{ "kind": "all", "value": "all", "collectionKey": "slides:all:all:all-document-kinds:all-producers:all-orientations", "filters": { "documentKinds": [], "sourceTypes": [], "orientations": [] }, "total": 319975, "page": 2234, "pageSize": 60, "pageCount": 5333, "rows": [ { "docId": "019dd923-622c-750b-8b9b-58e9db6adeb1", "docSlug": "d8fcf9d6086e", "documentTitle": "Fortune Brands Home & Security (FBHS)", "authorId": "01_Pershing_Square", "authorName": "William Ackman", "documentKindSlug": "conference-presentation", "documentKindLabel": "Conference presentation", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2011-10-18 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 1, "slideType": "cover", "function": "front_matter", "notes": null, "imagePath": "https://imgproxy.kitesheet.com/Q2wwX_Mwl7N2J5uueJ9v3AM_7drEpJ39sWU3iixcTto/rs:fit:1200:1200:0/q:82/f:webp/czM6Ly9raXRlc2hlZXQvY29ycHVzL3NsaWRlcy9kOGZjZjlkNjA4NmUvcDAwMS5wbmc", "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b9b-58e9db6adeb1/1", "deckHref": "/decks/019dd923-622c-750b-8b9b-58e9db6adeb1", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9b-58e9db6adeb1#slide-1", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": "https://imgproxy.kitesheet.com/bGhCNm2Jxj1jdYUBnPlq2Hy0IaYxU_zuF7hkxuZ5Tz4/rs:fit:1200:1200:0/q:82/f:webp/czM6Ly9raXRlc2hlZXQvY29ycHVzL3NsaWRlcy9kOGZjZjlkNjA4NmUvcDAwMS5qcGc", "thumbSrc": "https://imgproxy.kitesheet.com/slvp56D0sEJDpcdXq5O7_GvmTgWVKngmpOjg59_e9ac/rs:fit:480:480:0/q:78/f:webp/czM6Ly9raXRlc2hlZXQvY29ycHVzL3NsaWRlcy9kOGZjZjlkNjA4NmUvcDAwMS5wbmc", "thumbSrcAlt": "https://imgproxy.kitesheet.com/4FYC647KcyVAXtGgaU5dyTlqMQFRlLNwZ7H-tnhdo6M/rs:fit:480:480:0/q:78/f:webp/czM6Ly9raXRlc2hlZXQvY29ycHVzL3NsaWRlcy9kOGZjZjlkNjA4NmUvcDAwMS5qcGc" }, { "docId": "019dd923-622c-750b-8b9b-58e9db6adeb1", "docSlug": "d8fcf9d6086e", "documentTitle": "Fortune Brands Home & Security (FBHS)", "authorId": "01_Pershing_Square", "authorName": "William Ackman", "documentKindSlug": "conference-presentation", "documentKindLabel": "Conference presentation", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2011-10-18 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 2, "slideType": "disclaimer", "function": "front_matter", "notes": null, "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b9b-58e9db6adeb1/2", "deckHref": "/decks/019dd923-622c-750b-8b9b-58e9db6adeb1", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9b-58e9db6adeb1#slide-2", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b9b-58e9db6adeb1", "docSlug": "d8fcf9d6086e", "documentTitle": "Fortune Brands Home & Security (FBHS)", "authorId": "01_Pershing_Square", "authorName": "William Ackman", "documentKindSlug": "conference-presentation", "documentKindLabel": "Conference presentation", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2011-10-18 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 3, "slideType": "executive_summary", "function": "front_matter", "notes": "Slide 2 of a presentation, likely an investor deck.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b9b-58e9db6adeb1/3", "deckHref": "/decks/019dd923-622c-750b-8b9b-58e9db6adeb1", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9b-58e9db6adeb1#slide-3", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b9b-58e9db6adeb1", "docSlug": "d8fcf9d6086e", "documentTitle": "Fortune Brands Home & Security (FBHS)", "authorId": "01_Pershing_Square", "authorName": "William Ackman", "documentKindSlug": "conference-presentation", "documentKindLabel": "Conference presentation", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2011-10-18 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 4, "slideType": "executive_summary", "function": "frame_situation", "notes": null, "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b9b-58e9db6adeb1/4", "deckHref": "/decks/019dd923-622c-750b-8b9b-58e9db6adeb1", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9b-58e9db6adeb1#slide-4", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b9b-58e9db6adeb1", "docSlug": "d8fcf9d6086e", "documentTitle": "Fortune Brands Home & Security (FBHS)", "authorId": "01_Pershing_Square", "authorName": "William Ackman", "documentKindSlug": "conference-presentation", "documentKindLabel": "Conference presentation", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2011-10-18 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 5, "slideType": "key_takeaways", "function": "summarize", "notes": null, "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b9b-58e9db6adeb1/5", "deckHref": "/decks/019dd923-622c-750b-8b9b-58e9db6adeb1", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9b-58e9db6adeb1#slide-5", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b9b-58e9db6adeb1", "docSlug": "d8fcf9d6086e", "documentTitle": "Fortune Brands Home & Security (FBHS)", "authorId": "01_Pershing_Square", "authorName": "William Ackman", "documentKindSlug": "conference-presentation", "documentKindLabel": "Conference presentation", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2011-10-18 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 6, "slideType": "key_takeaways", "function": "summarize", "notes": "The slide uses a structured list format to present three core pillars of the investment case.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b9b-58e9db6adeb1/6", "deckHref": "/decks/019dd923-622c-750b-8b9b-58e9db6adeb1", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9b-58e9db6adeb1#slide-6", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b9b-58e9db6adeb1", "docSlug": "d8fcf9d6086e", "documentTitle": "Fortune Brands Home & Security (FBHS)", "authorId": "01_Pershing_Square", "authorName": "William Ackman", "documentKindSlug": "conference-presentation", "documentKindLabel": "Conference presentation", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2011-10-18 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 7, "slideType": "section_divider", "function": "transition", "notes": null, "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b9b-58e9db6adeb1/7", "deckHref": "/decks/019dd923-622c-750b-8b9b-58e9db6adeb1", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9b-58e9db6adeb1#slide-7", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b9b-58e9db6adeb1", "docSlug": "d8fcf9d6086e", "documentTitle": "Fortune Brands Home & Security (FBHS)", "authorId": "01_Pershing_Square", "authorName": "William Ackman", "documentKindSlug": "conference-presentation", "documentKindLabel": "Conference presentation", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2011-10-18 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 8, "slideType": "kpi_overview", "function": "analyze_data", "notes": "The slide highlights the resilience of the 'small ticket' plumbing category during an economic downturn.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b9b-58e9db6adeb1/8", "deckHref": "/decks/019dd923-622c-750b-8b9b-58e9db6adeb1", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9b-58e9db6adeb1#slide-8", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b9b-58e9db6adeb1", "docSlug": "d8fcf9d6086e", "documentTitle": "Fortune Brands Home & Security (FBHS)", "authorId": "01_Pershing_Square", "authorName": "William Ackman", "documentKindSlug": "conference-presentation", "documentKindLabel": "Conference presentation", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2011-10-18 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 9, "slideType": "kpi_overview", "function": "analyze_data", "notes": "Includes a callout box explaining the impact of excess capacity on margins.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b9b-58e9db6adeb1/9", "deckHref": "/decks/019dd923-622c-750b-8b9b-58e9db6adeb1", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9b-58e9db6adeb1#slide-9", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b9b-58e9db6adeb1", "docSlug": "d8fcf9d6086e", "documentTitle": "Fortune Brands Home & Security (FBHS)", "authorId": "01_Pershing_Square", "authorName": "William Ackman", "documentKindSlug": "conference-presentation", "documentKindLabel": "Conference presentation", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2011-10-18 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 10, "slideType": "kpi_overview", "function": "analyze_data", "notes": "The slide highlights Master Lock's contribution to FBHS financials.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b9b-58e9db6adeb1/10", "deckHref": "/decks/019dd923-622c-750b-8b9b-58e9db6adeb1", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9b-58e9db6adeb1#slide-10", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b9b-58e9db6adeb1", "docSlug": "d8fcf9d6086e", "documentTitle": "Fortune Brands Home & Security (FBHS)", "authorId": "01_Pershing_Square", "authorName": "William Ackman", "documentKindSlug": "conference-presentation", "documentKindLabel": "Conference presentation", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2011-10-18 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 11, "slideType": "kpi_overview", "function": "analyze_data", "notes": "The slide highlights the segment's reliance on new home construction and the impact of federal tax credits.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b9b-58e9db6adeb1/11", "deckHref": "/decks/019dd923-622c-750b-8b9b-58e9db6adeb1", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9b-58e9db6adeb1#slide-11", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b9b-58e9db6adeb1", "docSlug": "d8fcf9d6086e", "documentTitle": "Fortune Brands Home & Security (FBHS)", "authorId": "01_Pershing_Square", "authorName": "William Ackman", "documentKindSlug": "conference-presentation", "documentKindLabel": "Conference presentation", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2011-10-18 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 12, "slideType": "kpi_overview", "function": "analyze_data", "notes": "The table includes a 'Memo' section for Housing Starts, providing context for the financial performance.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b9b-58e9db6adeb1/12", "deckHref": "/decks/019dd923-622c-750b-8b9b-58e9db6adeb1", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9b-58e9db6adeb1#slide-12", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b9b-58e9db6adeb1", "docSlug": "d8fcf9d6086e", "documentTitle": "Fortune Brands Home & Security (FBHS)", "authorId": "01_Pershing_Square", "authorName": "William Ackman", "documentKindSlug": "conference-presentation", "documentKindLabel": "Conference presentation", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2011-10-18 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 13, "slideType": "comparison_table", "function": "compare_peers", "notes": "The slide uses a contrast-pairs framework to explain the divergence in segment performance.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b9b-58e9db6adeb1/13", "deckHref": "/decks/019dd923-622c-750b-8b9b-58e9db6adeb1", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9b-58e9db6adeb1#slide-13", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b9b-58e9db6adeb1", "docSlug": "d8fcf9d6086e", "documentTitle": "Fortune Brands Home & Security (FBHS)", "authorId": "01_Pershing_Square", "authorName": "William Ackman", "documentKindSlug": "conference-presentation", "documentKindLabel": "Conference presentation", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2011-10-18 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 14, "slideType": "before_after", "function": "analyze_data", "notes": null, "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b9b-58e9db6adeb1/14", "deckHref": "/decks/019dd923-622c-750b-8b9b-58e9db6adeb1", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9b-58e9db6adeb1#slide-14", "loopMatches": [ { "to": 15, "from": 14, "name": "Before After", "slug": "21-before-after", "bestFor": "Product demos, process improvements, ROI justification", "matchId": "6899468e-4aa5-404b-a037-8b1b9f46b610", "evidence": "The presentation uses a before-after loop to highlight FBHS's restructuring efforts", "position": 0, "objective": "to show how FBHS has restructured its business", "structure": "The Old Way (Pain) -> The Moment of Change -> The New Way (Glory) -> The Measurable Delta", "confidence": 0.8, "description": "Show the dramatic contrast between the old way and the new way through side-by-side comparison" } ], "arcBeatMatches": [ { "to": 15, "from": 14, "beatId": "016b5f03-1dff-41c3-90c1-97521e529cd6", "arcName": "The Sequoia Pitch", "arcSlug": "sequoia-pitch", "beatName": "Solution", "beatSlug": "sequoia-pitch-solution", "evidence": "The presentation highlights FBHS's restructured business and its potential for growth", "position": 2, "confidence": 0.8, "parentBeatName": "Turn", "parentBeatSlug": "turn" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b9b-58e9db6adeb1", "docSlug": "d8fcf9d6086e", "documentTitle": "Fortune Brands Home & Security (FBHS)", "authorId": "01_Pershing_Square", "authorName": "William Ackman", "documentKindSlug": "conference-presentation", "documentKindLabel": "Conference presentation", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2011-10-18 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 15, "slideType": "key_takeaways", "function": "summarize", "notes": null, "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b9b-58e9db6adeb1/15", "deckHref": "/decks/019dd923-622c-750b-8b9b-58e9db6adeb1", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9b-58e9db6adeb1#slide-15", "loopMatches": [ { "to": 15, "from": 14, "name": "Before After", "slug": "21-before-after", "bestFor": "Product demos, process improvements, ROI justification", "matchId": "6899468e-4aa5-404b-a037-8b1b9f46b610", "evidence": "The presentation uses a before-after loop to highlight FBHS's restructuring efforts", "position": 0, "objective": "to show how FBHS has restructured its business", "structure": "The Old Way (Pain) -> The Moment of Change -> The New Way (Glory) -> The Measurable Delta", "confidence": 0.8, "description": "Show the dramatic contrast between the old way and the new way through side-by-side comparison" }, { "to": 16, "from": 15, "name": "Quick Win Big Bet", "slug": "47-quick-win-big-bet", "bestFor": "Transformation planning, 100-day plans, resource allocation", "matchId": "4ca4b954-0e06-456c-a518-7966499940cc", "evidence": "The presentation uses a quick win/big bet loop to highlight FBHS's potential for growth", "position": 2, "objective": "to identify opportunities for quick wins and big bets", "structure": "The Full List -> Quick Wins (Low effort, High impact) -> Big Bets (High effort, High impact) -> Sequenced Roadmap", "confidence": 0.6, "description": "Separate initiatives into immediate wins and longer-term strategic bets" } ], "arcBeatMatches": [ { "to": 15, "from": 14, "beatId": "016b5f03-1dff-41c3-90c1-97521e529cd6", "arcName": "The Sequoia Pitch", "arcSlug": "sequoia-pitch", "beatName": "Solution", "beatSlug": "sequoia-pitch-solution", "evidence": "The presentation highlights FBHS's restructured business and its potential for growth", "position": 2, "confidence": 0.8, "parentBeatName": "Turn", "parentBeatSlug": "turn" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b9b-58e9db6adeb1", "docSlug": "d8fcf9d6086e", "documentTitle": "Fortune Brands Home & Security (FBHS)", "authorId": "01_Pershing_Square", "authorName": "William Ackman", "documentKindSlug": "conference-presentation", "documentKindLabel": "Conference presentation", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2011-10-18 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 16, "slideType": "scenario_table", "function": "propose_solution", "notes": "The slide uses a visual arrow to represent the 'Capacity reduction' process applied to the 2010 margin data.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b9b-58e9db6adeb1/16", "deckHref": "/decks/019dd923-622c-750b-8b9b-58e9db6adeb1", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9b-58e9db6adeb1#slide-16", "loopMatches": [ { "to": 16, "from": 15, "name": "Quick Win Big Bet", "slug": "47-quick-win-big-bet", "bestFor": "Transformation planning, 100-day plans, resource allocation", "matchId": "4ca4b954-0e06-456c-a518-7966499940cc", "evidence": "The presentation uses a quick win/big bet loop to highlight FBHS's potential for growth", "position": 2, "objective": "to identify opportunities for quick wins and big bets", "structure": "The Full List -> Quick Wins (Low effort, High impact) -> Big Bets (High effort, High impact) -> Sequenced Roadmap", "confidence": 0.6, "description": "Separate initiatives into immediate wins and longer-term strategic bets" } ], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b9b-58e9db6adeb1", "docSlug": "d8fcf9d6086e", "documentTitle": "Fortune Brands Home & Security (FBHS)", "authorId": "01_Pershing_Square", "authorName": "William Ackman", "documentKindSlug": "conference-presentation", "documentKindLabel": "Conference presentation", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2011-10-18 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 17, "slideType": "key_messages", "function": "summarize", "notes": null, "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b9b-58e9db6adeb1/17", "deckHref": "/decks/019dd923-622c-750b-8b9b-58e9db6adeb1", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9b-58e9db6adeb1#slide-17", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b9b-58e9db6adeb1", "docSlug": "d8fcf9d6086e", "documentTitle": "Fortune Brands Home & Security (FBHS)", "authorId": "01_Pershing_Square", "authorName": "William Ackman", "documentKindSlug": "conference-presentation", "documentKindLabel": "Conference presentation", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2011-10-18 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 18, "slideType": "peer_benchmark", "function": "compare_peers", "notes": "The slide uses a visual comparison of two rounded rectangles to represent leverage ratios.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b9b-58e9db6adeb1/18", "deckHref": "/decks/019dd923-622c-750b-8b9b-58e9db6adeb1", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9b-58e9db6adeb1#slide-18", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b9b-58e9db6adeb1", "docSlug": "d8fcf9d6086e", "documentTitle": "Fortune Brands Home & Security (FBHS)", "authorId": "01_Pershing_Square", "authorName": "William Ackman", "documentKindSlug": "conference-presentation", "documentKindLabel": "Conference presentation", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2011-10-18 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 19, "slideType": "section_divider", "function": "transition", "notes": null, "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b9b-58e9db6adeb1/19", "deckHref": "/decks/019dd923-622c-750b-8b9b-58e9db6adeb1", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9b-58e9db6adeb1#slide-19", "loopMatches": [], "arcBeatMatches": [ { "to": 20, "from": 19, "beatId": "d8366a2b-f710-45ad-870d-6da1b2c66841", "arcName": "The Sequoia Pitch", "arcSlug": "sequoia-pitch", "beatName": "Market Size", "beatSlug": "sequoia-pitch-market-size", "evidence": "The presentation provides an overview of the housing market", "position": 1, "confidence": 0.8, "parentBeatName": "Evidence", "parentBeatSlug": "evidence" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b9b-58e9db6adeb1", "docSlug": "d8fcf9d6086e", "documentTitle": "Fortune Brands Home & Security (FBHS)", "authorId": "01_Pershing_Square", "authorName": "William Ackman", "documentKindSlug": "conference-presentation", "documentKindLabel": "Conference presentation", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2011-10-18 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 20, "slideType": "key_messages", "function": "establish_context", "notes": "The slide uses a simple categorization of market drivers and economic enablers.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b9b-58e9db6adeb1/20", "deckHref": "/decks/019dd923-622c-750b-8b9b-58e9db6adeb1", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9b-58e9db6adeb1#slide-20", "loopMatches": [], "arcBeatMatches": [ { "to": 20, "from": 19, "beatId": "d8366a2b-f710-45ad-870d-6da1b2c66841", "arcName": "The Sequoia Pitch", "arcSlug": "sequoia-pitch", "beatName": "Market Size", "beatSlug": "sequoia-pitch-market-size", "evidence": "The presentation provides an overview of the housing market", "position": 1, "confidence": 0.8, "parentBeatName": "Evidence", "parentBeatSlug": "evidence" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b9b-58e9db6adeb1", "docSlug": "d8fcf9d6086e", "documentTitle": "Fortune Brands Home & Security (FBHS)", "authorId": "01_Pershing_Square", "authorName": "William Ackman", "documentKindSlug": "conference-presentation", "documentKindLabel": "Conference presentation", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2011-10-18 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 21, "slideType": "problem_statement", "function": "diagnose_problem", "notes": "The chart is a standard Bloomberg terminal export.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b9b-58e9db6adeb1/21", "deckHref": "/decks/019dd923-622c-750b-8b9b-58e9db6adeb1", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9b-58e9db6adeb1#slide-21", "loopMatches": [ { "to": 22, "from": 21, "name": "Cost Of Inaction", "slug": "27-cost-of-inaction", "bestFor": "Urgent budget requests, compliance, risk mitigation", "matchId": "f0485d91-094c-407a-a5e8-45f19c6f22cd", "evidence": "The presentation uses a cost of inaction loop to highlight the risks of not addressing the downturn", "position": 1, "objective": "to emphasize the cost of not addressing the housing market downturn", "structure": "The Status Quo -> The Hidden Costs Accumulating -> The Future State of Inaction -> The Tipping Point", "confidence": 0.7, "description": "Quantify what happens if the audience does nothing" } ], "arcBeatMatches": [ { "to": 22, "from": 21, "beatId": "0c1fe234-107e-44b5-8e43-e267042f02e2", "arcName": "The Sequoia Pitch", "arcSlug": "sequoia-pitch", "beatName": "Problem", "beatSlug": "sequoia-pitch-problem", "evidence": "The presentation identifies the housing market downturn as a problem", "position": 0, "confidence": 0.8, "parentBeatName": "Complication", "parentBeatSlug": "complication" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b9b-58e9db6adeb1", "docSlug": "d8fcf9d6086e", "documentTitle": "Fortune Brands Home & Security (FBHS)", "authorId": "01_Pershing_Square", "authorName": "William Ackman", "documentKindSlug": "conference-presentation", "documentKindLabel": "Conference presentation", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2011-10-18 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 22, "slideType": "problem_statement", "function": "diagnose_problem", "notes": "The chart uses a Bloomberg terminal style aesthetic.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b9b-58e9db6adeb1/22", "deckHref": "/decks/019dd923-622c-750b-8b9b-58e9db6adeb1", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9b-58e9db6adeb1#slide-22", "loopMatches": [ { "to": 22, "from": 21, "name": "Cost Of Inaction", "slug": "27-cost-of-inaction", "bestFor": "Urgent budget requests, compliance, risk mitigation", "matchId": "f0485d91-094c-407a-a5e8-45f19c6f22cd", "evidence": "The presentation uses a cost of inaction loop to highlight the risks of not addressing the downturn", "position": 1, "objective": "to emphasize the cost of not addressing the housing market downturn", "structure": "The Status Quo -> The Hidden Costs Accumulating -> The Future State of Inaction -> The Tipping Point", "confidence": 0.7, "description": "Quantify what happens if the audience does nothing" } ], "arcBeatMatches": [ { "to": 22, "from": 21, "beatId": "0c1fe234-107e-44b5-8e43-e267042f02e2", "arcName": "The Sequoia Pitch", "arcSlug": "sequoia-pitch", "beatName": "Problem", "beatSlug": "sequoia-pitch-problem", "evidence": "The presentation identifies the housing market downturn as a problem", "position": 0, "confidence": 0.8, "parentBeatName": "Complication", "parentBeatSlug": "complication" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b9b-58e9db6adeb1", "docSlug": "d8fcf9d6086e", "documentTitle": "Fortune Brands Home & Security (FBHS)", "authorId": "01_Pershing_Square", "authorName": "William Ackman", "documentKindSlug": "conference-presentation", "documentKindLabel": "Conference presentation", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2011-10-18 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 23, "slideType": "scenario_table", "function": "quantify_opportunity", "notes": "The slide uses a simple arithmetic model to project recovery timelines based on current excess supply and assumed housing starts.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b9b-58e9db6adeb1/23", "deckHref": "/decks/019dd923-622c-750b-8b9b-58e9db6adeb1", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9b-58e9db6adeb1#slide-23", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b9b-58e9db6adeb1", "docSlug": "d8fcf9d6086e", "documentTitle": "Fortune Brands Home & Security (FBHS)", "authorId": "01_Pershing_Square", "authorName": "William Ackman", "documentKindSlug": "conference-presentation", "documentKindLabel": "Conference presentation", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2011-10-18 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 24, "slideType": "key_messages", "function": "summarize", "notes": null, "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b9b-58e9db6adeb1/24", "deckHref": "/decks/019dd923-622c-750b-8b9b-58e9db6adeb1", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9b-58e9db6adeb1#slide-24", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b9b-58e9db6adeb1", "docSlug": "d8fcf9d6086e", "documentTitle": "Fortune Brands Home & Security (FBHS)", "authorId": "01_Pershing_Square", "authorName": "William Ackman", "documentKindSlug": "conference-presentation", "documentKindLabel": "Conference presentation", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2011-10-18 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 25, "slideType": "executive_summary", "function": "summarize", "notes": null, "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b9b-58e9db6adeb1/25", "deckHref": "/decks/019dd923-622c-750b-8b9b-58e9db6adeb1", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9b-58e9db6adeb1#slide-25", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b9b-58e9db6adeb1", "docSlug": "d8fcf9d6086e", "documentTitle": "Fortune Brands Home & Security (FBHS)", "authorId": "01_Pershing_Square", "authorName": "William Ackman", "documentKindSlug": "conference-presentation", "documentKindLabel": "Conference presentation", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2011-10-18 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 26, "slideType": "quote_slide", "function": "cite_precedent", "notes": "Slide 25 of a presentation.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b9b-58e9db6adeb1/26", "deckHref": "/decks/019dd923-622c-750b-8b9b-58e9db6adeb1", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9b-58e9db6adeb1#slide-26", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b9b-58e9db6adeb1", "docSlug": "d8fcf9d6086e", "documentTitle": "Fortune Brands Home & Security (FBHS)", "authorId": "01_Pershing_Square", "authorName": "William Ackman", "documentKindSlug": "conference-presentation", "documentKindLabel": "Conference presentation", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2011-10-18 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 27, "slideType": "section_divider", "function": "transition", "notes": null, "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b9b-58e9db6adeb1/27", "deckHref": "/decks/019dd923-622c-750b-8b9b-58e9db6adeb1", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9b-58e9db6adeb1#slide-27", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b9b-58e9db6adeb1", "docSlug": "d8fcf9d6086e", "documentTitle": "Fortune Brands Home & Security (FBHS)", "authorId": "01_Pershing_Square", "authorName": "William Ackman", "documentKindSlug": "conference-presentation", "documentKindLabel": "Conference presentation", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2011-10-18 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 28, "slideType": "scenario_table", "function": "quantify_opportunity", "notes": "The slide uses a visual bridge to show EBITDA expansion from current levels to 3x current levels based on housing start volume.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b9b-58e9db6adeb1/28", "deckHref": "/decks/019dd923-622c-750b-8b9b-58e9db6adeb1", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9b-58e9db6adeb1#slide-28", "loopMatches": [], "arcBeatMatches": [ { "to": 32, "from": 28, "beatId": "17170de4-a211-4f61-8dec-a0eb730ab66b", "arcName": "The Sequoia Pitch", "arcSlug": "sequoia-pitch", "beatName": "Financials", "beatSlug": "sequoia-pitch-financials", "evidence": "The presentation provides financial tables and valuation scenarios", "position": 3, "confidence": 0.8, "parentBeatName": "Evidence", "parentBeatSlug": "evidence" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b9b-58e9db6adeb1", "docSlug": "d8fcf9d6086e", "documentTitle": "Fortune Brands Home & Security (FBHS)", "authorId": "01_Pershing_Square", "authorName": "William Ackman", "documentKindSlug": "conference-presentation", "documentKindLabel": "Conference presentation", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2011-10-18 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 29, "slideType": "scenario_table", "function": "propose_solution", "notes": "The slide presents a financial bridge/calculation to justify a $400M EBITDA floor.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b9b-58e9db6adeb1/29", "deckHref": "/decks/019dd923-622c-750b-8b9b-58e9db6adeb1", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9b-58e9db6adeb1#slide-29", "loopMatches": [], "arcBeatMatches": [ { "to": 32, "from": 28, "beatId": "17170de4-a211-4f61-8dec-a0eb730ab66b", "arcName": "The Sequoia Pitch", "arcSlug": "sequoia-pitch", "beatName": "Financials", "beatSlug": "sequoia-pitch-financials", "evidence": "The presentation provides financial tables and valuation scenarios", "position": 3, "confidence": 0.8, "parentBeatName": "Evidence", "parentBeatSlug": "evidence" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b9b-58e9db6adeb1", "docSlug": "d8fcf9d6086e", "documentTitle": "Fortune Brands Home & Security (FBHS)", "authorId": "01_Pershing_Square", "authorName": "William Ackman", "documentKindSlug": "conference-presentation", "documentKindLabel": "Conference presentation", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2011-10-18 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 30, "slideType": "valuation_table", "function": "analyze_data", "notes": "Includes a memo section for market capitalization and enterprise value calculation.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b9b-58e9db6adeb1/30", "deckHref": "/decks/019dd923-622c-750b-8b9b-58e9db6adeb1", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9b-58e9db6adeb1#slide-30", "loopMatches": [], "arcBeatMatches": [ { "to": 32, "from": 28, "beatId": "17170de4-a211-4f61-8dec-a0eb730ab66b", "arcName": "The Sequoia Pitch", "arcSlug": "sequoia-pitch", "beatName": "Financials", "beatSlug": "sequoia-pitch-financials", "evidence": "The presentation provides financial tables and valuation scenarios", "position": 3, "confidence": 0.8, "parentBeatName": "Evidence", "parentBeatSlug": "evidence" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b9b-58e9db6adeb1", "docSlug": "d8fcf9d6086e", "documentTitle": "Fortune Brands Home & Security (FBHS)", "authorId": "01_Pershing_Square", "authorName": "William Ackman", "documentKindSlug": "conference-presentation", "documentKindLabel": "Conference presentation", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2011-10-18 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 31, "slideType": "valuation_table", "function": "show_valuation_bridge", "notes": "The slide presents two tables: one for Total Return and one for IRR, both indexed against Housing Starts (1.0M, 1.3M, 1.5M) and Recovery Year (2014-2017).", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b9b-58e9db6adeb1/31", "deckHref": "/decks/019dd923-622c-750b-8b9b-58e9db6adeb1", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9b-58e9db6adeb1#slide-31", "loopMatches": [], "arcBeatMatches": [ { "to": 32, "from": 28, "beatId": "17170de4-a211-4f61-8dec-a0eb730ab66b", "arcName": "The Sequoia Pitch", "arcSlug": "sequoia-pitch", "beatName": "Financials", "beatSlug": "sequoia-pitch-financials", "evidence": "The presentation provides financial tables and valuation scenarios", "position": 3, "confidence": 0.8, "parentBeatName": "Evidence", "parentBeatSlug": "evidence" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b9b-58e9db6adeb1", "docSlug": "d8fcf9d6086e", "documentTitle": "Fortune Brands Home & Security (FBHS)", "authorId": "01_Pershing_Square", "authorName": "William Ackman", "documentKindSlug": "conference-presentation", "documentKindLabel": "Conference presentation", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2011-10-18 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 32, "slideType": "valuation_table", "function": "show_valuation_bridge", "notes": "The slide uses a scenario-based valuation approach to demonstrate upside potential based on housing starts.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b9b-58e9db6adeb1/32", "deckHref": "/decks/019dd923-622c-750b-8b9b-58e9db6adeb1", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9b-58e9db6adeb1#slide-32", "loopMatches": [], "arcBeatMatches": [ { "to": 32, "from": 28, "beatId": "17170de4-a211-4f61-8dec-a0eb730ab66b", "arcName": "The Sequoia Pitch", "arcSlug": "sequoia-pitch", "beatName": "Financials", "beatSlug": "sequoia-pitch-financials", "evidence": "The presentation provides financial tables and valuation scenarios", "position": 3, "confidence": 0.8, "parentBeatName": "Evidence", "parentBeatSlug": "evidence" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b9b-56a436c869d8", "docSlug": "4a661a4b5e99", "documentTitle": "Mall REIT sector (long General Growth Properties) (GGP)", "authorId": "01_Pershing_Square", "authorName": "William Ackman", "documentKindSlug": "conference-presentation", "documentKindLabel": "Conference presentation", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2010-05-26 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 62, "slideType": "other", "function": "establish_context", "notes": "The slide serves as a visual anchor for a real estate development project.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b9b-56a436c869d8/62", "deckHref": "/decks/019dd923-622c-750b-8b9b-56a436c869d8", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9b-56a436c869d8#slide-62", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b9b-56a436c869d8", "docSlug": "4a661a4b5e99", "documentTitle": "Mall REIT sector (long General Growth Properties) (GGP)", "authorId": "01_Pershing_Square", "authorName": "William Ackman", "documentKindSlug": "conference-presentation", "documentKindLabel": "Conference presentation", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2010-05-26 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 63, "slideType": "other", "function": "establish_context", "notes": null, "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b9b-56a436c869d8/63", "deckHref": "/decks/019dd923-622c-750b-8b9b-56a436c869d8", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9b-56a436c869d8#slide-63", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b9b-56a436c869d8", "docSlug": "4a661a4b5e99", "documentTitle": "Mall REIT sector (long General Growth Properties) (GGP)", "authorId": "01_Pershing_Square", "authorName": "William Ackman", "documentKindSlug": "conference-presentation", "documentKindLabel": "Conference presentation", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2010-05-26 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 64, "slideType": "geographic_map", "function": "establish_context", "notes": null, "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b9b-56a436c869d8/64", "deckHref": "/decks/019dd923-622c-750b-8b9b-56a436c869d8", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9b-56a436c869d8#slide-64", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b9b-56a436c869d8", "docSlug": "4a661a4b5e99", "documentTitle": "Mall REIT sector (long General Growth Properties) (GGP)", "authorId": "01_Pershing_Square", "authorName": "William Ackman", "documentKindSlug": "conference-presentation", "documentKindLabel": "Conference presentation", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2010-05-26 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 65, "slideType": "section_divider", "function": "transition", "notes": null, "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b9b-56a436c869d8/65", "deckHref": "/decks/019dd923-622c-750b-8b9b-56a436c869d8", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9b-56a436c869d8#slide-65", "loopMatches": [ { "to": 68, "from": 65, "name": "Quick Win Big Bet", "slug": "47-quick-win-big-bet", "bestFor": "Transformation planning, 100-day plans, resource allocation", "matchId": "275dd55d-7edf-4762-8630-58d30a9155cc", "evidence": "The presentation concludes with a clear call to action and a request for investors to consider GGP's opportunities.", "position": 2, "objective": "Present a clear call to action for investors", "structure": "The Full List -> Quick Wins (Low effort, High impact) -> Big Bets (High effort, High impact) -> Sequenced Roadmap", "confidence": 0.6, "description": "Separate initiatives into immediate wins and longer-term strategic bets" } ], "arcBeatMatches": [ { "to": 68, "from": 65, "beatId": "b2e9294f-6b6c-442d-ba06-e1bcbc71a06d", "arcName": "The Sequoia Pitch", "arcSlug": "sequoia-pitch", "beatName": "The Ask", "beatSlug": "sequoia-pitch-the-ask", "evidence": "The presentation concludes with a clear call to action and a request for investors to consider GGP's opportunities.", "position": 4, "confidence": 0.8, "parentBeatName": "Resolution", "parentBeatSlug": "resolution" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b9b-56a436c869d8", "docSlug": "4a661a4b5e99", "documentTitle": "Mall REIT sector (long General Growth Properties) (GGP)", "authorId": "01_Pershing_Square", "authorName": "William Ackman", "documentKindSlug": "conference-presentation", "documentKindLabel": "Conference presentation", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2010-05-26 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 66, "slideType": "valuation_table", "function": "show_valuation_bridge", "notes": "The slide uses a simple arithmetic bridge to show the implied value of GGO as a negative cost when buying GGP at $14.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b9b-56a436c869d8/66", "deckHref": "/decks/019dd923-622c-750b-8b9b-56a436c869d8", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9b-56a436c869d8#slide-66", "loopMatches": [ { "to": 68, "from": 65, "name": "Quick Win Big Bet", "slug": "47-quick-win-big-bet", "bestFor": "Transformation planning, 100-day plans, resource allocation", "matchId": "275dd55d-7edf-4762-8630-58d30a9155cc", "evidence": "The presentation concludes with a clear call to action and a request for investors to consider GGP's opportunities.", "position": 2, "objective": "Present a clear call to action for investors", "structure": "The Full List -> Quick Wins (Low effort, High impact) -> Big Bets (High effort, High impact) -> Sequenced Roadmap", "confidence": 0.6, "description": "Separate initiatives into immediate wins and longer-term strategic bets" } ], "arcBeatMatches": [ { "to": 68, "from": 65, "beatId": "b2e9294f-6b6c-442d-ba06-e1bcbc71a06d", "arcName": "The Sequoia Pitch", "arcSlug": "sequoia-pitch", "beatName": "The Ask", "beatSlug": "sequoia-pitch-the-ask", "evidence": "The presentation concludes with a clear call to action and a request for investors to consider GGP's opportunities.", "position": 4, "confidence": 0.8, "parentBeatName": "Resolution", "parentBeatSlug": "resolution" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b9b-56a436c869d8", "docSlug": "4a661a4b5e99", "documentTitle": "Mall REIT sector (long General Growth Properties) (GGP)", "authorId": "01_Pershing_Square", "authorName": "William Ackman", "documentKindSlug": "conference-presentation", "documentKindLabel": "Conference presentation", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2010-05-26 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 67, "slideType": "transition", "function": "transition", "notes": "This is a classic 'hook' slide, using a curiosity gap to lead into a reveal.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b9b-56a436c869d8/67", "deckHref": "/decks/019dd923-622c-750b-8b9b-56a436c869d8", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9b-56a436c869d8#slide-67", "loopMatches": [ { "to": 68, "from": 65, "name": "Quick Win Big Bet", "slug": "47-quick-win-big-bet", "bestFor": "Transformation planning, 100-day plans, resource allocation", "matchId": "275dd55d-7edf-4762-8630-58d30a9155cc", "evidence": "The presentation concludes with a clear call to action and a request for investors to consider GGP's opportunities.", "position": 2, "objective": "Present a clear call to action for investors", "structure": "The Full List -> Quick Wins (Low effort, High impact) -> Big Bets (High effort, High impact) -> Sequenced Roadmap", "confidence": 0.6, "description": "Separate initiatives into immediate wins and longer-term strategic bets" } ], "arcBeatMatches": [ { "to": 68, "from": 65, "beatId": "b2e9294f-6b6c-442d-ba06-e1bcbc71a06d", "arcName": "The Sequoia Pitch", "arcSlug": "sequoia-pitch", "beatName": "The Ask", "beatSlug": "sequoia-pitch-the-ask", "evidence": "The presentation concludes with a clear call to action and a request for investors to consider GGP's opportunities.", "position": 4, "confidence": 0.8, "parentBeatName": "Resolution", "parentBeatSlug": "resolution" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b9b-56a436c869d8", "docSlug": "4a661a4b5e99", "documentTitle": "Mall REIT sector (long General Growth Properties) (GGP)", "authorId": "01_Pershing_Square", "authorName": "William Ackman", "documentKindSlug": "conference-presentation", "documentKindLabel": "Conference presentation", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2010-05-26 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 68, "slideType": "closing_ask", "function": "closing_ask", "notes": null, "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b9b-56a436c869d8/68", "deckHref": "/decks/019dd923-622c-750b-8b9b-56a436c869d8", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9b-56a436c869d8#slide-68", "loopMatches": [ { "to": 68, "from": 65, "name": "Quick Win Big Bet", "slug": "47-quick-win-big-bet", "bestFor": "Transformation planning, 100-day plans, resource allocation", "matchId": "275dd55d-7edf-4762-8630-58d30a9155cc", "evidence": "The presentation concludes with a clear call to action and a request for investors to consider GGP's opportunities.", "position": 2, "objective": "Present a clear call to action for investors", "structure": "The Full List -> Quick Wins (Low effort, High impact) -> Big Bets (High effort, High impact) -> Sequenced Roadmap", "confidence": 0.6, "description": "Separate initiatives into immediate wins and longer-term strategic bets" } ], "arcBeatMatches": [ { "to": 68, "from": 65, "beatId": "b2e9294f-6b6c-442d-ba06-e1bcbc71a06d", "arcName": "The Sequoia Pitch", "arcSlug": "sequoia-pitch", "beatName": "The Ask", "beatSlug": "sequoia-pitch-the-ask", "evidence": "The presentation concludes with a clear call to action and a request for investors to consider GGP's opportunities.", "position": 4, "confidence": 0.8, "parentBeatName": "Resolution", "parentBeatSlug": "resolution" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b9b-56a436c869d8", "docSlug": "4a661a4b5e99", "documentTitle": "Mall REIT sector (long General Growth Properties) (GGP)", "authorId": "01_Pershing_Square", "authorName": "William Ackman", "documentKindSlug": "conference-presentation", "documentKindLabel": "Conference presentation", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2010-05-26 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 69, "slideType": "other", "function": "other", "notes": "This is a classic 'Columbo' style reveal (the 'one more thing' trope).", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b9b-56a436c869d8/69", "deckHref": "/decks/019dd923-622c-750b-8b9b-56a436c869d8", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9b-56a436c869d8#slide-69", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b9b-56a436c869d8", "docSlug": "4a661a4b5e99", "documentTitle": "Mall REIT sector (long General Growth Properties) (GGP)", "authorId": "01_Pershing_Square", "authorName": "William Ackman", "documentKindSlug": "conference-presentation", "documentKindLabel": "Conference presentation", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2010-05-26 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 70, "slideType": "appendix", "function": "appendix", "notes": null, "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b9b-56a436c869d8/70", "deckHref": "/decks/019dd923-622c-750b-8b9b-56a436c869d8", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9b-56a436c869d8#slide-70", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b9b-56a436c869d8", "docSlug": "4a661a4b5e99", "documentTitle": "Mall REIT sector (long General Growth Properties) (GGP)", "authorId": "01_Pershing_Square", "authorName": "William Ackman", "documentKindSlug": "conference-presentation", "documentKindLabel": "Conference presentation", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2010-05-26 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 71, "slideType": "appendix_data", "function": "analyze_data", "notes": "The table provides a breakdown of GLA, debt, interest rates, duration, sales PSF, occupancy, and occupancy cost for multiple mall properties.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b9b-56a436c869d8/71", "deckHref": "/decks/019dd923-622c-750b-8b9b-56a436c869d8", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9b-56a436c869d8#slide-71", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b9b-56a436c869d8", "docSlug": "4a661a4b5e99", "documentTitle": "Mall REIT sector (long General Growth Properties) (GGP)", "authorId": "01_Pershing_Square", "authorName": "William Ackman", "documentKindSlug": "conference-presentation", "documentKindLabel": "Conference presentation", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2010-05-26 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 72, "slideType": "appendix_data", "function": "analyze_data", "notes": "The slide includes footnotes clarifying that balances are assumed as of the reported date and that the debt is non-recourse.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b9b-56a436c869d8/72", "deckHref": "/decks/019dd923-622c-750b-8b9b-56a436c869d8", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9b-56a436c869d8#slide-72", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b9b-56a436c869d8", "docSlug": "4a661a4b5e99", "documentTitle": "Mall REIT sector (long General Growth Properties) (GGP)", "authorId": "01_Pershing_Square", "authorName": "William Ackman", "documentKindSlug": "conference-presentation", "documentKindLabel": "Conference presentation", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2010-05-26 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 73, "slideType": "appendix_data", "function": "analyze_data", "notes": "The table is organized into four columns of entity names and debt values, with a total sum provided at the bottom right.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b9b-56a436c869d8/73", "deckHref": "/decks/019dd923-622c-750b-8b9b-56a436c869d8", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9b-56a436c869d8#slide-73", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b9b-56a436c869d8", "docSlug": "4a661a4b5e99", "documentTitle": "Mall REIT sector (long General Growth Properties) (GGP)", "authorId": "01_Pershing_Square", "authorName": "William Ackman", "documentKindSlug": "conference-presentation", "documentKindLabel": "Conference presentation", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2010-05-26 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 74, "slideType": "appendix_data", "function": "analyze_data", "notes": "The slide includes a footnote clarifying that the most recent debt balance is assumed to be the 3/31/10 balance, noting that actual balances may be lower due to amortization.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b9b-56a436c869d8/74", "deckHref": "/decks/019dd923-622c-750b-8b9b-56a436c869d8", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9b-56a436c869d8#slide-74", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b9b-56a436c869d8", "docSlug": "4a661a4b5e99", "documentTitle": "Mall REIT sector (long General Growth Properties) (GGP)", "authorId": "01_Pershing_Square", "authorName": "William Ackman", "documentKindSlug": "conference-presentation", "documentKindLabel": "Conference presentation", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2010-05-26 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 75, "slideType": "appendix_data", "function": "analyze_data", "notes": "The table is split into two columns of properties with their respective debt figures.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b9b-56a436c869d8/75", "deckHref": "/decks/019dd923-622c-750b-8b9b-56a436c869d8", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9b-56a436c869d8#slide-75", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b9b-56a436c869d8", "docSlug": "4a661a4b5e99", "documentTitle": "Mall REIT sector (long General Growth Properties) (GGP)", "authorId": "01_Pershing_Square", "authorName": "William Ackman", "documentKindSlug": "conference-presentation", "documentKindLabel": "Conference presentation", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2010-05-26 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 76, "slideType": "appendix_data", "function": "analyze_data", "notes": "The slide includes a disclaimer note regarding the assumption that reported balances represent 3/31/10 figures despite potential amortization.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b9b-56a436c869d8/76", "deckHref": "/decks/019dd923-622c-750b-8b9b-56a436c869d8", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9b-56a436c869d8#slide-76", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b9b-56a436c869d8", "docSlug": "4a661a4b5e99", "documentTitle": "Mall REIT sector (long General Growth Properties) (GGP)", "authorId": "01_Pershing_Square", "authorName": "William Ackman", "documentKindSlug": "conference-presentation", "documentKindLabel": "Conference presentation", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2010-05-26 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 77, "slideType": "appendix_data", "function": "analyze_data", "notes": "The slide provides a breakdown of debt by entity type and adjusts for amortization.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b9b-56a436c869d8/77", "deckHref": "/decks/019dd923-622c-750b-8b9b-56a436c869d8", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9b-56a436c869d8#slide-77", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b9b-56a436c869d8", "docSlug": "4a661a4b5e99", "documentTitle": "Mall REIT sector (long General Growth Properties) (GGP)", "authorId": "01_Pershing_Square", "authorName": "William Ackman", "documentKindSlug": "conference-presentation", "documentKindLabel": "Conference presentation", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2010-05-26 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 78, "slideType": "revenue_buildup", "function": "analyze_data", "notes": "The slide uses a waterfall-style buildup to reconcile debt figures.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b9b-56a436c869d8/78", "deckHref": "/decks/019dd923-622c-750b-8b9b-56a436c869d8", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9b-56a436c869d8#slide-78", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b9b-56a436c869d8", "docSlug": "4a661a4b5e99", "documentTitle": "Mall REIT sector (long General Growth Properties) (GGP)", "authorId": "01_Pershing_Square", "authorName": "William Ackman", "documentKindSlug": "conference-presentation", "documentKindLabel": "Conference presentation", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2010-05-26 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 79, "slideType": "appendix_data", "function": "analyze_data", "notes": "Includes detailed footnotes explaining debt adjustments and sources.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b9b-56a436c869d8/79", "deckHref": "/decks/019dd923-622c-750b-8b9b-56a436c869d8", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9b-56a436c869d8#slide-79", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b9b-56a436c869d8", "docSlug": "4a661a4b5e99", "documentTitle": "Mall REIT sector (long General Growth Properties) (GGP)", "authorId": "01_Pershing_Square", "authorName": "William Ackman", "documentKindSlug": "conference-presentation", "documentKindLabel": "Conference presentation", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2010-05-26 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 80, "slideType": "appendix_data", "function": "analyze_data", "notes": "Includes footnotes explaining assumptions for maturity dates and interest rates.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b9b-56a436c869d8/80", "deckHref": "/decks/019dd923-622c-750b-8b9b-56a436c869d8", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9b-56a436c869d8#slide-80", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b9b-56a436c869d8", "docSlug": "4a661a4b5e99", "documentTitle": "Mall REIT sector (long General Growth Properties) (GGP)", "authorId": "01_Pershing_Square", "authorName": "William Ackman", "documentKindSlug": "conference-presentation", "documentKindLabel": "Conference presentation", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2010-05-26 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 81, "slideType": "appendix_data", "function": "analyze_data", "notes": "The table includes a total row and an adjustment for amortization.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b9b-56a436c869d8/81", "deckHref": "/decks/019dd923-622c-750b-8b9b-56a436c869d8", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9b-56a436c869d8#slide-81", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b9b-56a436c869d8", "docSlug": "4a661a4b5e99", "documentTitle": "Mall REIT sector (long General Growth Properties) (GGP)", "authorId": "01_Pershing_Square", "authorName": "William Ackman", "documentKindSlug": "conference-presentation", "documentKindLabel": "Conference presentation", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2010-05-26 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 82, "slideType": "appendix_data", "function": "analyze_data", "notes": "The slide provides a detailed breakdown of adjustments to arrive at the PF GGP Debt figure, including cash, claims, interest, and specific debt components.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b9b-56a436c869d8/82", "deckHref": "/decks/019dd923-622c-750b-8b9b-56a436c869d8", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9b-56a436c869d8#slide-82", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b9b-56a436c869d8", "docSlug": "4a661a4b5e99", "documentTitle": "Mall REIT sector (long General Growth Properties) (GGP)", "authorId": "01_Pershing_Square", "authorName": "William Ackman", "documentKindSlug": "conference-presentation", "documentKindLabel": "Conference presentation", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2010-05-26 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 83, "slideType": "valuation_table", "function": "analyze_data", "notes": "The table highlights the $15.00 share price column with a dashed box.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b9b-56a436c869d8/83", "deckHref": "/decks/019dd923-622c-750b-8b9b-56a436c869d8", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9b-56a436c869d8#slide-83", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b9b-56a436c869d8", "docSlug": "4a661a4b5e99", "documentTitle": "Mall REIT sector (long General Growth Properties) (GGP)", "authorId": "01_Pershing_Square", "authorName": "William Ackman", "documentKindSlug": "conference-presentation", "documentKindLabel": "Conference presentation", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2010-05-26 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 84, "slideType": "appendix_data", "function": "analyze_data", "notes": "The slide provides detailed reconciliation of balance sheet items for GGP, likely for valuation purposes.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b9b-56a436c869d8/84", "deckHref": "/decks/019dd923-622c-750b-8b9b-56a436c869d8", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9b-56a436c869d8#slide-84", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b9b-56a436c869d8", "docSlug": "4a661a4b5e99", "documentTitle": "Mall REIT sector (long General Growth Properties) (GGP)", "authorId": "01_Pershing_Square", "authorName": "William Ackman", "documentKindSlug": "conference-presentation", "documentKindLabel": "Conference presentation", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2010-05-26 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 85, "slideType": "appendix_data", "function": "analyze_data", "notes": "The table reconciles property revenues and operating expenses to arrive at Cash NOI, including adjustments for non-cash items.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b9b-56a436c869d8/85", "deckHref": "/decks/019dd923-622c-750b-8b9b-56a436c869d8", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9b-56a436c869d8#slide-85", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b9b-56a436c869d8", "docSlug": "4a661a4b5e99", "documentTitle": "Mall REIT sector (long General Growth Properties) (GGP)", "authorId": "01_Pershing_Square", "authorName": "William Ackman", "documentKindSlug": "conference-presentation", "documentKindLabel": "Conference presentation", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2010-05-26 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 86, "slideType": "appendix_data", "function": "analyze_data", "notes": "Includes detailed footnotes regarding adjustments for interest income, land sales, and accounting adjustments (straight-line rent, FAS 141).", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b9b-56a436c869d8/86", "deckHref": "/decks/019dd923-622c-750b-8b9b-56a436c869d8", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9b-56a436c869d8#slide-86", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b9b-56a436c869d8", "docSlug": "4a661a4b5e99", "documentTitle": "Mall REIT sector (long General Growth Properties) (GGP)", "authorId": "01_Pershing_Square", "authorName": "William Ackman", "documentKindSlug": "conference-presentation", "documentKindLabel": "Conference presentation", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2010-05-26 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 87, "slideType": "valuation_table", "function": "analyze_data", "notes": "The slide uses a standard REIT valuation buildup methodology to arrive at an implied cap rate of 6.6%.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b9b-56a436c869d8/87", "deckHref": "/decks/019dd923-622c-750b-8b9b-56a436c869d8", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9b-56a436c869d8#slide-87", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b9b-56a436c869d8", "docSlug": "4a661a4b5e99", "documentTitle": "Mall REIT sector (long General Growth Properties) (GGP)", "authorId": "01_Pershing_Square", "authorName": "William Ackman", "documentKindSlug": "conference-presentation", "documentKindLabel": "Conference presentation", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2010-05-26 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 88, "slideType": "appendix_data", "function": "analyze_data", "notes": "The slide provides a detailed breakdown of occupancy cost calculations, including adjustments and source footnotes.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b9b-56a436c869d8/88", "deckHref": "/decks/019dd923-622c-750b-8b9b-56a436c869d8", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9b-56a436c869d8#slide-88", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b9b-56a436c869d8", "docSlug": "4a661a4b5e99", "documentTitle": "Mall REIT sector (long General Growth Properties) (GGP)", "authorId": "01_Pershing_Square", "authorName": "William Ackman", "documentKindSlug": "conference-presentation", "documentKindLabel": "Conference presentation", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2010-05-26 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 89, "slideType": "cite_precedent", "function": "cite_precedent", "notes": "The slide uses a primary source document (a news clipping) to establish a precedent for a real estate transaction.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b9b-56a436c869d8/89", "deckHref": "/decks/019dd923-622c-750b-8b9b-56a436c869d8", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9b-56a436c869d8#slide-89", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true } ] }