reveal",
      "function": "show_valuation_bridge",
      "notes": "The slide uses a dual-axis line chart to argue that the timing is optimal for a PropCo/OpCo split based on market multiples.",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622b-71dc-a6db-e931f56f1462/12",
      "deckHref": "/decks/019dd923-622b-71dc-a6db-e931f56f1462",
      "deckAnchorHref": "/decks/019dd923-622b-71dc-a6db-e931f56f1462#slide-12",
      "loopMatches": [
        {
          "to": 12,
          "from": 8,
          "name": "Mece Breakdown",
          "slug": "40-mece-breakdown",
          "bestFor": "Problem structuring, ensuring completeness, strategic analysis",
          "matchId": "1eae7eca-533e-47e4-ab2a-4da66ec7bfac",
          "evidence": "The document provides a detailed analysis of the PropCo/OpCo structure",
          "position": 1,
          "objective": "Break down the PropCo/OpCo structure and its benefits",
          "structure": "The Whole -> Category A (distinct) -> Category B (distinct) -> Category C (distinct) -> Complete Coverage",
          "confidence": 0.7,
          "description": "Divide a complex topic into mutually exclusive, collectively exhaustive categories"
        }
      ],
      "arcBeatMatches": [
        {
          "to": 12,
          "from": 8,
          "beatId": "46a99536-915f-4f50-b434-e0d5dd3636ea",
          "arcName": "Problem-Agitate-Solution",
          "arcSlug": "problem-agitate-solution",
          "beatName": "Solution",
          "beatSlug": "problem-agitate-solution-solution-provide-relief",
          "evidence": "The document offers a solution through a PropCo/OpCo structure and provides supporting data and analysis",
          "position": 2,
          "confidence": 0.8,
          "parentBeatName": "Resolution",
          "parentBeatSlug": "resolution"
        }
      ],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622b-71dc-a6db-e931f56f1462",
      "docSlug": "d6d66fcf58f9",
      "documentTitle": "Brookdale Senior Living Inc. (BKD)",
      "authorId": "08_Sandell",
      "authorName": "Thomas Sandell",
      "documentKindSlug": "activist-deck",
      "documentKindLabel": "Activist deck",
      "sourceTypeSlug": "activist_investor",
      "sourceTypeLabel": "Activist investor",
      "presentationDate": "2015-02-01 00:00:00",
      "orientation": "landscape",
      "aspectRatio": 1.2941177,
      "pageNumber": 13,
      "slideType": "peer_benchmark",
      "function": "compare_peers",
      "notes": "The slide uses a comparison table to highlight governance deficiencies at BKD compared to peers like HCP, HCA, and MAR.",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622b-71dc-a6db-e931f56f1462/13",
      "deckHref": "/decks/019dd923-622b-71dc-a6db-e931f56f1462",
      "deckAnchorHref": "/decks/019dd923-622b-71dc-a6db-e931f56f1462#slide-13",
      "loopMatches": [],
      "arcBeatMatches": [],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622b-71dc-a6db-e931f56f1462",
      "docSlug": "d6d66fcf58f9",
      "documentTitle": "Brookdale Senior Living Inc. (BKD)",
      "authorId": "08_Sandell",
      "authorName": "Thomas Sandell",
      "documentKindSlug": "activist-deck",
      "documentKindLabel": "Activist deck",
      "sourceTypeSlug": "activist_investor",
      "sourceTypeLabel": "Activist investor",
      "presentationDate": "2015-02-01 00:00:00",
      "orientation": "landscape",
      "aspectRatio": 1.2941177,
      "pageNumber": 14,
      "slideType": "nominee_bio",
      "function": "introduce_nominees",
      "notes": "The slide uses a table to contrast director attributes, specifically highlighting the lack of 'Real Estate' experience across the board.",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622b-71dc-a6db-e931f56f1462/14",
      "deckHref": "/decks/019dd923-622b-71dc-a6db-e931f56f1462",
      "deckAnchorHref": "/decks/019dd923-622b-71dc-a6db-e931f56f1462#slide-14",
      "loopMatches": [],
      "arcBeatMatches": [],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622b-71dc-a6db-e931f56f1462",
      "docSlug": "d6d66fcf58f9",
      "documentTitle": "Brookdale Senior Living Inc. (BKD)",
      "authorId": "08_Sandell",
      "authorName": "Thomas Sandell",
      "documentKindSlug": "activist-deck",
      "documentKindLabel": "Activist deck",
      "sourceTypeSlug": "activist_investor",
      "sourceTypeLabel": "Activist investor",
      "presentationDate": "2015-02-01 00:00:00",
      "orientation": "landscape",
      "aspectRatio": 1.2941177,
      "pageNumber": 15,
      "slideType": "expose_contradiction",
      "function": "expose_contradiction",
      "notes": "The slide uses a table to illustrate the disconnect between executive pay components and shareholder-aligned metrics.",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622b-71dc-a6db-e931f56f1462/15",
      "deckHref": "/decks/019dd923-622b-71dc-a6db-e931f56f1462",
      "deckAnchorHref": "/decks/019dd923-622b-71dc-a6db-e931f56f1462#slide-15",
      "loopMatches": [],
      "arcBeatMatches": [],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622b-71dc-a6db-e931f56f1462",
      "docSlug": "d6d66fcf58f9",
      "documentTitle": "Brookdale Senior Living Inc. (BKD)",
      "authorId": "08_Sandell",
      "authorName": "Thomas Sandell",
      "documentKindSlug": "activist-deck",
      "documentKindLabel": "Activist deck",
      "sourceTypeSlug": "activist_investor",
      "sourceTypeLabel": "Activist investor",
      "presentationDate": "2015-02-01 00:00:00",
      "orientation": "landscape",
      "aspectRatio": 1.2941177,
      "pageNumber": 16,
      "slideType": "expose_contradiction",
      "function": "expose_contradiction",
      "notes": "Uses a process flow to highlight a discrepancy in corporate governance disclosures.",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622b-71dc-a6db-e931f56f1462/16",
      "deckHref": "/decks/019dd923-622b-71dc-a6db-e931f56f1462",
      "deckAnchorHref": "/decks/019dd923-622b-71dc-a6db-e931f56f1462#slide-16",
      "loopMatches": [],
      "arcBeatMatches": [],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622b-71dc-a6db-e931f56f1462",
      "docSlug": "d6d66fcf58f9",
      "documentTitle": "Brookdale Senior Living Inc. (BKD)",
      "authorId": "08_Sandell",
      "authorName": "Thomas Sandell",
      "documentKindSlug": "activist-deck",
      "documentKindLabel": "Activist deck",
      "sourceTypeSlug": "activist_investor",
      "sourceTypeLabel": "Activist investor",
      "presentationDate": "2015-02-01 00:00:00",
      "orientation": "landscape",
      "aspectRatio": 1.2941177,
      "pageNumber": 17,
      "slideType": "expose_contradiction",
      "function": "expose_contradiction",
      "notes": "Uses a before-and-after comparison of CFO quotes to highlight a contradiction in management's stance on real estate value unlocking.",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622b-71dc-a6db-e931f56f1462/17",
      "deckHref": "/decks/019dd923-622b-71dc-a6db-e931f56f1462",
      "deckAnchorHref": "/decks/019dd923-622b-71dc-a6db-e931f56f1462#slide-17",
      "loopMatches": [],
      "arcBeatMatches": [],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622b-71dc-a6db-e931f56f1462",
      "docSlug": "d6d66fcf58f9",
      "documentTitle": "Brookdale Senior Living Inc. (BKD)",
      "authorId": "08_Sandell",
      "authorName": "Thomas Sandell",
      "documentKindSlug": "activist-deck",
      "documentKindLabel": "Activist deck",
      "sourceTypeSlug": "activist_investor",
      "sourceTypeLabel": "Activist investor",
      "presentationDate": "2015-02-01 00:00:00",
      "orientation": "landscape",
      "aspectRatio": 1.2941177,
      "pageNumber": 18,
      "slideType": "cover",
      "function": "front_matter",
      "notes": "The image is of the Castlerigg Stone Circle in the Lake District, UK, which is the namesake of the firm.",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622b-71dc-a6db-e931f56f1462/18",
      "deckHref": "/decks/019dd923-622b-71dc-a6db-e931f56f1462",
      "deckAnchorHref": "/decks/019dd923-622b-71dc-a6db-e931f56f1462#slide-18",
      "loopMatches": [],
      "arcBeatMatches": [],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622b-71dc-a6db-e6b6bb0421c6",
      "docSlug": "e9bc06261f48",
      "documentTitle": "FirstGroup plc (FGP)",
      "authorId": "08_Sandell",
      "authorName": "Sandell Asset Management",
      "documentKindSlug": "activist-deck",
      "documentKindLabel": "Activist deck",
      "sourceTypeSlug": "activist_investor",
      "sourceTypeLabel": "Activist investor",
      "presentationDate": "2014-01-15 00:00:00",
      "orientation": "landscape",
      "aspectRatio": 1.4145161,
      "pageNumber": 17,
      "slideType": "expose_contradiction",
      "function": "expose_contradiction",
      "notes": "Uses a before-after framing to contrast performance periods.",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622b-71dc-a6db-e6b6bb0421c6/17",
      "deckHref": "/decks/019dd923-622b-71dc-a6db-e6b6bb0421c6",
      "deckAnchorHref": "/decks/019dd923-622b-71dc-a6db-e6b6bb0421c6#slide-17",
      "loopMatches": [
        {
          "to": 17,
          "from": 11,
          "name": "Logic Chain",
          "slug": "01-logic-chain",
          "bestFor": "Skeptical audiences, controversial recommendations, rigorous analysis",
          "matchId": "a83203fd-3014-49a9-b56a-32a411606e49",
          "evidence": "The presentation builds a clear logic chain for the problem",
          "position": 0,
          "objective": "Understand the problem",
          "structure": "Premise 1 (Accepted truth) -> Premise 2 (Observed fact) -> Therefore... (Inevitable conclusion)",
          "confidence": 0.8,
          "description": "Build an airtight chain of logic where each premise leads inevitably to the conclusion"
        }
      ],
      "arcBeatMatches": [
        {
          "to": 17,
          "from": 11,
          "beatId": "9ff54977-dfcc-4979-9c2f-440dd8607c0b",
          "arcName": "Problem-Agitate-Solution",
          "arcSlug": "problem-agitate-solution",
          "beatName": "Problem (Identify pain)",
          "beatSlug": "problem-agitate-solution-problem-identify-pain",
          "evidence": "The presentation highlights the company's complex business structure and value destruction",
          "position": 0,
          "confidence": 0.9,
          "parentBeatName": "Complication",
          "parentBeatSlug": "complication"
        }
      ],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622b-71dc-a6db-e6b6bb0421c6",
      "docSlug": "e9bc06261f48",
      "documentTitle": "FirstGroup plc (FGP)",
      "authorId": "08_Sandell",
      "authorName": "Sandell Asset Management",
      "documentKindSlug": "activist-deck",
      "documentKindLabel": "Activist deck",
      "sourceTypeSlug": "activist_investor",
      "sourceTypeLabel": "Activist investor",
      "presentationDate": "2014-01-15 00:00:00",
      "orientation": "landscape",
      "aspectRatio": 1.4145161,
      "pageNumber": 18,
      "slideType": "comparison_table",
      "function": "compare_peers",
      "notes": "The slide uses a matrix to segment business units by investor appeal (Income vs Growth/Turnaround) and geography.",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622b-71dc-a6db-e6b6bb0421c6/18",
      "deckHref": "/decks/019dd923-622b-71dc-a6db-e6b6bb0421c6",
      "deckAnchorHref": "/decks/019dd923-622b-71dc-a6db-e6b6bb0421c6#slide-18",
      "loopMatches": [],
      "arcBeatMatches": [
        {
          "to": 25,
          "from": 18,
          "beatId": "cdd92dd1-1c71-4d87-891c-138f69ff2307",
          "arcName": "Problem-Agitate-Solution",
          "arcSlug": "problem-agitate-solution",
          "beatName": "Agitate (Make it worse)",
          "beatSlug": "problem-agitate-solution-agitate-make-it-worse",
          "evidence": "The presentation emphasizes the need for immediate action",
          "position": 1,
          "confidence": 0.9,
          "parentBeatName": "Development",
          "parentBeatSlug": "development"
        }
      ],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622b-71dc-a6db-e6b6bb0421c6",
      "docSlug": "e9bc06261f48",
      "documentTitle": "FirstGroup plc (FGP)",
      "authorId": "08_Sandell",
      "authorName": "Sandell Asset Management",
      "documentKindSlug": "activist-deck",
      "documentKindLabel": "Activist deck",
      "sourceTypeSlug": "activist_investor",
      "sourceTypeLabel": "Activist investor",
      "presentationDate": "2014-01-15 00:00:00",
      "orientation": "landscape",
      "aspectRatio": 1.4145161,
      "pageNumber": 19,
      "slideType": "valuation_reveal",
      "function": "show_valuation_bridge",
      "notes": "Includes a line chart of Laidlaw EV/EBITDA and a table of Laidlaw revenue mix.",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622b-71dc-a6db-e6b6bb0421c6/19",
      "deckHref": "/decks/019dd923-622b-71dc-a6db-e6b6bb0421c6",
      "deckAnchorHref": "/decks/019dd923-622b-71dc-a6db-e6b6bb0421c6#slide-19",
      "loopMatches": [],
      "arcBeatMatches": [
        {
          "to": 25,
          "from": 18,
          "beatId": "cdd92dd1-1c71-4d87-891c-138f69ff2307",
          "arcName": "Problem-Agitate-Solution",
          "arcSlug": "problem-agitate-solution",
          "beatName": "Agitate (Make it worse)",
          "beatSlug": "problem-agitate-solution-agitate-make-it-worse",
          "evidence": "The presentation emphasizes the need for immediate action",
          "position": 1,
          "confidence": 0.9,
          "parentBeatName": "Development",
          "parentBeatSlug": "development"
        }
      ],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622b-71dc-a6db-e6b6bb0421c6",
      "docSlug": "e9bc06261f48",
      "documentTitle": "FirstGroup plc (FGP)",
      "authorId": "08_Sandell",
      "authorName": "Sandell Asset Management",
      "documentKindSlug": "activist-deck",
      "documentKindLabel": "Activist deck",
      "sourceTypeSlug": "activist_investor",
      "sourceTypeLabel": "Activist investor",
      "presentationDate": "2014-01-15 00:00:00",
      "orientation": "landscape",
      "aspectRatio": 1.4145161,
      "pageNumber": 20,
      "slideType": "propose_solution",
      "function": "propose_solution",
      "notes": "The slide uses a comparison table to contrast operational and financial benefits of the proposed model.",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622b-71dc-a6db-e6b6bb0421c6/20",
      "deckHref": "/decks/019dd923-622b-71dc-a6db-e6b6bb0421c6",
      "deckAnchorHref": "/decks/019dd923-622b-71dc-a6db-e6b6bb0421c6#slide-20",
      "loopMatches": [],
      "arcBeatMatches": [
        {
          "to": 25,
          "from": 18,
          "beatId": "cdd92dd1-1c71-4d87-891c-138f69ff2307",
          "arcName": "Problem-Agitate-Solution",
          "arcSlug": "problem-agitate-solution",
          "beatName": "Agitate (Make it worse)",
          "beatSlug": "problem-agitate-solution-agitate-make-it-worse",
          "evidence": "The presentation emphasizes the need for immediate action",
          "position": 1,
          "confidence": 0.9,
          "parentBeatName": "Development",
          "parentBeatSlug": "development"
        }
      ],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622b-71dc-a6db-e6b6bb0421c6",
      "docSlug": "e9bc06261f48",
      "documentTitle": "FirstGroup plc (FGP)",
      "authorId": "08_Sandell",
      "authorName": "Sandell Asset Management",
      "documentKindSlug": "activist-deck",
      "documentKindLabel": "Activist deck",
      "sourceTypeSlug": "activist_investor",
      "sourceTypeLabel": "Activist investor",
      "presentationDate": "2014-01-15 00:00:00",
      "orientation": "landscape",
      "aspectRatio": 1.4145161,
      "pageNumber": 21,
      "slideType": "preempt_rebuttal",
      "function": "preempt_rebuttal",
      "notes": "Includes a detailed 'STB Adjusted Yield Calculation' table to justify the yield premium argument.",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622b-71dc-a6db-e6b6bb0421c6/21",
      "deckHref": "/decks/019dd923-622b-71dc-a6db-e6b6bb0421c6",
      "deckAnchorHref": "/decks/019dd923-622b-71dc-a6db-e6b6bb0421c6#slide-21",
      "loopMatches": [],
      "arcBeatMatches": [
        {
          "to": 25,
          "from": 18,
          "beatId": "cdd92dd1-1c71-4d87-891c-138f69ff2307",
          "arcName": "Problem-Agitate-Solution",
          "arcSlug": "problem-agitate-solution",
          "beatName": "Agitate (Make it worse)",
          "beatSlug": "problem-agitate-solution-agitate-make-it-worse",
          "evidence": "The presentation emphasizes the need for immediate action",
          "position": 1,
          "confidence": 0.9,
          "parentBeatName": "Development",
          "parentBeatSlug": "development"
        }
      ],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622b-71dc-a6db-e6b6bb0421c6",
      "docSlug": "e9bc06261f48",
      "documentTitle": "FirstGroup plc (FGP)",
      "authorId": "08_Sandell",
      "authorName": "Sandell Asset Management",
      "documentKindSlug": "activist-deck",
      "documentKindLabel": "Activist deck",
      "sourceTypeSlug": "activist_investor",
      "sourceTypeLabel": "Activist investor",
      "presentationDate": "2014-01-15 00:00:00",
      "orientation": "landscape",
      "aspectRatio": 1.4145161,
      "pageNumber": 22,
      "slideType": "valuation_table",
      "function": "analyze_data",
      "notes": "The chart shows FGP LN beta averaging 1.00 vs STB CN beta averaging 0.34.",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622b-71dc-a6db-e6b6bb0421c6/22",
      "deckHref": "/decks/019dd923-622b-71dc-a6db-e6b6bb0421c6",
      "deckAnchorHref": "/decks/019dd923-622b-71dc-a6db-e6b6bb0421c6#slide-22",
      "loopMatches": [],
      "arcBeatMatches": [
        {
          "to": 25,
          "from": 18,
          "beatId": "cdd92dd1-1c71-4d87-891c-138f69ff2307",
          "arcName": "Problem-Agitate-Solution",
          "arcSlug": "problem-agitate-solution",
          "beatName": "Agitate (Make it worse)",
          "beatSlug": "problem-agitate-solution-agitate-make-it-worse",
          "evidence": "The presentation emphasizes the need for immediate action",
          "position": 1,
          "confidence": 0.9,
          "parentBeatName": "Development",
          "parentBeatSlug": "development"
        }
      ],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622b-71dc-a6db-e6b6bb0421c6",
      "docSlug": "e9bc06261f48",
      "documentTitle": "FirstGroup plc (FGP)",
      "authorId": "08_Sandell",
      "authorName": "Sandell Asset Management",
      "documentKindSlug": "activist-deck",
      "documentKindLabel": "Activist deck",
      "sourceTypeSlug": "activist_investor",
      "sourceTypeLabel": "Activist investor",
      "presentationDate": "2014-01-15 00:00:00",
      "orientation": "landscape",
      "aspectRatio": 1.4145161,
      "pageNumber": 23,
      "slideType": "timeline",
      "function": "diagnose_problem",
      "notes": "The slide uses a timeline to illustrate a pattern of recurring failure, supporting the activist's argument for management change.",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622b-71dc-a6db-e6b6bb0421c6/23",
      "deckHref": "/decks/019dd923-622b-71dc-a6db-e6b6bb0421c6",
      "deckAnchorHref": "/decks/019dd923-622b-71dc-a6db-e6b6bb0421c6#slide-23",
      "loopMatches": [],
      "arcBeatMatches": [
        {
          "to": 25,
          "from": 18,
          "beatId": "cdd92dd1-1c71-4d87-891c-138f69ff2307",
          "arcName": "Problem-Agitate-Solution",
          "arcSlug": "problem-agitate-solution",
          "beatName": "Agitate (Make it worse)",
          "beatSlug": "problem-agitate-solution-agitate-make-it-worse",
          "evidence": "The presentation emphasizes the need for immediate action",
          "position": 1,
          "confidence": 0.9,
          "parentBeatName": "Development",
          "parentBeatSlug": "development"
        }
      ],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622b-71dc-a6db-e6b6bb0421c6",
      "docSlug": "e9bc06261f48",
      "documentTitle": "FirstGroup plc (FGP)",
      "authorId": "08_Sandell",
      "authorName": "Sandell Asset Management",
      "documentKindSlug": "activist-deck",
      "documentKindLabel": "Activist deck",
      "sourceTypeSlug": "activist_investor",
      "sourceTypeLabel": "Activist investor",
      "presentationDate": "2014-01-15 00:00:00",
      "orientation": "landscape",
      "aspectRatio": 1.4145161,
      "pageNumber": 24,
      "slideType": "expose_contradiction",
      "function": "expose_contradiction",
      "notes": "The slide uses three line charts to correlate corporate events (Laidlaw acquisition, Rights Issue) with negative financial performance metrics.",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622b-71dc-a6db-e6b6bb0421c6/24",
      "deckHref": "/decks/019dd923-622b-71dc-a6db-e6b6bb0421c6",
      "deckAnchorHref": "/decks/019dd923-622b-71dc-a6db-e6b6bb0421c6#slide-24",
      "loopMatches": [],
      "arcBeatMatches": [
        {
          "to": 25,
          "from": 18,
          "beatId": "cdd92dd1-1c71-4d87-891c-138f69ff2307",
          "arcName": "Problem-Agitate-Solution",
          "arcSlug": "problem-agitate-solution",
          "beatName": "Agitate (Make it worse)",
          "beatSlug": "problem-agitate-solution-agitate-make-it-worse",
          "evidence": "The presentation emphasizes the need for immediate action",
          "position": 1,
          "confidence": 0.9,
          "parentBeatName": "Development",
          "parentBeatSlug": "development"
        }
      ],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622b-71dc-a6db-e6b6bb0421c6",
      "docSlug": "e9bc06261f48",
      "documentTitle": "FirstGroup plc (FGP)",
      "authorId": "08_Sandell",
      "authorName": "Sandell Asset Management",
      "documentKindSlug": "activist-deck",
      "documentKindLabel": "Activist deck",
      "sourceTypeSlug": "activist_investor",
      "sourceTypeLabel": "Activist investor",
      "presentationDate": "2014-01-15 00:00:00",
      "orientation": "landscape",
      "aspectRatio": 1.4145161,
      "pageNumber": 25,
      "slideType": "expose_contradiction",
      "function": "expose_contradiction",
      "notes": "Uses a stock performance chart to illustrate the 'cost' of poor management accountability.",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622b-71dc-a6db-e6b6bb0421c6/25",
      "deckHref": "/decks/019dd923-622b-71dc-a6db-e6b6bb0421c6",
      "deckAnchorHref": "/decks/019dd923-622b-71dc-a6db-e6b6bb0421c6#slide-25",
      "loopMatches": [],
      "arcBeatMatches": [
        {
          "to": 25,
          "from": 18,
          "beatId": "cdd92dd1-1c71-4d87-891c-138f69ff2307",
          "arcName": "Problem-Agitate-Solution",
          "arcSlug": "problem-agitate-solution",
          "beatName": "Agitate (Make it worse)",
          "beatSlug": "problem-agitate-solution-agitate-make-it-worse",
          "evidence": "The presentation emphasizes the need for immediate action",
          "position": 1,
          "confidence": 0.9,
          "parentBeatName": "Development",
          "parentBeatSlug": "development"
        }
      ],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622b-71dc-a6db-e6b6bb0421c6",
      "docSlug": "e9bc06261f48",
      "documentTitle": "FirstGroup plc (FGP)",
      "authorId": "08_Sandell",
      "authorName": "Sandell Asset Management",
      "documentKindSlug": "activist-deck",
      "documentKindLabel": "Activist deck",
      "sourceTypeSlug": "activist_investor",
      "sourceTypeLabel": "Activist investor",
      "presentationDate": "2014-01-15 00:00:00",
      "orientation": "landscape",
      "aspectRatio": 1.4145161,
      "pageNumber": 26,
      "slideType": "valuation_table",
      "function": "quantify_opportunity",
      "notes": "The table compares the cost of debt retirement (Total Cash Spent) against the NPV of future interest savings.",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622b-71dc-a6db-e6b6bb0421c6/26",
      "deckHref": "/decks/019dd923-622b-71dc-a6db-e6b6bb0421c6",
      "deckAnchorHref": "/decks/019dd923-622b-71dc-a6db-e6b6bb0421c6#slide-26",
      "loopMatches": [],
      "arcBeatMatches": [],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622b-71dc-a6db-e6b6bb0421c6",
      "docSlug": "e9bc06261f48",
      "documentTitle": "FirstGroup plc (FGP)",
      "authorId": "08_Sandell",
      "authorName": "Sandell Asset Management",
      "documentKindSlug": "activist-deck",
      "documentKindLabel": "Activist deck",
      "sourceTypeSlug": "activist_investor",
      "sourceTypeLabel": "Activist investor",
      "presentationDate": "2014-01-15 00:00:00",
      "orientation": "landscape",
      "aspectRatio": 1.4145161,
      "pageNumber": 27,
      "slideType": "transition",
      "function": "transition",
      "notes": null,
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622b-71dc-a6db-e6b6bb0421c6/27",
      "deckHref": "/decks/019dd923-622b-71dc-a6db-e6b6bb0421c6",
      "deckAnchorHref": "/decks/019dd923-622b-71dc-a6db-e6b6bb0421c6#slide-27",
      "loopMatches": [],
      "arcBeatMatches": [],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622b-71dc-a6db-e6b6bb0421c6",
      "docSlug": "e9bc06261f48",
      "documentTitle": "FirstGroup plc (FGP)",
      "authorId": "08_Sandell",
      "authorName": "Sandell Asset Management",
      "documentKindSlug": "activist-deck",
      "documentKindLabel": "Activist deck",
      "sourceTypeSlug": "activist_investor",
      "sourceTypeLabel": "Activist investor",
      "presentationDate": "2014-01-15 00:00:00",
      "orientation": "landscape",
      "aspectRatio": 1.4145161,
      "pageNumber": 28,
      "slideType": "preempt_rebuttal",
      "function": "preempt_rebuttal",
      "notes": "The slide uses a Q&A format to preemptively address market skepticism regarding valuation comparables.",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622b-71dc-a6db-e6b6bb0421c6/28",
      "deckHref": "/decks/019dd923-622b-71dc-a6db-e6b6bb0421c6",
      "deckAnchorHref": "/decks/019dd923-622b-71dc-a6db-e6b6bb0421c6#slide-28",
      "loopMatches": [],
      "arcBeatMatches": [],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622b-71dc-a6db-e6b6bb0421c6",
      "docSlug": "e9bc06261f48",
      "documentTitle": "FirstGroup plc (FGP)",
      "authorId": "08_Sandell",
      "authorName": "Sandell Asset Management",
      "documentKindSlug": "activist-deck",
      "documentKindLabel": "Activist deck",
      "sourceTypeSlug": "activist_investor",
      "sourceTypeLabel": "Activist investor",
      "presentationDate": "2014-01-15 00:00:00",
      "orientation": "landscape",
      "aspectRatio": 1.4145161,
      "pageNumber": 29,
      "slideType": "preempt_rebuttal",
      "function": "preempt_rebuttal",
      "notes": null,
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622b-71dc-a6db-e6b6bb0421c6/29",
      "deckHref": "/decks/019dd923-622b-71dc-a6db-e6b6bb0421c6",
      "deckAnchorHref": "/decks/019dd923-622b-71dc-a6db-e6b6bb0421c6#slide-29",
      "loopMatches": [],
      "arcBeatMatches": [],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622b-71dc-a6db-e6b6bb0421c6",
      "docSlug": "e9bc06261f48",
      "documentTitle": "FirstGroup plc (FGP)",
      "authorId": "08_Sandell",
      "authorName": "Sandell Asset Management",
      "documentKindSlug": "activist-deck",
      "documentKindLabel": "Activist deck",
      "sourceTypeSlug": "activist_investor",
      "sourceTypeLabel": "Activist investor",
      "presentationDate": "2014-01-15 00:00:00",
      "orientation": "landscape",
      "aspectRatio": 1.4145161,
      "pageNumber": 30,
      "slideType": "preempt_rebuttal",
      "function": "preempt_rebuttal",
      "notes": "The slide uses a two-column table format to address specific investor/stakeholder questions regarding the Greyhound asset.",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622b-71dc-a6db-e6b6bb0421c6/30",
      "deckHref": "/decks/019dd923-622b-71dc-a6db-e6b6bb0421c6",
      "deckAnchorHref": "/decks/019dd923-622b-71dc-a6db-e6b6bb0421c6#slide-30",
      "loopMatches": [],
      "arcBeatMatches": [],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622b-71dc-a6db-e6b6bb0421c6",
      "docSlug": "e9bc06261f48",
      "documentTitle": "FirstGroup plc (FGP)",
      "authorId": "08_Sandell",
      "authorName": "Sandell Asset Management",
      "documentKindSlug": "activist-deck",
      "documentKindLabel": "Activist deck",
      "sourceTypeSlug": "activist_investor",
      "sourceTypeLabel": "Activist investor",
      "presentationDate": "2014-01-15 00:00:00",
      "orientation": "landscape",
      "aspectRatio": 1.4145161,
      "pageNumber": 31,
      "slideType": "preempt_rebuttal",
      "function": "preempt_rebuttal",
      "notes": "The slide uses a Q&A format to preemptively address investor concerns about the urgency of the activist's proposal.",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622b-71dc-a6db-e6b6bb0421c6/31",
      "deckHref": "/decks/019dd923-622b-71dc-a6db-e6b6bb0421c6",
      "deckAnchorHref": "/decks/019dd923-622b-71dc-a6db-e6b6bb0421c6#slide-31",
      "loopMatches": [],
      "arcBeatMatches": [],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622b-71dc-a6db-e6b6bb0421c6",
      "docSlug": "e9bc06261f48",
      "documentTitle": "FirstGroup plc (FGP)",
      "authorId": "08_Sandell",
      "authorName": "Sandell Asset Management",
      "documentKindSlug": "activist-deck",
      "documentKindLabel": "Activist deck",
      "sourceTypeSlug": "activist_investor",
      "sourceTypeLabel": "Activist investor",
      "presentationDate": "2014-01-15 00:00:00",
      "orientation": "landscape",
      "aspectRatio": 1.4145161,
      "pageNumber": 32,
      "slideType": "preempt_rebuttal",
      "function": "preempt_rebuttal",
      "notes": "The slide uses a Q&A table format to frame the activist's proposal as a logical evolution of the company's previous actions.",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622b-71dc-a6db-e6b6bb0421c6/32",
      "deckHref": "/decks/019dd923-622b-71dc-a6db-e6b6bb0421c6",
      "deckAnchorHref": "/decks/019dd923-622b-71dc-a6db-e6b6bb0421c6#slide-32",
      "loopMatches": [],
      "arcBeatMatches": [],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622b-71dc-a6db-e6b6bb0421c6",
      "docSlug": "e9bc06261f48",
      "documentTitle": "FirstGroup plc (FGP)",
      "authorId": "08_Sandell",
      "authorName": "Sandell Asset Management",
      "documentKindSlug": "activist-deck",
      "documentKindLabel": "Activist deck",
      "sourceTypeSlug": "activist_investor",
      "sourceTypeLabel": "Activist investor",
      "presentationDate": "2014-01-15 00:00:00",
      "orientation": "landscape",
      "aspectRatio": 1.4145161,
      "pageNumber": 33,
      "slideType": "preempt_rebuttal",
      "function": "preempt_rebuttal",
      "notes": null,
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622b-71dc-a6db-e6b6bb0421c6/33",
      "deckHref": "/decks/019dd923-622b-71dc-a6db-e6b6bb0421c6",
      "deckAnchorHref": "/decks/019dd923-622b-71dc-a6db-e6b6bb0421c6#slide-33",
      "loopMatches": [],
      "arcBeatMatches": [],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622b-71dc-a6db-e6b6bb0421c6",
      "docSlug": "e9bc06261f48",
      "documentTitle": "FirstGroup plc (FGP)",
      "authorId": "08_Sandell",
      "authorName": "Sandell Asset Management",
      "documentKindSlug": "activist-deck",
      "documentKindLabel": "Activist deck",
      "sourceTypeSlug": "activist_investor",
      "sourceTypeLabel": "Activist investor",
      "presentationDate": "2014-01-15 00:00:00",
      "orientation": "landscape",
      "aspectRatio": 1.4145161,
      "pageNumber": 34,
      "slideType": "preempt_rebuttal",
      "function": "preempt_rebuttal",
      "notes": null,
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622b-71dc-a6db-e6b6bb0421c6/34",
      "deckHref": "/decks/019dd923-622b-71dc-a6db-e6b6bb0421c6",
      "deckAnchorHref": "/decks/019dd923-622b-71dc-a6db-e6b6bb0421c6#slide-34",
      "loopMatches": [],
      "arcBeatMatches": [],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622b-71dc-a6db-e6b6bb0421c6",
      "docSlug": "e9bc06261f48",
      "documentTitle": "FirstGroup plc (FGP)",
      "authorId": "08_Sandell",
      "authorName": "Sandell Asset Management",
      "documentKindSlug": "activist-deck",
      "documentKindLabel": "Activist deck",
      "sourceTypeSlug": "activist_investor",
      "sourceTypeLabel": "Activist investor",
      "presentationDate": "2014-01-15 00:00:00",
      "orientation": "landscape",
      "aspectRatio": 1.4145161,
      "pageNumber": 35,
      "slideType": "section_divider",
      "function": "transition",
      "notes": null,
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622b-71dc-a6db-e6b6bb0421c6/35",
      "deckHref": "/decks/019dd923-622b-71dc-a6db-e6b6bb0421c6",
      "deckAnchorHref": "/decks/019dd923-622b-71dc-a6db-e6b6bb0421c6#slide-35",
      "loopMatches": [],
      "arcBeatMatches": [],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622b-71dc-a6db-e6b6bb0421c6",
      "docSlug": "e9bc06261f48",
      "documentTitle": "FirstGroup plc (FGP)",
      "authorId": "08_Sandell",
      "authorName": "Sandell Asset Management",
      "documentKindSlug": "activist-deck",
      "documentKindLabel": "Activist deck",
      "sourceTypeSlug": "activist_investor",
      "sourceTypeLabel": "Activist investor",
      "presentationDate": "2014-01-15 00:00:00",
      "orientation": "landscape",
      "aspectRatio": 1.4145161,
      "pageNumber": 36,
      "slideType": "valuation_table",
      "function": "show_valuation_bridge",
      "notes": "Includes detailed footnotes explaining valuation assumptions and methodology.",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622b-71dc-a6db-e6b6bb0421c6/36",
      "deckHref": "/decks/019dd923-622b-71dc-a6db-e6b6bb0421c6",
      "deckAnchorHref": "/decks/019dd923-622b-71dc-a6db-e6b6bb0421c6#slide-36",
      "loopMatches": [
        {
          "to": 42,
          "from": 36,
          "name": "The Reveal",
          "slug": "05-the-reveal",
          "bestFor": "Product launches, strategic pivots, unexpected findings",
          "matchId": "30577019-9e8c-42b6-bfc3-a8d62d5dd253",
          "evidence": "The presentation reveals the details of Sandell Asset Management's plan",
          "position": 1,
          "objective": "Reveal the solution",
          "structure": "Setup the Question -> Build Suspense -> The Big Reveal",
          "confidence": 0.8,
          "description": "Build mystery and anticipation, then deliver a surprising or powerful conclusion"
        }
      ],
      "arcBeatMatches": [
        {
          "to": 53,
          "from": 36,
          "beatId": "9e0d5a29-f609-49c6-9492-9845c1650e7d",
          "arcName": "Problem-Agitate-Solution",
          "arcSlug": "problem-agitate-solution",
          "beatName": "Solution (Provide relief)",
          "beatSlug": "problem-agitate-solution-solution-provide-relief",
          "evidence": "The presentation outlines Sandell Asset Management's plan for improvement",
          "position": 2,
          "confidence": 0.9,
          "parentBeatName": "Resolution",
          "parentBeatSlug": "resolution"
        }
      ],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622b-71dc-a6db-e6b6bb0421c6",
      "docSlug": "e9bc06261f48",
      "documentTitle": "FirstGroup plc (FGP)",
      "authorId": "08_Sandell",
      "authorName": "Sandell Asset Management",
      "documentKindSlug": "activist-deck",
      "documentKindLabel": "Activist deck",
      "sourceTypeSlug": "activist_investor",
      "sourceTypeLabel": "Activist investor",
      "presentationDate": "2014-01-15 00:00:00",
      "orientation": "landscape",
      "aspectRatio": 1.4145161,
      "pageNumber": 37,
      "slideType": "propose_solution",
      "function": "propose_solution",
      "notes": "Includes detailed financial tables for pro forma capital structure, credit metrics, and valuation scenarios.",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622b-71dc-a6db-e6b6bb0421c6/37",
      "deckHref": "/decks/019dd923-622b-71dc-a6db-e6b6bb0421c6",
      "deckAnchorHref": "/decks/019dd923-622b-71dc-a6db-e6b6bb0421c6#slide-37",
      "loopMatches": [
        {
          "to": 42,
          "from": 36,
          "name": "The Reveal",
          "slug": "05-the-reveal",
          "bestFor": "Product launches, strategic pivots, unexpected findings",
          "matchId": "30577019-9e8c-42b6-bfc3-a8d62d5dd253",
          "evidence": "The presentation reveals the details of Sandell Asset Management's plan",
          "position": 1,
          "objective": "Reveal the solution",
          "structure": "Setup the Question -> Build Suspense -> The Big Reveal",
          "confidence": 0.8,
          "description": "Build mystery and anticipation, then deliver a surprising or powerful conclusion"
        }
      ],
      "arcBeatMatches": [
        {
          "to": 53,
          "from": 36,
          "beatId": "9e0d5a29-f609-49c6-9492-9845c1650e7d",
          "arcName": "Problem-Agitate-Solution",
          "arcSlug": "problem-agitate-solution",
          "beatName": "Solution (Provide relief)",
          "beatSlug": "problem-agitate-solution-solution-provide-relief",
          "evidence": "The presentation outlines Sandell Asset Management's plan for improvement",
          "position": 2,
          "confidence": 0.9,
          "parentBeatName": "Resolution",
          "parentBeatSlug": "resolution"
        }
      ],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622b-71dc-a6db-e6b6bb0421c6",
      "docSlug": "e9bc06261f48",
      "documentTitle": "FirstGroup plc (FGP)",
      "authorId": "08_Sandell",
      "authorName": "Sandell Asset Management",
      "documentKindSlug": "activist-deck",
      "documentKindLabel": "Activist deck",
      "sourceTypeSlug": "activist_investor",
      "sourceTypeLabel": "Activist investor",
      "presentationDate": "2014-01-15 00:00:00",
      "orientation": "landscape",
      "aspectRatio": 1.4145161,
      "pageNumber": 38,
      "slideType": "appendix_data",
      "function": "analyze_data",
      "notes": "The table provides a multi-year financial bridge from EBITDA to FCF.",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622b-71dc-a6db-e6b6bb0421c6/38",
      "deckHref": "/decks/019dd923-622b-71dc-a6db-e6b6bb0421c6",
      "deckAnchorHref": "/decks/019dd923-622b-71dc-a6db-e6b6bb0421c6#slide-38",
      "loopMatches": [
        {
          "to": 42,
          "from": 36,
          "name": "The Reveal",
          "slug": "05-the-reveal",
          "bestFor": "Product launches, strategic pivots, unexpected findings",
          "matchId": "30577019-9e8c-42b6-bfc3-a8d62d5dd253",
          "evidence": "The presentation reveals the details of Sandell Asset Management's plan",
          "position": 1,
          "objective": "Reveal the solution",
          "structure": "Setup the Question -> Build Suspense -> The Big Reveal",
          "confidence": 0.8,
          "description": "Build mystery and anticipation, then deliver a surprising or powerful conclusion"
        }
      ],
      "arcBeatMatches": [
        {
          "to": 53,
          "from": 36,
          "beatId": "9e0d5a29-f609-49c6-9492-9845c1650e7d",
          "arcName": "Problem-Agitate-Solution",
          "arcSlug": "problem-agitate-solution",
          "beatName": "Solution (Provide relief)",
          "beatSlug": "problem-agitate-solution-solution-provide-relief",
          "evidence": "The presentation outlines Sandell Asset Management's plan for improvement",
          "position": 2,
          "confidence": 0.9,
          "parentBeatName": "Resolution",
          "parentBeatSlug": "resolution"
        }
      ],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622b-71dc-a6db-e6b6bb0421c6",
      "docSlug": "e9bc06261f48",
      "documentTitle": "FirstGroup plc (FGP)",
      "authorId": "08_Sandell",
      "authorName": "Sandell Asset Management",
      "documentKindSlug": "activist-deck",
      "documentKindLabel": "Activist deck",
      "sourceTypeSlug": "activist_investor",
      "sourceTypeLabel": "Activist investor",
      "presentationDate": "2014-01-15 00:00:00",
      "orientation": "landscape",
      "aspectRatio": 1.4145161,
      "pageNumber": 39,
      "slideType": "appendix_data",
      "function": "analyze_data",
      "notes": "The slide argues that income stocks should be valued on cash flow after maintenance capex, excluding one-time growth investments.",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622b-71dc-a6db-e6b6bb0421c6/39",
      "deckHref": "/decks/019dd923-622b-71dc-a6db-e6b6bb0421c6",
      "deckAnchorHref": "/decks/019dd923-622b-71dc-a6db-e6b6bb0421c6#slide-39",
      "loopMatches": [
        {
          "to": 42,
          "from": 36,
          "name": "The Reveal",
          "slug": "05-the-reveal",
          "bestFor": "Product launches, strategic pivots, unexpected findings",
          "matchId": "30577019-9e8c-42b6-bfc3-a8d62d5dd253",
          "evidence": "The presentation reveals the details of Sandell Asset Management's plan",
          "position": 1,
          "objective": "Reveal the solution",
          "structure": "Setup the Question -> Build Suspense -> The Big Reveal",
          "confidence": 0.8,
          "description": "Build mystery and anticipation, then deliver a surprising or powerful conclusion"
        }
      ],
      "arcBeatMatches": [
        {
          "to": 53,
          "from": 36,
          "beatId": "9e0d5a29-f609-49c6-9492-9845c1650e7d",
          "arcName": "Problem-Agitate-Solution",
          "arcSlug": "problem-agitate-solution",
          "beatName": "Solution (Provide relief)",
          "beatSlug": "problem-agitate-solution-solution-provide-relief",
          "evidence": "The presentation outlines Sandell Asset Management's plan for improvement",
          "position": 2,
          "confidence": 0.9,
          "parentBeatName": "Resolution",
          "parentBeatSlug": "resolution"
        }
      ],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622b-71dc-a6db-e6b6bb0421c6",
      "docSlug": "e9bc06261f48",
      "documentTitle": "FirstGroup plc (FGP)",
      "authorId": "08_Sandell",
      "authorName": "Sandell Asset Management",
      "documentKindSlug": "activist-deck",
      "documentKindLabel": "Activist deck",
      "sourceTypeSlug": "activist_investor",
      "sourceTypeLabel": "Activist investor",
      "presentationDate": "2014-01-15 00:00:00",
      "orientation": "landscape",
      "aspectRatio": 1.4145161,
      "pageNumber": 40,
      "slideType": "valuation_table",
      "function": "show_valuation_bridge",
      "notes": "The slide argues for the sale of Greyhound to focus on UK turnaround efforts and provides a valuation estimate based on 10x-10.5x EBITA multiples.",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622b-71dc-a6db-e6b6bb0421c6/40",
      "deckHref": "/decks/019dd923-622b-71dc-a6db-e6b6bb0421c6",
      "deckAnchorHref": "/decks/019dd923-622b-71dc-a6db-e6b6bb0421c6#slide-40",
      "loopMatches": [
        {
          "to": 42,
          "from": 36,
          "name": "The Reveal",
          "slug": "05-the-reveal",
          "bestFor": "Product launches, strategic pivots, unexpected findings",
          "matchId": "30577019-9e8c-42b6-bfc3-a8d62d5dd253",
          "evidence": "The presentation reveals the details of Sandell Asset Management's plan",
          "position": 1,
          "objective": "Reveal the solution",
          "structure": "Setup the Question -> Build Suspense -> The Big Reveal",
          "confidence": 0.8,
          "description": "Build mystery and anticipation, then deliver a surprising or powerful conclusion"
        }
      ],
      "arcBeatMatches": [
        {
          "to": 53,
          "from": 36,
          "beatId": "9e0d5a29-f609-49c6-9492-9845c1650e7d",
          "arcName": "Problem-Agitate-Solution",
          "arcSlug": "problem-agitate-solution",
          "beatName": "Solution (Provide relief)",
          "beatSlug": "problem-agitate-solution-solution-provide-relief",
          "evidence": "The presentation outlines Sandell Asset Management's plan for improvement",
          "position": 2,
          "confidence": 0.9,
          "parentBeatName": "Resolution",
          "parentBeatSlug": "resolution"
        }
      ],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622b-71dc-a6db-e6b6bb0421c6",
      "docSlug": "e9bc06261f48",
      "documentTitle": "FirstGroup plc (FGP)",
      "authorId": "08_Sandell",
      "authorName": "Sandell Asset Management",
      "documentKindSlug": "activist-deck",
      "documentKindLabel": "Activist deck",
      "sourceTypeSlug": "activist_investor",
      "sourceTypeLabel": "Activist investor",
      "presentationDate": "2014-01-15 00:00:00",
      "orientation": "landscape",
      "aspectRatio": 1.4145161,
      "pageNumber": 41,
      "slideType": "propose_solution",
      "function": "propose_solution",
      "notes": "Includes detailed pro forma capital structure and valuation metrics for base and high scenarios.",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622b-71dc-a6db-e6b6bb0421c6/41",
      "deckHref": "/decks/019dd923-622b-71dc-a6db-e6b6bb0421c6",
      "deckAnchorHref": "/decks/019dd923-622b-71dc-a6db-e6b6bb0421c6#slide-41",
      "loopMatches": [
        {
          "to": 42,
          "from": 36,
          "name": "The Reveal",
          "slug": "05-the-reveal",
          "bestFor": "Product launches, strategic pivots, unexpected findings",
          "matchId": "30577019-9e8c-42b6-bfc3-a8d62d5dd253",
          "evidence": "The presentation reveals the details of Sandell Asset Management's plan",
          "position": 1,
          "objective": "Reveal the solution",
          "structure": "Setup the Question -> Build Suspense -> The Big Reveal",
          "confidence": 0.8,
          "description": "Build mystery and anticipation, then deliver a surprising or powerful conclusion"
        }
      ],
      "arcBeatMatches": [
        {
          "to": 53,
          "from": 36,
          "beatId": "9e0d5a29-f609-49c6-9492-9845c1650e7d",
          "arcName": "Problem-Agitate-Solution",
          "arcSlug": "problem-agitate-solution",
          "beatName": "Solution (Provide relief)",
          "beatSlug": "problem-agitate-solution-solution-provide-relief",
          "evidence": "The presentation outlines Sandell Asset Management's plan for improvement",
          "position": 2,
          "confidence": 0.9,
          "parentBeatName": "Resolution",
          "parentBeatSlug": "resolution"
        }
      ],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622b-71dc-a6db-e6b6bb0421c6",
      "docSlug": "e9bc06261f48",
      "documentTitle": "FirstGroup plc (FGP)",
      "authorId": "08_Sandell",
      "authorName": "Sandell Asset Management",
      "documentKindSlug": "activist-deck",
      "documentKindLabel": "Activist deck",
      "sourceTypeSlug": "activist_investor",
      "sourceTypeLabel": "Activist investor",
      "presentationDate": "2014-01-15 00:00:00",
      "orientation": "landscape",
      "aspectRatio": 1.4145161,
      "pageNumber": 42,
      "slideType": "propose_solution",
      "function": "propose_solution",
      "notes": "The slide uses a 'Why repay bonds?' structure to justify a specific capital allocation strategy.",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622b-71dc-a6db-e6b6bb0421c6/42",
      "deckHref": "/decks/019dd923-622b-71dc-a6db-e6b6bb0421c6",
      "deckAnchorHref": "/decks/019dd923-622b-71dc-a6db-e6b6bb0421c6#slide-42",
      "loopMatches": [
        {
          "to": 42,
          "from": 36,
          "name": "The Reveal",
          "slug": "05-the-reveal",
          "bestFor": "Product launches, strategic pivots, unexpected findings",
          "matchId": "30577019-9e8c-42b6-bfc3-a8d62d5dd253",
          "evidence": "The presentation reveals the details of Sandell Asset Management's plan",
          "position": 1,
          "objective": "Reveal the solution",
          "structure": "Setup the Question -> Build Suspense -> The Big Reveal",
          "confidence": 0.8,
          "description": "Build mystery and anticipation, then deliver a surprising or powerful conclusion"
        }
      ],
      "arcBeatMatches": [
        {
          "to": 53,
          "from": 36,
          "beatId": "9e0d5a29-f609-49c6-9492-9845c1650e7d",
          "arcName": "Problem-Agitate-Solution",
          "arcSlug": "problem-agitate-solution",
          "beatName": "Solution (Provide relief)",
          "beatSlug": "problem-agitate-solution-solution-provide-relief",
          "evidence": "The presentation outlines Sandell Asset Management's plan for improvement",
          "position": 2,
          "confidence": 0.9,
          "parentBeatName": "Resolution",
          "parentBeatSlug": "resolution"
        }
      ],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622b-71dc-a6db-e6b6bb0421c6",
      "docSlug": "e9bc06261f48",
      "documentTitle": "FirstGroup plc (FGP)",
      "authorId": "08_Sandell",
      "authorName": "Sandell Asset Management",
      "documentKindSlug": "activist-deck",
      "documentKindLabel": "Activist deck",
      "sourceTypeSlug": "activist_investor",
      "sourceTypeLabel": "Activist investor",
      "presentationDate": "2014-01-15 00:00:00",
      "orientation": "landscape",
      "aspectRatio": 1.4145161,
      "pageNumber": 43,
      "slideType": "valuation_table",
      "function": "quantify_opportunity",
      "notes": "Includes detailed footnotes regarding methodology and sources for the valuation model.",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622b-71dc-a6db-e6b6bb0421c6/43",
      "deckHref": "/decks/019dd923-622b-71dc-a6db-e6b6bb0421c6",
      "deckAnchorHref": "/decks/019dd923-622b-71dc-a6db-e6b6bb0421c6#slide-43",
      "loopMatches": [],
      "arcBeatMatches": [
        {
          "to": 53,
          "from": 36,
          "beatId": "9e0d5a29-f609-49c6-9492-9845c1650e7d",
          "arcName": "Problem-Agitate-Solution",
          "arcSlug": "problem-agitate-solution",
          "beatName": "Solution (Provide relief)",
          "beatSlug": "problem-agitate-solution-solution-provide-relief",
          "evidence": "The presentation outlines Sandell Asset Management's plan for improvement",
          "position": 2,
          "confidence": 0.9,
          "parentBeatName": "Resolution",
          "parentBeatSlug": "resolution"
        }
      ],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622b-71dc-a6db-e6b6bb0421c6",
      "docSlug": "e9bc06261f48",
      "documentTitle": "FirstGroup plc (FGP)",
      "authorId": "08_Sandell",
      "authorName": "Sandell Asset Management",
      "documentKindSlug": "activist-deck",
      "documentKindLabel": "Activist deck",
      "sourceTypeSlug": "activist_investor",
      "sourceTypeLabel": "Activist investor",
      "presentationDate": "2014-01-15 00:00:00",
      "orientation": "landscape",
      "aspectRatio": 1.4145161,
      "pageNumber": 44,
      "slideType": "section_divider",
      "function": "transition",
      "notes": null,
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622b-71dc-a6db-e6b6bb0421c6/44",
      "deckHref": "/decks/019dd923-622b-71dc-a6db-e6b6bb0421c6",
      "deckAnchorHref": "/decks/019dd923-622b-71dc-a6db-e6b6bb0421c6#slide-44",
      "loopMatches": [],
      "arcBeatMatches": [
        {
          "to": 53,
          "from": 36,
          "beatId": "9e0d5a29-f609-49c6-9492-9845c1650e7d",
          "arcName": "Problem-Agitate-Solution",
          "arcSlug": "problem-agitate-solution",
          "beatName": "Solution (Provide relief)",
          "beatSlug": "problem-agitate-solution-solution-provide-relief",
          "evidence": "The presentation outlines Sandell Asset Management's plan for improvement",
          "position": 2,
          "confidence": 0.9,
          "parentBeatName": "Resolution",
          "parentBeatSlug": "resolution"
        }
      ],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622b-71dc-a6db-e6b6bb0421c6",
      "docSlug": "e9bc06261f48",
      "documentTitle": "FirstGroup plc (FGP)",
      "authorId": "08_Sandell",
      "authorName": "Sandell Asset Management",
      "documentKindSlug": "activist-deck",
      "documentKindLabel": "Activist deck",
      "sourceTypeSlug": "activist_investor",
      "sourceTypeLabel": "Activist investor",
      "presentationDate": "2014-01-15 00:00:00",
      "orientation": "landscape",
      "aspectRatio": 1.4145161,
      "pageNumber": 45,
      "slideType": "preempt_rebuttal",
      "function": "preempt_rebuttal",
      "notes": "This slide is a defensive argument against potential concerns regarding pension liabilities in a corporate restructuring.",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622b-71dc-a6db-e6b6bb0421c6/45",
      "deckHref": "/decks/019dd923-622b-71dc-a6db-e6b6bb0421c6",
      "deckAnchorHref": "/decks/019dd923-622b-71dc-a6db-e6b6bb0421c6#slide-45",
      "loopMatches": [],
      "arcBeatMatches": [
        {
          "to": 53,
          "from": 36,
          "beatId": "9e0d5a29-f609-49c6-9492-9845c1650e7d",
          "arcName": "Problem-Agitate-Solution",
          "arcSlug": "problem-agitate-solution",
          "beatName": "Solution (Provide relief)",
          "beatSlug": "problem-agitate-solution-solution-provide-relief",
          "evidence": "The presentation outlines Sandell Asset Management's plan for improvement",
          "position": 2,
          "confidence": 0.9,
          "parentBeatName": "Resolution",
          "parentBeatSlug": "resolution"
        }
      ],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622b-71dc-a6db-e6b6bb0421c6",
      "docSlug": "e9bc06261f48",
      "documentTitle": "FirstGroup plc (FGP)",
      "authorId": "08_Sandell",
      "authorName": "Sandell Asset Management",
      "documentKindSlug": "activist-deck",
      "documentKindLabel": "Activist deck",
      "sourceTypeSlug": "activist_investor",
      "sourceTypeLabel": "Activist investor",
      "presentationDate": "2014-01-15 00:00:00",
      "orientation": "landscape",
      "aspectRatio": 1.4145161,
      "pageNumber": 46,
      "slideType": "appendix_data",
      "function": "analyze_data",
      "notes": "Includes detailed footnotes explaining the methodology for the Sandell estimate of the UK Bus pension deficit.",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622b-71dc-a6db-e6b6bb0421c6/46",
      "deckHref": "/decks/019dd923-622b-71dc-a6db-e6b6bb0421c6",
      "deckAnchorHref": "/decks/019dd923-622b-71dc-a6db-e6b6bb0421c6#slide-46",
      "loopMatches": [],
      "arcBeatMatches": [
        {
          "to": 53,
          "from": 36,
          "beatId": "9e0d5a29-f609-49c6-9492-9845c1650e7d",
          "arcName": "Problem-Agitate-Solution",
          "arcSlug": "problem-agitate-solution",
          "beatName": "Solution (Provide relief)",
          "beatSlug": "problem-agitate-solution-solution-provide-relief",
          "evidence": "The presentation outlines Sandell Asset Management's plan for improvement",
          "position": 2,
          "confidence": 0.9,
          "parentBeatName": "Resolution",
          "parentBeatSlug": "resolution"
        }
      ],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622b-71dc-a6db-e6b6bb0421c6",
      "docSlug": "e9bc06261f48",
      "documentTitle": "FirstGroup plc (FGP)",
      "authorId": "08_Sandell",
      "authorName": "Sandell Asset Management",
      "documentKindSlug": "activist-deck",
      "documentKindLabel": "Activist deck",
      "sourceTypeSlug": "activist_investor",
      "sourceTypeLabel": "Activist investor",
      "presentationDate": "2014-01-15 00:00:00",
      "orientation": "landscape",
      "aspectRatio": 1.4145161,
      "pageNumber": 47,
      "slideType": "appendix_data",
      "function": "analyze_data",
      "notes": "The slide argues that the reduction in debt and pension liabilities outweighs the reduction in EBITDA and interest expense.",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622b-71dc-a6db-e6b6bb0421c6/47",
      "deckHref": "/decks/019dd923-622b-71dc-a6db-e6b6bb0421c6",
      "deckAnchorHref": "/decks/019dd923-622b-71dc-a6db-e6b6bb0421c6#slide-47",
      "loopMatches": [],
      "arcBeatMatches": [
        {
          "to": 53,
          "from": 36,
          "beatId": "9e0d5a29-f609-49c6-9492-9845c1650e7d",
          "arcName": "Problem-Agitate-Solution",
          "arcSlug": "problem-agitate-solution",
          "beatName": "Solution (Provide relief)",
          "beatSlug": "problem-agitate-solution-solution-provide-relief",
          "evidence": "The presentation outlines Sandell Asset Management's plan for improvement",
          "position": 2,
          "confidence": 0.9,
          "parentBeatName": "Resolution",
          "parentBeatSlug": "resolution"
        }
      ],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622b-71dc-a6db-e6b6bb0421c6",
      "docSlug": "e9bc06261f48",
      "documentTitle": "FirstGroup plc (FGP)",
      "authorId": "08_Sandell",
      "authorName": "Sandell Asset Management",
      "documentKindSlug": "activist-deck",
      "documentKindLabel": "Activist deck",
      "sourceTypeSlug": "activist_investor",
      "sourceTypeLabel": "Activist investor",
      "presentationDate": "2014-01-15 00:00:00",
      "orientation": "landscape",
      "aspectRatio": 1.4145161,
      "pageNumber": 48,
      "slideType": "appendix_data",
      "function": "analyze_data",
      "notes": null,
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622b-71dc-a6db-e6b6bb0421c6/48",
      "deckHref": "/decks/019dd923-622b-71dc-a6db-e6b6bb0421c6",
      "deckAnchorHref": "/decks/019dd923-622b-71dc-a6db-e6b6bb0421c6#slide-48",
      "loopMatches": [],
      "arcBeatMatches": [
        {
          "to": 53,
          "from": 36,
          "beatId": "9e0d5a29-f609-49c6-9492-9845c1650e7d",
          "arcName": "Problem-Agitate-Solution",
          "arcSlug": "problem-agitate-solution",
          "beatName": "Solution (Provide relief)",
          "beatSlug": "problem-agitate-solution-solution-provide-relief",
          "evidence": "The presentation outlines Sandell Asset Management's plan for improvement",
          "position": 2,
          "confidence": 0.9,
          "parentBeatName": "Resolution",
          "parentBeatSlug": "resolution"
        }
      ],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622b-71dc-a6db-e6b6bb0421c6",
      "docSlug": "e9bc06261f48",
      "documentTitle": "FirstGroup plc (FGP)",
      "authorId": "08_Sandell",
      "authorName": "Sandell Asset Management",
      "documentKindSlug": "activist-deck",
      "documentKindLabel": "Activist deck",
      "sourceTypeSlug": "activist_investor",
      "sourceTypeLabel": "Activist investor",
      "presentationDate": "2014-01-15 00:00:00",
      "orientation": "landscape",
      "aspectRatio": 1.4145161,
      "pageNumber": 49,
      "slideType": "appendix_data",
      "function": "analyze_data",
      "notes": "The slide uses a waterfall-style logic to calculate the cost of debt repayment and associated leakage.",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622b-71dc-a6db-e6b6bb0421c6/49",
      "deckHref": "/decks/019dd923-622b-71dc-a6db-e6b6bb0421c6",
      "deckAnchorHref": "/decks/019dd923-622b-71dc-a6db-e6b6bb0421c6#slide-49",
      "loopMatches": [],
      "arcBeatMatches": [
        {
          "to": 53,
          "from": 36,
          "beatId": "9e0d5a29-f609-49c6-9492-9845c1650e7d",
          "arcName": "Problem-Agitate-Solution",
          "arcSlug": "problem-agitate-solution",
          "beatName": "Solution (Provide relief)",
          "beatSlug": "problem-agitate-solution-solution-provide-relief",
          "evidence": "The presentation outlines Sandell Asset Management's plan for improvement",
          "position": 2,
          "confidence": 0.9,
          "parentBeatName": "Resolution",
          "parentBeatSlug": "resolution"
        }
      ],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622b-71dc-a6db-e6b6bb0421c6",
      "docSlug": "e9bc06261f48",
      "documentTitle": "FirstGroup plc (FGP)",
      "authorId": "08_Sandell",
      "authorName": "Sandell Asset Management",
      "documentKindSlug": "activist-deck",
      "documentKindLabel": "Activist deck",
      "sourceTypeSlug": "activist_investor",
      "sourceTypeLabel": "Activist investor",
      "presentationDate": "2014-01-15 00:00:00",
      "orientation": "landscape",
      "aspectRatio": 1.4145161,
      "pageNumber": 50,
      "slideType": "appendix_data",
      "function": "analyze_data",
      "notes": "The slide compares the upfront cost of retiring debt against the NPV of future interest savings.",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622b-71dc-a6db-e6b6bb0421c6/50",
      "deckHref": "/decks/019dd923-622b-71dc-a6db-e6b6bb0421c6",
      "deckAnchorHref": "/decks/019dd923-622b-71dc-a6db-e6b6bb0421c6#slide-50",
      "loopMatches": [],
      "arcBeatMatches": [
        {
          "to": 53,
          "from": 36,
          "beatId": "9e0d5a29-f609-49c6-9492-9845c1650e7d",
          "arcName": "Problem-Agitate-Solution",
          "arcSlug": "problem-agitate-solution",
          "beatName": "Solution (Provide relief)",
          "beatSlug": "problem-agitate-solution-solution-provide-relief",
          "evidence": "The presentation outlines Sandell Asset Management's plan for improvement",
          "position": 2,
          "confidence": 0.9,
          "parentBeatName": "Resolution",
          "parentBeatSlug": "resolution"
        }
      ],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622b-71dc-a6db-e6b6bb0421c6",
      "docSlug": "e9bc06261f48",
      "documentTitle": "FirstGroup plc (FGP)",
      "authorId": "08_Sandell",
      "authorName": "Sandell Asset Management",
      "documentKindSlug": "activist-deck",
      "documentKindLabel": "Activist deck",
      "sourceTypeSlug": "activist_investor",
      "sourceTypeLabel": "Activist investor",
      "presentationDate": "2014-01-15 00:00:00",
      "orientation": "landscape",
      "aspectRatio": 1.4145161,
      "pageNumber": 51,
      "slideType": "propose_solution",
      "function": "propose_solution",
      "notes": "The chart shows a dual-axis representation of bond yields and the resulting spread over time.",
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622b-71dc-a6db-e6b6bb0421c6/51",
      "deckHref": "/decks/019dd923-622b-71dc-a6db-e6b6bb0421c6",
      "deckAnchorHref": "/decks/019dd923-622b-71dc-a6db-e6b6bb0421c6#slide-51",
      "loopMatches": [],
      "arcBeatMatches": [
        {
          "to": 53,
          "from": 36,
          "beatId": "9e0d5a29-f609-49c6-9492-9845c1650e7d",
          "arcName": "Problem-Agitate-Solution",
          "arcSlug": "problem-agitate-solution",
          "beatName": "Solution (Provide relief)",
          "beatSlug": "problem-agitate-solution-solution-provide-relief",
          "evidence": "The presentation outlines Sandell Asset Management's plan for improvement",
          "position": 2,
          "confidence": 0.9,
          "parentBeatName": "Resolution",
          "parentBeatSlug": "resolution"
        }
      ],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622b-71dc-a6db-e6b6bb0421c6",
      "docSlug": "e9bc06261f48",
      "documentTitle": "FirstGroup plc (FGP)",
      "authorId": "08_Sandell",
      "authorName": "Sandell Asset Management",
      "documentKindSlug": "activist-deck",
      "documentKindLabel": "Activist deck",
      "sourceTypeSlug": "activist_investor",
      "sourceTypeLabel": "Activist investor",
      "presentationDate": "2014-01-15 00:00:00",
      "orientation": "landscape",
      "aspectRatio": 1.4145161,
      "pageNumber": 52,
      "slideType": "section_divider",
      "function": "transition",
      "notes": null,
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622b-71dc-a6db-e6b6bb0421c6/52",
      "deckHref": "/decks/019dd923-622b-71dc-a6db-e6b6bb0421c6",
      "deckAnchorHref": "/decks/019dd923-622b-71dc-a6db-e6b6bb0421c6#slide-52",
      "loopMatches": [],
      "arcBeatMatches": [
        {
          "to": 53,
          "from": 36,
          "beatId": "9e0d5a29-f609-49c6-9492-9845c1650e7d",
          "arcName": "Problem-Agitate-Solution",
          "arcSlug": "problem-agitate-solution",
          "beatName": "Solution (Provide relief)",
          "beatSlug": "problem-agitate-solution-solution-provide-relief",
          "evidence": "The presentation outlines Sandell Asset Management's plan for improvement",
          "position": 2,
          "confidence": 0.9,
          "parentBeatName": "Resolution",
          "parentBeatSlug": "resolution"
        }
      ],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622b-71dc-a6db-e6b6bb0421c6",
      "docSlug": "e9bc06261f48",
      "documentTitle": "FirstGroup plc (FGP)",
      "authorId": "08_Sandell",
      "authorName": "Sandell Asset Management",
      "documentKindSlug": "activist-deck",
      "documentKindLabel": "Activist deck",
      "sourceTypeSlug": "activist_investor",
      "sourceTypeLabel": "Activist investor",
      "presentationDate": "2014-01-15 00:00:00",
      "orientation": "landscape",
      "aspectRatio": 1.4145161,
      "pageNumber": 53,
      "slideType": "closing_ask",
      "function": "closing_ask",
      "notes": null,
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622b-71dc-a6db-e6b6bb0421c6/53",
      "deckHref": "/decks/019dd923-622b-71dc-a6db-e6b6bb0421c6",
      "deckAnchorHref": "/decks/019dd923-622b-71dc-a6db-e6b6bb0421c6#slide-53",
      "loopMatches": [],
      "arcBeatMatches": [
        {
          "to": 53,
          "from": 36,
          "beatId": "9e0d5a29-f609-49c6-9492-9845c1650e7d",
          "arcName": "Problem-Agitate-Solution",
          "arcSlug": "problem-agitate-solution",
          "beatName": "Solution (Provide relief)",
          "beatSlug": "problem-agitate-solution-solution-provide-relief",
          "evidence": "The presentation outlines Sandell Asset Management's plan for improvement",
          "position": 2,
          "confidence": 0.9,
          "parentBeatName": "Resolution",
          "parentBeatSlug": "resolution"
        }
      ],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622b-71dc-a6db-e6b6bb0421c6",
      "docSlug": "e9bc06261f48",
      "documentTitle": "FirstGroup plc (FGP)",
      "authorId": "08_Sandell",
      "authorName": "Sandell Asset Management",
      "documentKindSlug": "activist-deck",
      "documentKindLabel": "Activist deck",
      "sourceTypeSlug": "activist_investor",
      "sourceTypeLabel": "Activist investor",
      "presentationDate": "2014-01-15 00:00:00",
      "orientation": "landscape",
      "aspectRatio": 1.4145161,
      "pageNumber": 54,
      "slideType": "appendix",
      "function": "appendix",
      "notes": null,
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622b-71dc-a6db-e6b6bb0421c6/54",
      "deckHref": "/decks/019dd923-622b-71dc-a6db-e6b6bb0421c6",
      "deckAnchorHref": "/decks/019dd923-622b-71dc-a6db-e6b6bb0421c6#slide-54",
      "loopMatches": [],
      "arcBeatMatches": [],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622b-71dc-a6db-e6b6bb0421c6",
      "docSlug": "e9bc06261f48",
      "documentTitle": "FirstGroup plc (FGP)",
      "authorId": "08_Sandell",
      "authorName": "Sandell Asset Management",
      "documentKindSlug": "activist-deck",
      "documentKindLabel": "Activist deck",
      "sourceTypeSlug": "activist_investor",
      "sourceTypeLabel": "Activist investor",
      "presentationDate": "2014-01-15 00:00:00",
      "orientation": "landscape",
      "aspectRatio": 1.4145161,
      "pageNumber": 55,
      "slideType": "appendix",
      "function": "appendix",
      "notes": null,
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622b-71dc-a6db-e6b6bb0421c6/55",
      "deckHref": "/decks/019dd923-622b-71dc-a6db-e6b6bb0421c6",
      "deckAnchorHref": "/decks/019dd923-622b-71dc-a6db-e6b6bb0421c6#slide-55",
      "loopMatches": [],
      "arcBeatMatches": [],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    },
    {
      "docId": "019dd923-622b-71dc-a6db-e6b6bb0421c6",
      "docSlug": "e9bc06261f48",
      "documentTitle": "FirstGroup plc (FGP)",
      "authorId": "08_Sandell",
      "authorName": "Sandell Asset Management",
      "documentKindSlug": "activist-deck",
      "documentKindLabel": "Activist deck",
      "sourceTypeSlug": "activist_investor",
      "sourceTypeLabel": "Activist investor",
      "presentationDate": "2014-01-15 00:00:00",
      "orientation": "landscape",
      "aspectRatio": 1.4145161,
      "pageNumber": 56,
      "slideType": "cover",
      "function": "front_matter",
      "notes": null,
      "imagePath": null,
      "matchCount": 1,
      "evidence": null,
      "slideHref": "/slides/019dd923-622b-71dc-a6db-e6b6bb0421c6/56",
      "deckHref": "/decks/019dd923-622b-71dc-a6db-e6b6bb0421c6",
      "deckAnchorHref": "/decks/019dd923-622b-71dc-a6db-e6b6bb0421c6#slide-56",
      "loopMatches": [],
      "arcBeatMatches": [],
      "imagePathAlt": null,
      "thumbSrc": null,
      "thumbSrcAlt": null,
      "locked": true
    }
  ]
}