{ "kind": "all", "value": "all", "collectionKey": "slides:all:all:all-document-kinds:all-producers:all-orientations", "filters": { "documentKinds": [], "sourceTypes": [], "orientations": [] }, "total": 319975, "page": 2302, "pageSize": 60, "pageCount": 5333, "rows": [ { "docId": "019dd923-622c-750b-8b9c-70939a0f825f", "docSlug": "7ed65c83e062", "documentTitle": "Marathon Petroleum Corporation (MPC)", "authorId": "02_Elliott_Management", "authorName": "Elliott", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2019-09-24 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 1, "slideType": "cover", "function": "front_matter", "notes": "Includes Elliott Management logo and campaign website URL.", "imagePath": "https://imgproxy.kitesheet.com/3ueUG2iydp0HoUDyViVBDbuggjbJXUeNi_Jk8aHQeEE/rs:fit:1200:1200:0/q:82/f:webp/czM6Ly9raXRlc2hlZXQvY29ycHVzL3NsaWRlcy83ZWQ2NWM4M2UwNjIvcDAwMS5wbmc", "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b9c-70939a0f825f/1", "deckHref": "/decks/019dd923-622c-750b-8b9c-70939a0f825f", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9c-70939a0f825f#slide-1", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": "https://imgproxy.kitesheet.com/itFvgvZ0I_NNFaf5n9hAO0SS9AFsbHsRK4pRdp_Arx8/rs:fit:1200:1200:0/q:82/f:webp/czM6Ly9raXRlc2hlZXQvY29ycHVzL3NsaWRlcy83ZWQ2NWM4M2UwNjIvcDAwMS5qcGc", "thumbSrc": "https://imgproxy.kitesheet.com/c7DkhcYq6R6RvXz_FLFTmvQAkJ8k4Lv2hqCf5sKFpQs/rs:fit:480:480:0/q:78/f:webp/czM6Ly9raXRlc2hlZXQvY29ycHVzL3NsaWRlcy83ZWQ2NWM4M2UwNjIvcDAwMS5wbmc", "thumbSrcAlt": "https://imgproxy.kitesheet.com/fy1-courGLKe6-Ph0kTRWidnrPnpTT7ehgG5pcBeWMA/rs:fit:480:480:0/q:78/f:webp/czM6Ly9raXRlc2hlZXQvY29ycHVzL3NsaWRlcy83ZWQ2NWM4M2UwNjIvcDAwMS5qcGc" }, { "docId": "019dd923-622c-750b-8b9c-70939a0f825f", "docSlug": "7ed65c83e062", "documentTitle": "Marathon Petroleum Corporation (MPC)", "authorId": "02_Elliott_Management", "authorName": "Elliott", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2019-09-24 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 2, "slideType": "disclaimer", "function": "other", "notes": null, "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b9c-70939a0f825f/2", "deckHref": "/decks/019dd923-622c-750b-8b9c-70939a0f825f", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9c-70939a0f825f#slide-2", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b9c-70939a0f825f", "docSlug": "7ed65c83e062", "documentTitle": "Marathon Petroleum Corporation (MPC)", "authorId": "02_Elliott_Management", "authorName": "Elliott", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2019-09-24 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 3, "slideType": "table_of_contents", "function": "front_matter", "notes": null, "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b9c-70939a0f825f/3", "deckHref": "/decks/019dd923-622c-750b-8b9c-70939a0f825f", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9c-70939a0f825f#slide-3", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b9c-70939a0f825f", "docSlug": "7ed65c83e062", "documentTitle": "Marathon Petroleum Corporation (MPC)", "authorId": "02_Elliott_Management", "authorName": "Elliott", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2019-09-24 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 4, "slideType": "section_divider", "function": "transition", "notes": null, "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b9c-70939a0f825f/4", "deckHref": "/decks/019dd923-622c-750b-8b9c-70939a0f825f", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9c-70939a0f825f#slide-4", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b9c-70939a0f825f", "docSlug": "7ed65c83e062", "documentTitle": "Marathon Petroleum Corporation (MPC)", "authorId": "02_Elliott_Management", "authorName": "Elliott", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2019-09-24 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 5, "slideType": "executive_summary", "function": "frame_problem", "notes": "Uses a before-after bridge framework to visualize value creation.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b9c-70939a0f825f/5", "deckHref": "/decks/019dd923-622c-750b-8b9c-70939a0f825f", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9c-70939a0f825f#slide-5", "loopMatches": [], "arcBeatMatches": [ { "to": 8, "from": 5, "beatId": "d7427f66-e7a0-46d8-a2b7-34ce4027320f", "arcName": "Problem-Agitate-Solution", "arcSlug": "problem-agitate-solution", "beatName": "Problem", "beatSlug": "problem-agitate-solution-problem-identify-pain", "evidence": "Elliott identifies Marathon's underperformance and the need for change", "position": 0, "confidence": 0.8, "parentBeatName": "Complication", "parentBeatSlug": "complication" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b9c-70939a0f825f", "docSlug": "7ed65c83e062", "documentTitle": "Marathon Petroleum Corporation (MPC)", "authorId": "02_Elliott_Management", "authorName": "Elliott", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2019-09-24 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 6, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "Uses a before-after framing to contrast Marathon's performance during engagement vs. post-retention of retail assets.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b9c-70939a0f825f/6", "deckHref": "/decks/019dd923-622c-750b-8b9c-70939a0f825f", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9c-70939a0f825f#slide-6", "loopMatches": [], "arcBeatMatches": [ { "to": 8, "from": 5, "beatId": "d7427f66-e7a0-46d8-a2b7-34ce4027320f", "arcName": "Problem-Agitate-Solution", "arcSlug": "problem-agitate-solution", "beatName": "Problem", "beatSlug": "problem-agitate-solution-problem-identify-pain", "evidence": "Elliott identifies Marathon's underperformance and the need for change", "position": 0, "confidence": 0.8, "parentBeatName": "Complication", "parentBeatSlug": "complication" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b9c-70939a0f825f", "docSlug": "7ed65c83e062", "documentTitle": "Marathon Petroleum Corporation (MPC)", "authorId": "02_Elliott_Management", "authorName": "Elliott", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2019-09-24 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 7, "slideType": "problem_statement", "function": "diagnose_problem", "notes": "Uses a three-column structure to frame the problem: Assets, Performance, and Valuation.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b9c-70939a0f825f/7", "deckHref": "/decks/019dd923-622c-750b-8b9c-70939a0f825f", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9c-70939a0f825f#slide-7", "loopMatches": [], "arcBeatMatches": [ { "to": 8, "from": 5, "beatId": "d7427f66-e7a0-46d8-a2b7-34ce4027320f", "arcName": "Problem-Agitate-Solution", "arcSlug": "problem-agitate-solution", "beatName": "Problem", "beatSlug": "problem-agitate-solution-problem-identify-pain", "evidence": "Elliott identifies Marathon's underperformance and the need for change", "position": 0, "confidence": 0.8, "parentBeatName": "Complication", "parentBeatSlug": "complication" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b9c-70939a0f825f", "docSlug": "7ed65c83e062", "documentTitle": "Marathon Petroleum Corporation (MPC)", "authorId": "02_Elliott_Management", "authorName": "Elliott", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2019-09-24 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 8, "slideType": "propose_solution", "function": "propose_solution", "notes": "Uses a comparison-style list for the 'Splitting Marathon Unlocks Value' section and a diagram for the 'Favorable Separation Mechanics'.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b9c-70939a0f825f/8", "deckHref": "/decks/019dd923-622c-750b-8b9c-70939a0f825f", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9c-70939a0f825f#slide-8", "loopMatches": [], "arcBeatMatches": [ { "to": 8, "from": 5, "beatId": "d7427f66-e7a0-46d8-a2b7-34ce4027320f", "arcName": "Problem-Agitate-Solution", "arcSlug": "problem-agitate-solution", "beatName": "Problem", "beatSlug": "problem-agitate-solution-problem-identify-pain", "evidence": "Elliott identifies Marathon's underperformance and the need for change", "position": 0, "confidence": 0.8, "parentBeatName": "Complication", "parentBeatSlug": "complication" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b9c-70939a0f825f", "docSlug": "7ed65c83e062", "documentTitle": "Marathon Petroleum Corporation (MPC)", "authorId": "02_Elliott_Management", "authorName": "Elliott", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2019-09-24 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 9, "slideType": "propose_solution", "function": "propose_solution", "notes": "Uses a waterfall-style bridge to show current vs pro forma value.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b9c-70939a0f825f/9", "deckHref": "/decks/019dd923-622c-750b-8b9c-70939a0f825f", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9c-70939a0f825f#slide-9", "loopMatches": [], "arcBeatMatches": [ { "to": 20, "from": 9, "beatId": "339120df-84a0-416d-b544-b7f6ab2b1fd5", "arcName": "Problem-Agitate-Solution", "arcSlug": "problem-agitate-solution", "beatName": "Agitate", "beatSlug": "problem-agitate-solution-agitate-make-it-worse", "evidence": "Elliott highlights the consequences of not taking action, including Marathon's undervaluation and limited growth prospects", "position": 1, "confidence": 0.8, "parentBeatName": "Development", "parentBeatSlug": "development" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b9c-70939a0f825f", "docSlug": "7ed65c83e062", "documentTitle": "Marathon Petroleum Corporation (MPC)", "authorId": "02_Elliott_Management", "authorName": "Elliott", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2019-09-24 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 10, "slideType": "valuation_table", "function": "quantify_opportunity", "notes": "Uses animal icons (bear and bull) to denote low and high ends of the valuation range.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b9c-70939a0f825f/10", "deckHref": "/decks/019dd923-622c-750b-8b9c-70939a0f825f", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9c-70939a0f825f#slide-10", "loopMatches": [], "arcBeatMatches": [ { "to": 20, "from": 9, "beatId": "339120df-84a0-416d-b544-b7f6ab2b1fd5", "arcName": "Problem-Agitate-Solution", "arcSlug": "problem-agitate-solution", "beatName": "Agitate", "beatSlug": "problem-agitate-solution-agitate-make-it-worse", "evidence": "Elliott highlights the consequences of not taking action, including Marathon's undervaluation and limited growth prospects", "position": 1, "confidence": 0.8, "parentBeatName": "Development", "parentBeatSlug": "development" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b9c-70939a0f825f", "docSlug": "7ed65c83e062", "documentTitle": "Marathon Petroleum Corporation (MPC)", "authorId": "02_Elliott_Management", "authorName": "Elliott", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2019-09-24 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 11, "slideType": "valuation_reveal", "function": "show_valuation_bridge", "notes": "Uses a waterfall-bridge chart to illustrate value creation.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b9c-70939a0f825f/11", "deckHref": "/decks/019dd923-622c-750b-8b9c-70939a0f825f", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9c-70939a0f825f#slide-11", "loopMatches": [], "arcBeatMatches": [ { "to": 20, "from": 9, "beatId": "339120df-84a0-416d-b544-b7f6ab2b1fd5", "arcName": "Problem-Agitate-Solution", "arcSlug": "problem-agitate-solution", "beatName": "Agitate", "beatSlug": "problem-agitate-solution-agitate-make-it-worse", "evidence": "Elliott highlights the consequences of not taking action, including Marathon's undervaluation and limited growth prospects", "position": 1, "confidence": 0.8, "parentBeatName": "Development", "parentBeatSlug": "development" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b9c-70939a0f825f", "docSlug": "7ed65c83e062", "documentTitle": "Marathon Petroleum Corporation (MPC)", "authorId": "02_Elliott_Management", "authorName": "Elliott", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2019-09-24 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 12, "slideType": "key_takeaways", "function": "summarize", "notes": "The slide uses a three-column layout to contrast the specific benefits for each business segment.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b9c-70939a0f825f/12", "deckHref": "/decks/019dd923-622c-750b-8b9c-70939a0f825f", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9c-70939a0f825f#slide-12", "loopMatches": [], "arcBeatMatches": [ { "to": 20, "from": 9, "beatId": "339120df-84a0-416d-b544-b7f6ab2b1fd5", "arcName": "Problem-Agitate-Solution", "arcSlug": "problem-agitate-solution", "beatName": "Agitate", "beatSlug": "problem-agitate-solution-agitate-make-it-worse", "evidence": "Elliott highlights the consequences of not taking action, including Marathon's undervaluation and limited growth prospects", "position": 1, "confidence": 0.8, "parentBeatName": "Development", "parentBeatSlug": "development" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b9c-70939a0f825f", "docSlug": "7ed65c83e062", "documentTitle": "Marathon Petroleum Corporation (MPC)", "authorId": "02_Elliott_Management", "authorName": "Elliott", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2019-09-24 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 13, "slideType": "cite_precedent", "function": "cite_precedent", "notes": "Includes quotes from management and analysts supporting the spin-off thesis.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b9c-70939a0f825f/13", "deckHref": "/decks/019dd923-622c-750b-8b9c-70939a0f825f", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9c-70939a0f825f#slide-13", "loopMatches": [], "arcBeatMatches": [ { "to": 20, "from": 9, "beatId": "339120df-84a0-416d-b544-b7f6ab2b1fd5", "arcName": "Problem-Agitate-Solution", "arcSlug": "problem-agitate-solution", "beatName": "Agitate", "beatSlug": "problem-agitate-solution-agitate-make-it-worse", "evidence": "Elliott highlights the consequences of not taking action, including Marathon's undervaluation and limited growth prospects", "position": 1, "confidence": 0.8, "parentBeatName": "Development", "parentBeatSlug": "development" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b9c-70939a0f825f", "docSlug": "7ed65c83e062", "documentTitle": "Marathon Petroleum Corporation (MPC)", "authorId": "02_Elliott_Management", "authorName": "Elliott", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2019-09-24 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 14, "slideType": "section_divider", "function": "transition", "notes": null, "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b9c-70939a0f825f/14", "deckHref": "/decks/019dd923-622c-750b-8b9c-70939a0f825f", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9c-70939a0f825f#slide-14", "loopMatches": [], "arcBeatMatches": [ { "to": 20, "from": 9, "beatId": "339120df-84a0-416d-b544-b7f6ab2b1fd5", "arcName": "Problem-Agitate-Solution", "arcSlug": "problem-agitate-solution", "beatName": "Agitate", "beatSlug": "problem-agitate-solution-agitate-make-it-worse", "evidence": "Elliott highlights the consequences of not taking action, including Marathon's undervaluation and limited growth prospects", "position": 1, "confidence": 0.8, "parentBeatName": "Development", "parentBeatSlug": "development" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b9c-70939a0f825f", "docSlug": "7ed65c83e062", "documentTitle": "Marathon Petroleum Corporation (MPC)", "authorId": "02_Elliott_Management", "authorName": "Elliott", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2019-09-24 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 15, "slideType": "peer_benchmark", "function": "compare_peers", "notes": "The slide uses a quote from Gary Heminger to contrast with the data presented, framing it as a contradiction.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b9c-70939a0f825f/15", "deckHref": "/decks/019dd923-622c-750b-8b9c-70939a0f825f", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9c-70939a0f825f#slide-15", "loopMatches": [ { "to": 16, "from": 15, "name": "Tale Two Worlds", "slug": "04-tale-two-worlds", "bestFor": "Competitive analysis, benchmarking, case for change", "matchId": "2b9b9962-75f1-47c3-8d02-a78950d96b01", "evidence": "Elliott compares Marathon's performance to its peers, highlighting the need for change", "position": 0, "objective": "Highlight Marathon's underperformance compared to peers", "structure": "Current State -> Desired State / Benchmark -> The Gap & Implication", "confidence": 0.7, "description": "Show the gap between two states to drive urgency or highlight opportunity" } ], "arcBeatMatches": [ { "to": 20, "from": 9, "beatId": "339120df-84a0-416d-b544-b7f6ab2b1fd5", "arcName": "Problem-Agitate-Solution", "arcSlug": "problem-agitate-solution", "beatName": "Agitate", "beatSlug": "problem-agitate-solution-agitate-make-it-worse", "evidence": "Elliott highlights the consequences of not taking action, including Marathon's undervaluation and limited growth prospects", "position": 1, "confidence": 0.8, "parentBeatName": "Development", "parentBeatSlug": "development" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b9c-70939a0f825f", "docSlug": "7ed65c83e062", "documentTitle": "Marathon Petroleum Corporation (MPC)", "authorId": "02_Elliott_Management", "authorName": "Elliott", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2019-09-24 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 16, "slideType": "peer_benchmark", "function": "compare_peers", "notes": "Uses stamps ('STATUS QUO', 'DOUBLE DOWN', 'Hope for Change') to frame the narrative of each period.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b9c-70939a0f825f/16", "deckHref": "/decks/019dd923-622c-750b-8b9c-70939a0f825f", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9c-70939a0f825f#slide-16", "loopMatches": [ { "to": 16, "from": 15, "name": "Tale Two Worlds", "slug": "04-tale-two-worlds", "bestFor": "Competitive analysis, benchmarking, case for change", "matchId": "2b9b9962-75f1-47c3-8d02-a78950d96b01", "evidence": "Elliott compares Marathon's performance to its peers, highlighting the need for change", "position": 0, "objective": "Highlight Marathon's underperformance compared to peers", "structure": "Current State -> Desired State / Benchmark -> The Gap & Implication", "confidence": 0.7, "description": "Show the gap between two states to drive urgency or highlight opportunity" } ], "arcBeatMatches": [ { "to": 20, "from": 9, "beatId": "339120df-84a0-416d-b544-b7f6ab2b1fd5", "arcName": "Problem-Agitate-Solution", "arcSlug": "problem-agitate-solution", "beatName": "Agitate", "beatSlug": "problem-agitate-solution-agitate-make-it-worse", "evidence": "Elliott highlights the consequences of not taking action, including Marathon's undervaluation and limited growth prospects", "position": 1, "confidence": 0.8, "parentBeatName": "Development", "parentBeatSlug": "development" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b9c-70939a0f825f", "docSlug": "7ed65c83e062", "documentTitle": "Marathon Petroleum Corporation (MPC)", "authorId": "02_Elliott_Management", "authorName": "Elliott", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2019-09-24 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 17, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "Uses a combination of bar charts and analyst quotes to build a case against management's narrative.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b9c-70939a0f825f/17", "deckHref": "/decks/019dd923-622c-750b-8b9c-70939a0f825f", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9c-70939a0f825f#slide-17", "loopMatches": [], "arcBeatMatches": [ { "to": 20, "from": 9, "beatId": "339120df-84a0-416d-b544-b7f6ab2b1fd5", "arcName": "Problem-Agitate-Solution", "arcSlug": "problem-agitate-solution", "beatName": "Agitate", "beatSlug": "problem-agitate-solution-agitate-make-it-worse", "evidence": "Elliott highlights the consequences of not taking action, including Marathon's undervaluation and limited growth prospects", "position": 1, "confidence": 0.8, "parentBeatName": "Development", "parentBeatSlug": "development" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b9c-70939a0f825f", "docSlug": "7ed65c83e062", "documentTitle": "Marathon Petroleum Corporation (MPC)", "authorId": "02_Elliott_Management", "authorName": "Elliott", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2019-09-24 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 18, "slideType": "peer_benchmark", "function": "compare_peers", "notes": "Uses a three-part logical flow: business mix, headline valuation, and implied refining valuation.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b9c-70939a0f825f/18", "deckHref": "/decks/019dd923-622c-750b-8b9c-70939a0f825f", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9c-70939a0f825f#slide-18", "loopMatches": [], "arcBeatMatches": [ { "to": 20, "from": 9, "beatId": "339120df-84a0-416d-b544-b7f6ab2b1fd5", "arcName": "Problem-Agitate-Solution", "arcSlug": "problem-agitate-solution", "beatName": "Agitate", "beatSlug": "problem-agitate-solution-agitate-make-it-worse", "evidence": "Elliott highlights the consequences of not taking action, including Marathon's undervaluation and limited growth prospects", "position": 1, "confidence": 0.8, "parentBeatName": "Development", "parentBeatSlug": "development" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b9c-70939a0f825f", "docSlug": "7ed65c83e062", "documentTitle": "Marathon Petroleum Corporation (MPC)", "authorId": "02_Elliott_Management", "authorName": "Elliott", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2019-09-24 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 19, "slideType": "peer_gap", "function": "expose_gap", "notes": "Uses Elliott Management's historical engagement as a marker for valuation shifts.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b9c-70939a0f825f/19", "deckHref": "/decks/019dd923-622c-750b-8b9c-70939a0f825f", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9c-70939a0f825f#slide-19", "loopMatches": [], "arcBeatMatches": [ { "to": 20, "from": 9, "beatId": "339120df-84a0-416d-b544-b7f6ab2b1fd5", "arcName": "Problem-Agitate-Solution", "arcSlug": "problem-agitate-solution", "beatName": "Agitate", "beatSlug": "problem-agitate-solution-agitate-make-it-worse", "evidence": "Elliott highlights the consequences of not taking action, including Marathon's undervaluation and limited growth prospects", "position": 1, "confidence": 0.8, "parentBeatName": "Development", "parentBeatSlug": "development" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b9c-70939a0f825f", "docSlug": "7ed65c83e062", "documentTitle": "Marathon Petroleum Corporation (MPC)", "authorId": "02_Elliott_Management", "authorName": "Elliott", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2019-09-24 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 20, "slideType": "valuation_table", "function": "show_valuation_bridge", "notes": "Includes analyst quotes from Goldman Sachs and Morgan Stanley to support the thesis.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b9c-70939a0f825f/20", "deckHref": "/decks/019dd923-622c-750b-8b9c-70939a0f825f", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9c-70939a0f825f#slide-20", "loopMatches": [], "arcBeatMatches": [ { "to": 20, "from": 9, "beatId": "339120df-84a0-416d-b544-b7f6ab2b1fd5", "arcName": "Problem-Agitate-Solution", "arcSlug": "problem-agitate-solution", "beatName": "Agitate", "beatSlug": "problem-agitate-solution-agitate-make-it-worse", "evidence": "Elliott highlights the consequences of not taking action, including Marathon's undervaluation and limited growth prospects", "position": 1, "confidence": 0.8, "parentBeatName": "Development", "parentBeatSlug": "development" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b9c-70939a0f825f", "docSlug": "7ed65c83e062", "documentTitle": "Marathon Petroleum Corporation (MPC)", "authorId": "02_Elliott_Management", "authorName": "Elliott", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2019-09-24 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 21, "slideType": "before_after", "function": "propose_solution", "notes": "Uses a before-after framework to contrast current governance failures with future state improvements.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b9c-70939a0f825f/21", "deckHref": "/decks/019dd923-622c-750b-8b9c-70939a0f825f", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9c-70939a0f825f#slide-21", "loopMatches": [ { "to": 24, "from": 21, "name": "Before After", "slug": "21-before-after", "bestFor": "Product demos, process improvements, ROI justification", "matchId": "d424a073-dec9-42c2-9181-f7d4c8cab4ae", "evidence": "Elliott presents a before-and-after scenario, highlighting the benefits of separation", "position": 1, "objective": "Show the benefits of separation", "structure": "The Old Way (Pain) -> The Moment of Change -> The New Way (Glory) -> The Measurable Delta", "confidence": 0.7, "description": "Show the dramatic contrast between the old way and the new way through side-by-side comparison" } ], "arcBeatMatches": [ { "to": 40, "from": 21, "beatId": "d7e5c5df-daf8-45c3-83ab-fa1650992df6", "arcName": "Problem-Agitate-Solution", "arcSlug": "problem-agitate-solution", "beatName": "Solution", "beatSlug": "problem-agitate-solution-solution-provide-relief", "evidence": "Elliott presents separation as the solution, highlighting its benefits and addressing potential concerns", "position": 2, "confidence": 0.8, "parentBeatName": "Resolution", "parentBeatSlug": "resolution" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b9c-70939a0f825f", "docSlug": "7ed65c83e062", "documentTitle": "Marathon Petroleum Corporation (MPC)", "authorId": "02_Elliott_Management", "authorName": "Elliott", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2019-09-24 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 22, "slideType": "section_divider", "function": "transition", "notes": null, "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b9c-70939a0f825f/22", "deckHref": "/decks/019dd923-622c-750b-8b9c-70939a0f825f", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9c-70939a0f825f#slide-22", "loopMatches": [ { "to": 24, "from": 21, "name": "Before After", "slug": "21-before-after", "bestFor": "Product demos, process improvements, ROI justification", "matchId": "d424a073-dec9-42c2-9181-f7d4c8cab4ae", "evidence": "Elliott presents a before-and-after scenario, highlighting the benefits of separation", "position": 1, "objective": "Show the benefits of separation", "structure": "The Old Way (Pain) -> The Moment of Change -> The New Way (Glory) -> The Measurable Delta", "confidence": 0.7, "description": "Show the dramatic contrast between the old way and the new way through side-by-side comparison" } ], "arcBeatMatches": [ { "to": 40, "from": 21, "beatId": "d7e5c5df-daf8-45c3-83ab-fa1650992df6", "arcName": "Problem-Agitate-Solution", "arcSlug": "problem-agitate-solution", "beatName": "Solution", "beatSlug": "problem-agitate-solution-solution-provide-relief", "evidence": "Elliott presents separation as the solution, highlighting its benefits and addressing potential concerns", "position": 2, "confidence": 0.8, "parentBeatName": "Resolution", "parentBeatSlug": "resolution" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b9c-70939a0f825f", "docSlug": "7ed65c83e062", "documentTitle": "Marathon Petroleum Corporation (MPC)", "authorId": "02_Elliott_Management", "authorName": "Elliott", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2019-09-24 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 23, "slideType": "before_after", "function": "propose_solution", "notes": "Uses a before-after framework to contrast current 'trapped' value with future 'unlocked' potential.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b9c-70939a0f825f/23", "deckHref": "/decks/019dd923-622c-750b-8b9c-70939a0f825f", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9c-70939a0f825f#slide-23", "loopMatches": [ { "to": 24, "from": 21, "name": "Before After", "slug": "21-before-after", "bestFor": "Product demos, process improvements, ROI justification", "matchId": "d424a073-dec9-42c2-9181-f7d4c8cab4ae", "evidence": "Elliott presents a before-and-after scenario, highlighting the benefits of separation", "position": 1, "objective": "Show the benefits of separation", "structure": "The Old Way (Pain) -> The Moment of Change -> The New Way (Glory) -> The Measurable Delta", "confidence": 0.7, "description": "Show the dramatic contrast between the old way and the new way through side-by-side comparison" } ], "arcBeatMatches": [ { "to": 40, "from": 21, "beatId": "d7e5c5df-daf8-45c3-83ab-fa1650992df6", "arcName": "Problem-Agitate-Solution", "arcSlug": "problem-agitate-solution", "beatName": "Solution", "beatSlug": "problem-agitate-solution-solution-provide-relief", "evidence": "Elliott presents separation as the solution, highlighting its benefits and addressing potential concerns", "position": 2, "confidence": 0.8, "parentBeatName": "Resolution", "parentBeatSlug": "resolution" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b9c-70939a0f825f", "docSlug": "7ed65c83e062", "documentTitle": "Marathon Petroleum Corporation (MPC)", "authorId": "02_Elliott_Management", "authorName": "Elliott", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2019-09-24 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 24, "slideType": "valuation_reveal", "function": "show_valuation_bridge", "notes": "Uses a waterfall-style bridge to illustrate value creation from a current state to a pro forma state.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b9c-70939a0f825f/24", "deckHref": "/decks/019dd923-622c-750b-8b9c-70939a0f825f", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9c-70939a0f825f#slide-24", "loopMatches": [ { "to": 24, "from": 21, "name": "Before After", "slug": "21-before-after", "bestFor": "Product demos, process improvements, ROI justification", "matchId": "d424a073-dec9-42c2-9181-f7d4c8cab4ae", "evidence": "Elliott presents a before-and-after scenario, highlighting the benefits of separation", "position": 1, "objective": "Show the benefits of separation", "structure": "The Old Way (Pain) -> The Moment of Change -> The New Way (Glory) -> The Measurable Delta", "confidence": 0.7, "description": "Show the dramatic contrast between the old way and the new way through side-by-side comparison" } ], "arcBeatMatches": [ { "to": 40, "from": 21, "beatId": "d7e5c5df-daf8-45c3-83ab-fa1650992df6", "arcName": "Problem-Agitate-Solution", "arcSlug": "problem-agitate-solution", "beatName": "Solution", "beatSlug": "problem-agitate-solution-solution-provide-relief", "evidence": "Elliott presents separation as the solution, highlighting its benefits and addressing potential concerns", "position": 2, "confidence": 0.8, "parentBeatName": "Resolution", "parentBeatSlug": "resolution" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b9c-70939a0f825f", "docSlug": "7ed65c83e062", "documentTitle": "Marathon Petroleum Corporation (MPC)", "authorId": "02_Elliott_Management", "authorName": "Elliott", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2019-09-24 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 25, "slideType": "propose_solution", "function": "propose_solution", "notes": "Uses a process flow diagram to explain the corporate restructuring steps.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b9c-70939a0f825f/25", "deckHref": "/decks/019dd923-622c-750b-8b9c-70939a0f825f", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9c-70939a0f825f#slide-25", "loopMatches": [], "arcBeatMatches": [ { "to": 40, "from": 21, "beatId": "d7e5c5df-daf8-45c3-83ab-fa1650992df6", "arcName": "Problem-Agitate-Solution", "arcSlug": "problem-agitate-solution", "beatName": "Solution", "beatSlug": "problem-agitate-solution-solution-provide-relief", "evidence": "Elliott presents separation as the solution, highlighting its benefits and addressing potential concerns", "position": 2, "confidence": 0.8, "parentBeatName": "Resolution", "parentBeatSlug": "resolution" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b9c-70939a0f825f", "docSlug": "7ed65c83e062", "documentTitle": "Marathon Petroleum Corporation (MPC)", "authorId": "02_Elliott_Management", "authorName": "Elliott", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2019-09-24 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 26, "slideType": "preempt_rebuttal", "function": "preempt_rebuttal", "notes": "The slide uses a table to quantify potential EBITDA impacts of a corporate separation, countering management's claims of integration benefits.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b9c-70939a0f825f/26", "deckHref": "/decks/019dd923-622c-750b-8b9c-70939a0f825f", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9c-70939a0f825f#slide-26", "loopMatches": [], "arcBeatMatches": [ { "to": 40, "from": 21, "beatId": "d7e5c5df-daf8-45c3-83ab-fa1650992df6", "arcName": "Problem-Agitate-Solution", "arcSlug": "problem-agitate-solution", "beatName": "Solution", "beatSlug": "problem-agitate-solution-solution-provide-relief", "evidence": "Elliott presents separation as the solution, highlighting its benefits and addressing potential concerns", "position": 2, "confidence": 0.8, "parentBeatName": "Resolution", "parentBeatSlug": "resolution" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b9c-70939a0f825f", "docSlug": "7ed65c83e062", "documentTitle": "Marathon Petroleum Corporation (MPC)", "authorId": "02_Elliott_Management", "authorName": "Elliott", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2019-09-24 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 27, "slideType": "valuation_table", "function": "quantify_opportunity", "notes": "Includes a bar chart comparing enterprise values and a table of operational/financial metrics.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b9c-70939a0f825f/27", "deckHref": "/decks/019dd923-622c-750b-8b9c-70939a0f825f", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9c-70939a0f825f#slide-27", "loopMatches": [], "arcBeatMatches": [ { "to": 40, "from": 21, "beatId": "d7e5c5df-daf8-45c3-83ab-fa1650992df6", "arcName": "Problem-Agitate-Solution", "arcSlug": "problem-agitate-solution", "beatName": "Solution", "beatSlug": "problem-agitate-solution-solution-provide-relief", "evidence": "Elliott presents separation as the solution, highlighting its benefits and addressing potential concerns", "position": 2, "confidence": 0.8, "parentBeatName": "Resolution", "parentBeatSlug": "resolution" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b9c-70939a0f825f", "docSlug": "7ed65c83e062", "documentTitle": "Marathon Petroleum Corporation (MPC)", "authorId": "02_Elliott_Management", "authorName": "Elliott", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2019-09-24 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 28, "slideType": "propose_solution", "function": "propose_solution", "notes": "The chart highlights MPLX in red compared to peers. The bottom text serves as the action title/thesis.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b9c-70939a0f825f/28", "deckHref": "/decks/019dd923-622c-750b-8b9c-70939a0f825f", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9c-70939a0f825f#slide-28", "loopMatches": [], "arcBeatMatches": [ { "to": 40, "from": 21, "beatId": "d7e5c5df-daf8-45c3-83ab-fa1650992df6", "arcName": "Problem-Agitate-Solution", "arcSlug": "problem-agitate-solution", "beatName": "Solution", "beatSlug": "problem-agitate-solution-solution-provide-relief", "evidence": "Elliott presents separation as the solution, highlighting its benefits and addressing potential concerns", "position": 2, "confidence": 0.8, "parentBeatName": "Resolution", "parentBeatSlug": "resolution" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b9c-70939a0f825f", "docSlug": "7ed65c83e062", "documentTitle": "Marathon Petroleum Corporation (MPC)", "authorId": "02_Elliott_Management", "authorName": "Elliott", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2019-09-24 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 29, "slideType": "valuation_reveal", "function": "quantify_opportunity", "notes": "The slide uses a bar chart to justify an $18bn valuation for the retail segment by comparing it to industry peers like Couche-Tard, Casey's, and Murphy USA.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b9c-70939a0f825f/29", "deckHref": "/decks/019dd923-622c-750b-8b9c-70939a0f825f", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9c-70939a0f825f#slide-29", "loopMatches": [], "arcBeatMatches": [ { "to": 40, "from": 21, "beatId": "d7e5c5df-daf8-45c3-83ab-fa1650992df6", "arcName": "Problem-Agitate-Solution", "arcSlug": "problem-agitate-solution", "beatName": "Solution", "beatSlug": "problem-agitate-solution-solution-provide-relief", "evidence": "Elliott presents separation as the solution, highlighting its benefits and addressing potential concerns", "position": 2, "confidence": 0.8, "parentBeatName": "Resolution", "parentBeatSlug": "resolution" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b9c-70939a0f825f", "docSlug": "7ed65c83e062", "documentTitle": "Marathon Petroleum Corporation (MPC)", "authorId": "02_Elliott_Management", "authorName": "Elliott", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2019-09-24 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 30, "slideType": "section_divider", "function": "transition", "notes": null, "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b9c-70939a0f825f/30", "deckHref": "/decks/019dd923-622c-750b-8b9c-70939a0f825f", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9c-70939a0f825f#slide-30", "loopMatches": [], "arcBeatMatches": [ { "to": 40, "from": 21, "beatId": "d7e5c5df-daf8-45c3-83ab-fa1650992df6", "arcName": "Problem-Agitate-Solution", "arcSlug": "problem-agitate-solution", "beatName": "Solution", "beatSlug": "problem-agitate-solution-solution-provide-relief", "evidence": "Elliott presents separation as the solution, highlighting its benefits and addressing potential concerns", "position": 2, "confidence": 0.8, "parentBeatName": "Resolution", "parentBeatSlug": "resolution" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b9c-70939a0f825f", "docSlug": "7ed65c83e062", "documentTitle": "Marathon Petroleum Corporation (MPC)", "authorId": "02_Elliott_Management", "authorName": "Elliott", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2019-09-24 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 31, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "Uses a 'Justification vs. Reality' framework to systematically dismantle management's arguments.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b9c-70939a0f825f/31", "deckHref": "/decks/019dd923-622c-750b-8b9c-70939a0f825f", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9c-70939a0f825f#slide-31", "loopMatches": [], "arcBeatMatches": [ { "to": 40, "from": 21, "beatId": "d7e5c5df-daf8-45c3-83ab-fa1650992df6", "arcName": "Problem-Agitate-Solution", "arcSlug": "problem-agitate-solution", "beatName": "Solution", "beatSlug": "problem-agitate-solution-solution-provide-relief", "evidence": "Elliott presents separation as the solution, highlighting its benefits and addressing potential concerns", "position": 2, "confidence": 0.8, "parentBeatName": "Resolution", "parentBeatSlug": "resolution" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b9c-70939a0f825f", "docSlug": "7ed65c83e062", "documentTitle": "Marathon Petroleum Corporation (MPC)", "authorId": "02_Elliott_Management", "authorName": "Elliott", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2019-09-24 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 32, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "Uses a dialogue format to highlight a contradiction between analyst questioning and management's vague response.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b9c-70939a0f825f/32", "deckHref": "/decks/019dd923-622c-750b-8b9c-70939a0f825f", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9c-70939a0f825f#slide-32", "loopMatches": [], "arcBeatMatches": [ { "to": 40, "from": 21, "beatId": "d7e5c5df-daf8-45c3-83ab-fa1650992df6", "arcName": "Problem-Agitate-Solution", "arcSlug": "problem-agitate-solution", "beatName": "Solution", "beatSlug": "problem-agitate-solution-solution-provide-relief", "evidence": "Elliott presents separation as the solution, highlighting its benefits and addressing potential concerns", "position": 2, "confidence": 0.8, "parentBeatName": "Resolution", "parentBeatSlug": "resolution" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b9c-6ca5cdf749cf", "docSlug": "1d2c5c03ff59", "documentTitle": "Telecom Italia SpA (TIM) (TIT.MI)", "authorId": "02_Elliott_Management", "authorName": "Elliott", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2019-03-01 00:00:00", "orientation": "landscape", "aspectRatio": 1.4444444, "pageNumber": 13, "slideType": "villain_critique", "function": "name_villain", "notes": "The slide uses a combination of organizational structure and external quotes to frame the CEO's actions as self-serving.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b9c-6ca5cdf749cf/13", "deckHref": "/decks/019dd923-622c-750b-8b9c-6ca5cdf749cf", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9c-6ca5cdf749cf#slide-13", "loopMatches": [], "arcBeatMatches": [ { "to": 20, "from": 10, "beatId": "39aa2e98-d2d8-4d6b-b157-5ae3d3e30847", "arcName": "Problem-Agitate-Solution", "arcSlug": "problem-agitate-solution", "beatName": "Agitate", "beatSlug": "problem-agitate-solution-agitate-make-it-worse", "evidence": "The document agitates the issue by highlighting Vivendi's conflicts of interest and poor governance", "position": 1, "confidence": 0.8, "parentBeatName": "Development", "parentBeatSlug": "development" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b9c-6ca5cdf749cf", "docSlug": "1d2c5c03ff59", "documentTitle": "Telecom Italia SpA (TIM) (TIT.MI)", "authorId": "02_Elliott_Management", "authorName": "Elliott", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2019-03-01 00:00:00", "orientation": "landscape", "aspectRatio": 1.4444444, "pageNumber": 14, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "Uses an org chart to highlight TIM's position and a list of divested logos to establish the pattern of divestment.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b9c-6ca5cdf749cf/14", "deckHref": "/decks/019dd923-622c-750b-8b9c-6ca5cdf749cf", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9c-6ca5cdf749cf#slide-14", "loopMatches": [], "arcBeatMatches": [ { "to": 20, "from": 10, "beatId": "39aa2e98-d2d8-4d6b-b157-5ae3d3e30847", "arcName": "Problem-Agitate-Solution", "arcSlug": "problem-agitate-solution", "beatName": "Agitate", "beatSlug": "problem-agitate-solution-agitate-make-it-worse", "evidence": "The document agitates the issue by highlighting Vivendi's conflicts of interest and poor governance", "position": 1, "confidence": 0.8, "parentBeatName": "Development", "parentBeatSlug": "development" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b9c-6ca5cdf749cf", "docSlug": "1d2c5c03ff59", "documentTitle": "Telecom Italia SpA (TIM) (TIT.MI)", "authorId": "02_Elliott_Management", "authorName": "Elliott", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2019-03-01 00:00:00", "orientation": "landscape", "aspectRatio": 1.4444444, "pageNumber": 15, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "Uses a two-column layout to contrast strategic asset value vs. profit extraction motives.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b9c-6ca5cdf749cf/15", "deckHref": "/decks/019dd923-622c-750b-8b9c-6ca5cdf749cf", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9c-6ca5cdf749cf#slide-15", "loopMatches": [], "arcBeatMatches": [ { "to": 20, "from": 10, "beatId": "39aa2e98-d2d8-4d6b-b157-5ae3d3e30847", "arcName": "Problem-Agitate-Solution", "arcSlug": "problem-agitate-solution", "beatName": "Agitate", "beatSlug": "problem-agitate-solution-agitate-make-it-worse", "evidence": "The document agitates the issue by highlighting Vivendi's conflicts of interest and poor governance", "position": 1, "confidence": 0.8, "parentBeatName": "Development", "parentBeatSlug": "development" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b9c-6ca5cdf749cf", "docSlug": "1d2c5c03ff59", "documentTitle": "Telecom Italia SpA (TIM) (TIT.MI)", "authorId": "02_Elliott_Management", "authorName": "Elliott", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2019-03-01 00:00:00", "orientation": "landscape", "aspectRatio": 1.4444444, "pageNumber": 16, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "The slide uses a bar chart to illustrate a ~6x incentive discrepancy, framing Bolloré's actions as a governance risk.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b9c-6ca5cdf749cf/16", "deckHref": "/decks/019dd923-622c-750b-8b9c-6ca5cdf749cf", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9c-6ca5cdf749cf#slide-16", "loopMatches": [], "arcBeatMatches": [ { "to": 20, "from": 10, "beatId": "39aa2e98-d2d8-4d6b-b157-5ae3d3e30847", "arcName": "Problem-Agitate-Solution", "arcSlug": "problem-agitate-solution", "beatName": "Agitate", "beatSlug": "problem-agitate-solution-agitate-make-it-worse", "evidence": "The document agitates the issue by highlighting Vivendi's conflicts of interest and poor governance", "position": 1, "confidence": 0.8, "parentBeatName": "Development", "parentBeatSlug": "development" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b9c-6ca5cdf749cf", "docSlug": "1d2c5c03ff59", "documentTitle": "Telecom Italia SpA (TIM) (TIT.MI)", "authorId": "02_Elliott_Management", "authorName": "Elliott", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2019-03-01 00:00:00", "orientation": "landscape", "aspectRatio": 1.4444444, "pageNumber": 17, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "The slide uses a combination of qualitative arguments and quantitative impact metrics to frame Vivendi's actions as value-destructive.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b9c-6ca5cdf749cf/17", "deckHref": "/decks/019dd923-622c-750b-8b9c-6ca5cdf749cf", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9c-6ca5cdf749cf#slide-17", "loopMatches": [], "arcBeatMatches": [ { "to": 20, "from": 10, "beatId": "39aa2e98-d2d8-4d6b-b157-5ae3d3e30847", "arcName": "Problem-Agitate-Solution", "arcSlug": "problem-agitate-solution", "beatName": "Agitate", "beatSlug": "problem-agitate-solution-agitate-make-it-worse", "evidence": "The document agitates the issue by highlighting Vivendi's conflicts of interest and poor governance", "position": 1, "confidence": 0.8, "parentBeatName": "Development", "parentBeatSlug": "development" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b9c-6ca5cdf749cf", "docSlug": "1d2c5c03ff59", "documentTitle": "Telecom Italia SpA (TIM) (TIT.MI)", "authorId": "02_Elliott_Management", "authorName": "Elliott", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2019-03-01 00:00:00", "orientation": "landscape", "aspectRatio": 1.4444444, "pageNumber": 18, "slideType": "villain_critique", "function": "name_villain", "notes": "Includes a timeline-style diagram showing Genish's career path between Vivendi, GVT, Vivo, and TIM.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b9c-6ca5cdf749cf/18", "deckHref": "/decks/019dd923-622c-750b-8b9c-6ca5cdf749cf", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9c-6ca5cdf749cf#slide-18", "loopMatches": [], "arcBeatMatches": [ { "to": 20, "from": 10, "beatId": "39aa2e98-d2d8-4d6b-b157-5ae3d3e30847", "arcName": "Problem-Agitate-Solution", "arcSlug": "problem-agitate-solution", "beatName": "Agitate", "beatSlug": "problem-agitate-solution-agitate-make-it-worse", "evidence": "The document agitates the issue by highlighting Vivendi's conflicts of interest and poor governance", "position": 1, "confidence": 0.8, "parentBeatName": "Development", "parentBeatSlug": "development" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b9c-6ca5cdf749cf", "docSlug": "1d2c5c03ff59", "documentTitle": "Telecom Italia SpA (TIM) (TIT.MI)", "authorId": "02_Elliott_Management", "authorName": "Elliott", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2019-03-01 00:00:00", "orientation": "landscape", "aspectRatio": 1.4444444, "pageNumber": 19, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "Uses a line chart with annotated callouts to map specific events to share price movements.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b9c-6ca5cdf749cf/19", "deckHref": "/decks/019dd923-622c-750b-8b9c-6ca5cdf749cf", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9c-6ca5cdf749cf#slide-19", "loopMatches": [], "arcBeatMatches": [ { "to": 20, "from": 10, "beatId": "39aa2e98-d2d8-4d6b-b157-5ae3d3e30847", "arcName": "Problem-Agitate-Solution", "arcSlug": "problem-agitate-solution", "beatName": "Agitate", "beatSlug": "problem-agitate-solution-agitate-make-it-worse", "evidence": "The document agitates the issue by highlighting Vivendi's conflicts of interest and poor governance", "position": 1, "confidence": 0.8, "parentBeatName": "Development", "parentBeatSlug": "development" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b9c-6ca5cdf749cf", "docSlug": "1d2c5c03ff59", "documentTitle": "Telecom Italia SpA (TIM) (TIT.MI)", "authorId": "02_Elliott_Management", "authorName": "Elliott", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2019-03-01 00:00:00", "orientation": "landscape", "aspectRatio": 1.4444444, "pageNumber": 20, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "The slide uses a 'quote-rebuttal' structure to frame Vivendi's arguments as spurious or contradictory.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b9c-6ca5cdf749cf/20", "deckHref": "/decks/019dd923-622c-750b-8b9c-6ca5cdf749cf", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9c-6ca5cdf749cf#slide-20", "loopMatches": [], "arcBeatMatches": [ { "to": 20, "from": 10, "beatId": "39aa2e98-d2d8-4d6b-b157-5ae3d3e30847", "arcName": "Problem-Agitate-Solution", "arcSlug": "problem-agitate-solution", "beatName": "Agitate", "beatSlug": "problem-agitate-solution-agitate-make-it-worse", "evidence": "The document agitates the issue by highlighting Vivendi's conflicts of interest and poor governance", "position": 1, "confidence": 0.8, "parentBeatName": "Development", "parentBeatSlug": "development" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b9c-6ca5cdf749cf", "docSlug": "1d2c5c03ff59", "documentTitle": "Telecom Italia SpA (TIM) (TIT.MI)", "authorId": "02_Elliott_Management", "authorName": "Elliott", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2019-03-01 00:00:00", "orientation": "landscape", "aspectRatio": 1.4444444, "pageNumber": 21, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "Uses a 3-column comparison table to contrast 'Value creation ideas', 'Today' (TIM's status), 'Vivendi's Presentation' (claims), and 'In Reality' (contradictions).", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b9c-6ca5cdf749cf/21", "deckHref": "/decks/019dd923-622c-750b-8b9c-6ca5cdf749cf", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9c-6ca5cdf749cf#slide-21", "loopMatches": [], "arcBeatMatches": [ { "to": 39, "from": 21, "beatId": "2923adef-f97c-4b6e-b912-edd656f27057", "arcName": "Problem-Agitate-Solution", "arcSlug": "problem-agitate-solution", "beatName": "Solution", "beatSlug": "problem-agitate-solution-solution-provide-relief", "evidence": "The document provides a solution by presenting an alternative slate of nominees and highlighting the benefits of independent governance", "position": 2, "confidence": 0.8, "parentBeatName": "Resolution", "parentBeatSlug": "resolution" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b9c-6ca5cdf749cf", "docSlug": "1d2c5c03ff59", "documentTitle": "Telecom Italia SpA (TIM) (TIT.MI)", "authorId": "02_Elliott_Management", "authorName": "Elliott", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2019-03-01 00:00:00", "orientation": "landscape", "aspectRatio": 1.4444444, "pageNumber": 22, "slideType": "nominee_bio", "function": "introduce_nominees", "notes": "The slide uses a table to systematically discredit the proposed slate by linking nominees to Bolloré's business interests and past regulatory issues.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b9c-6ca5cdf749cf/22", "deckHref": "/decks/019dd923-622c-750b-8b9c-6ca5cdf749cf", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9c-6ca5cdf749cf#slide-22", "loopMatches": [], "arcBeatMatches": [ { "to": 39, "from": 21, "beatId": "2923adef-f97c-4b6e-b912-edd656f27057", "arcName": "Problem-Agitate-Solution", "arcSlug": "problem-agitate-solution", "beatName": "Solution", "beatSlug": "problem-agitate-solution-solution-provide-relief", "evidence": "The document provides a solution by presenting an alternative slate of nominees and highlighting the benefits of independent governance", "position": 2, "confidence": 0.8, "parentBeatName": "Resolution", "parentBeatSlug": "resolution" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b9c-6ca5cdf749cf", "docSlug": "1d2c5c03ff59", "documentTitle": "Telecom Italia SpA (TIM) (TIT.MI)", "authorId": "02_Elliott_Management", "authorName": "Elliott", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2019-03-01 00:00:00", "orientation": "landscape", "aspectRatio": 1.4444444, "pageNumber": 23, "slideType": "before_after", "function": "expose_contradiction", "notes": "The chart uses a purple line to represent the stock performance, ending with a red callout bubble indicating the -54% figure.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b9c-6ca5cdf749cf/23", "deckHref": "/decks/019dd923-622c-750b-8b9c-6ca5cdf749cf", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9c-6ca5cdf749cf#slide-23", "loopMatches": [], "arcBeatMatches": [ { "to": 39, "from": 21, "beatId": "2923adef-f97c-4b6e-b912-edd656f27057", "arcName": "Problem-Agitate-Solution", "arcSlug": "problem-agitate-solution", "beatName": "Solution", "beatSlug": "problem-agitate-solution-solution-provide-relief", "evidence": "The document provides a solution by presenting an alternative slate of nominees and highlighting the benefits of independent governance", "position": 2, "confidence": 0.8, "parentBeatName": "Resolution", "parentBeatSlug": "resolution" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b9c-6ca5cdf749cf", "docSlug": "1d2c5c03ff59", "documentTitle": "Telecom Italia SpA (TIM) (TIT.MI)", "authorId": "02_Elliott_Management", "authorName": "Elliott", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2019-03-01 00:00:00", "orientation": "landscape", "aspectRatio": 1.4444444, "pageNumber": 24, "slideType": "section_divider", "function": "transition", "notes": null, "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b9c-6ca5cdf749cf/24", "deckHref": "/decks/019dd923-622c-750b-8b9c-6ca5cdf749cf", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9c-6ca5cdf749cf#slide-24", "loopMatches": [], "arcBeatMatches": [ { "to": 39, "from": 21, "beatId": "2923adef-f97c-4b6e-b912-edd656f27057", "arcName": "Problem-Agitate-Solution", "arcSlug": "problem-agitate-solution", "beatName": "Solution", "beatSlug": "problem-agitate-solution-solution-provide-relief", "evidence": "The document provides a solution by presenting an alternative slate of nominees and highlighting the benefits of independent governance", "position": 2, "confidence": 0.8, "parentBeatName": "Resolution", "parentBeatSlug": "resolution" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b9c-6ca5cdf749cf", "docSlug": "1d2c5c03ff59", "documentTitle": "Telecom Italia SpA (TIM) (TIT.MI)", "authorId": "02_Elliott_Management", "authorName": "Elliott", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2019-03-01 00:00:00", "orientation": "landscape", "aspectRatio": 1.4444444, "pageNumber": 25, "slideType": "villain_critique", "function": "name_villain", "notes": "The slide uses a quote from MSCI ESG Research to frame the critique of corporate governance.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b9c-6ca5cdf749cf/25", "deckHref": "/decks/019dd923-622c-750b-8b9c-6ca5cdf749cf", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9c-6ca5cdf749cf#slide-25", "loopMatches": [], "arcBeatMatches": [ { "to": 39, "from": 21, "beatId": "2923adef-f97c-4b6e-b912-edd656f27057", "arcName": "Problem-Agitate-Solution", "arcSlug": "problem-agitate-solution", "beatName": "Solution", "beatSlug": "problem-agitate-solution-solution-provide-relief", "evidence": "The document provides a solution by presenting an alternative slate of nominees and highlighting the benefits of independent governance", "position": 2, "confidence": 0.8, "parentBeatName": "Resolution", "parentBeatSlug": "resolution" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b9c-6ca5cdf749cf", "docSlug": "1d2c5c03ff59", "documentTitle": "Telecom Italia SpA (TIM) (TIT.MI)", "authorId": "02_Elliott_Management", "authorName": "Elliott", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2019-03-01 00:00:00", "orientation": "landscape", "aspectRatio": 1.4444444, "pageNumber": 26, "slideType": "villain_critique", "function": "name_villain", "notes": "Uses a table to contrast governance issues with negative track record points.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b9c-6ca5cdf749cf/26", "deckHref": "/decks/019dd923-622c-750b-8b9c-6ca5cdf749cf", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9c-6ca5cdf749cf#slide-26", "loopMatches": [], "arcBeatMatches": [ { "to": 39, "from": 21, "beatId": "2923adef-f97c-4b6e-b912-edd656f27057", "arcName": "Problem-Agitate-Solution", "arcSlug": "problem-agitate-solution", "beatName": "Solution", "beatSlug": "problem-agitate-solution-solution-provide-relief", "evidence": "The document provides a solution by presenting an alternative slate of nominees and highlighting the benefits of independent governance", "position": 2, "confidence": 0.8, "parentBeatName": "Resolution", "parentBeatSlug": "resolution" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b9c-6ca5cdf749cf", "docSlug": "1d2c5c03ff59", "documentTitle": "Telecom Italia SpA (TIM) (TIT.MI)", "authorId": "02_Elliott_Management", "authorName": "Elliott", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2019-03-01 00:00:00", "orientation": "landscape", "aspectRatio": 1.4444444, "pageNumber": 27, "slideType": "before_after", "function": "expose_contradiction", "notes": "The slide uses a dual-area chart to contrast the improvement in TIM's governance against the decline in Vivendi's shareholder rights.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b9c-6ca5cdf749cf/27", "deckHref": "/decks/019dd923-622c-750b-8b9c-6ca5cdf749cf", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9c-6ca5cdf749cf#slide-27", "loopMatches": [], "arcBeatMatches": [ { "to": 39, "from": 21, "beatId": "2923adef-f97c-4b6e-b912-edd656f27057", "arcName": "Problem-Agitate-Solution", "arcSlug": "problem-agitate-solution", "beatName": "Solution", "beatSlug": "problem-agitate-solution-solution-provide-relief", "evidence": "The document provides a solution by presenting an alternative slate of nominees and highlighting the benefits of independent governance", "position": 2, "confidence": 0.8, "parentBeatName": "Resolution", "parentBeatSlug": "resolution" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b9c-6ca5cdf749cf", "docSlug": "1d2c5c03ff59", "documentTitle": "Telecom Italia SpA (TIM) (TIT.MI)", "authorId": "02_Elliott_Management", "authorName": "Elliott", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2019-03-01 00:00:00", "orientation": "landscape", "aspectRatio": 1.4444444, "pageNumber": 28, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "The slide uses a matrix to visualize board interlocks and family control.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b9c-6ca5cdf749cf/28", "deckHref": "/decks/019dd923-622c-750b-8b9c-6ca5cdf749cf", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9c-6ca5cdf749cf#slide-28", "loopMatches": [], "arcBeatMatches": [ { "to": 39, "from": 21, "beatId": "2923adef-f97c-4b6e-b912-edd656f27057", "arcName": "Problem-Agitate-Solution", "arcSlug": "problem-agitate-solution", "beatName": "Solution", "beatSlug": "problem-agitate-solution-solution-provide-relief", "evidence": "The document provides a solution by presenting an alternative slate of nominees and highlighting the benefits of independent governance", "position": 2, "confidence": 0.8, "parentBeatName": "Resolution", "parentBeatSlug": "resolution" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b9c-6ca5cdf749cf", "docSlug": "1d2c5c03ff59", "documentTitle": "Telecom Italia SpA (TIM) (TIT.MI)", "authorId": "02_Elliott_Management", "authorName": "Elliott", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2019-03-01 00:00:00", "orientation": "landscape", "aspectRatio": 1.4444444, "pageNumber": 29, "slideType": "quote_slide", "function": "expose_contradiction", "notes": "The slide uses quotes to frame the company as a 'family fiefdom' rather than a standard public corporation.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b9c-6ca5cdf749cf/29", "deckHref": "/decks/019dd923-622c-750b-8b9c-6ca5cdf749cf", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9c-6ca5cdf749cf#slide-29", "loopMatches": [], "arcBeatMatches": [ { "to": 39, "from": 21, "beatId": "2923adef-f97c-4b6e-b912-edd656f27057", "arcName": "Problem-Agitate-Solution", "arcSlug": "problem-agitate-solution", "beatName": "Solution", "beatSlug": "problem-agitate-solution-solution-provide-relief", "evidence": "The document provides a solution by presenting an alternative slate of nominees and highlighting the benefits of independent governance", "position": 2, "confidence": 0.8, "parentBeatName": "Resolution", "parentBeatSlug": "resolution" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b9c-6ca5cdf749cf", "docSlug": "1d2c5c03ff59", "documentTitle": "Telecom Italia SpA (TIM) (TIT.MI)", "authorId": "02_Elliott_Management", "authorName": "Elliott", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2019-03-01 00:00:00", "orientation": "landscape", "aspectRatio": 1.4444444, "pageNumber": 30, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "The slide uses a combination of historical context, media quotes, and visual data (bar chart and line chart) to build a case against the board's governance.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b9c-6ca5cdf749cf/30", "deckHref": "/decks/019dd923-622c-750b-8b9c-6ca5cdf749cf", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9c-6ca5cdf749cf#slide-30", "loopMatches": [], "arcBeatMatches": [ { "to": 39, "from": 21, "beatId": "2923adef-f97c-4b6e-b912-edd656f27057", "arcName": "Problem-Agitate-Solution", "arcSlug": "problem-agitate-solution", "beatName": "Solution", "beatSlug": "problem-agitate-solution-solution-provide-relief", "evidence": "The document provides a solution by presenting an alternative slate of nominees and highlighting the benefits of independent governance", "position": 2, "confidence": 0.8, "parentBeatName": "Resolution", "parentBeatSlug": "resolution" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b9c-6ca5cdf749cf", "docSlug": "1d2c5c03ff59", "documentTitle": "Telecom Italia SpA (TIM) (TIT.MI)", "authorId": "02_Elliott_Management", "authorName": "Elliott", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2019-03-01 00:00:00", "orientation": "landscape", "aspectRatio": 1.4444444, "pageNumber": 31, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "Uses external media and analyst quotes to frame the governance issue as an exploitation of minority interests.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b9c-6ca5cdf749cf/31", "deckHref": "/decks/019dd923-622c-750b-8b9c-6ca5cdf749cf", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9c-6ca5cdf749cf#slide-31", "loopMatches": [], "arcBeatMatches": [ { "to": 39, "from": 21, "beatId": "2923adef-f97c-4b6e-b912-edd656f27057", "arcName": "Problem-Agitate-Solution", "arcSlug": "problem-agitate-solution", "beatName": "Solution", "beatSlug": "problem-agitate-solution-solution-provide-relief", "evidence": "The document provides a solution by presenting an alternative slate of nominees and highlighting the benefits of independent governance", "position": 2, "confidence": 0.8, "parentBeatName": "Resolution", "parentBeatSlug": "resolution" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b9c-6ca5cdf749cf", "docSlug": "1d2c5c03ff59", "documentTitle": "Telecom Italia SpA (TIM) (TIT.MI)", "authorId": "02_Elliott_Management", "authorName": "Elliott", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2019-03-01 00:00:00", "orientation": "landscape", "aspectRatio": 1.4444444, "pageNumber": 32, "slideType": "villain_critique", "function": "name_villain", "notes": "The slide uses a three-column layout to present specific governance failures at Bolloré, Vivendi, Havas, and TIM.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b9c-6ca5cdf749cf/32", "deckHref": "/decks/019dd923-622c-750b-8b9c-6ca5cdf749cf", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9c-6ca5cdf749cf#slide-32", "loopMatches": [], "arcBeatMatches": [ { "to": 39, "from": 21, "beatId": "2923adef-f97c-4b6e-b912-edd656f27057", "arcName": "Problem-Agitate-Solution", "arcSlug": "problem-agitate-solution", "beatName": "Solution", "beatSlug": "problem-agitate-solution-solution-provide-relief", "evidence": "The document provides a solution by presenting an alternative slate of nominees and highlighting the benefits of independent governance", "position": 2, "confidence": 0.8, "parentBeatName": "Resolution", "parentBeatSlug": "resolution" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b9c-6ca5cdf749cf", "docSlug": "1d2c5c03ff59", "documentTitle": "Telecom Italia SpA (TIM) (TIT.MI)", "authorId": "02_Elliott_Management", "authorName": "Elliott", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2019-03-01 00:00:00", "orientation": "landscape", "aspectRatio": 1.4444444, "pageNumber": 33, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "Includes a complex organizational chart diagram from a Muddy Waters report.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b9c-6ca5cdf749cf/33", "deckHref": "/decks/019dd923-622c-750b-8b9c-6ca5cdf749cf", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9c-6ca5cdf749cf#slide-33", "loopMatches": [], "arcBeatMatches": [ { "to": 39, "from": 21, "beatId": "2923adef-f97c-4b6e-b912-edd656f27057", "arcName": "Problem-Agitate-Solution", "arcSlug": "problem-agitate-solution", "beatName": "Solution", "beatSlug": "problem-agitate-solution-solution-provide-relief", "evidence": "The document provides a solution by presenting an alternative slate of nominees and highlighting the benefits of independent governance", "position": 2, "confidence": 0.8, "parentBeatName": "Resolution", "parentBeatSlug": "resolution" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b9c-6ca5cdf749cf", "docSlug": "1d2c5c03ff59", "documentTitle": "Telecom Italia SpA (TIM) (TIT.MI)", "authorId": "02_Elliott_Management", "authorName": "Elliott", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2019-03-01 00:00:00", "orientation": "landscape", "aspectRatio": 1.4444444, "pageNumber": 34, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "The slide uses a list-based structure to detail specific legal and regulatory failures.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b9c-6ca5cdf749cf/34", "deckHref": "/decks/019dd923-622c-750b-8b9c-6ca5cdf749cf", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9c-6ca5cdf749cf#slide-34", "loopMatches": [], "arcBeatMatches": [ { "to": 39, "from": 21, "beatId": "2923adef-f97c-4b6e-b912-edd656f27057", "arcName": "Problem-Agitate-Solution", "arcSlug": "problem-agitate-solution", "beatName": "Solution", "beatSlug": "problem-agitate-solution-solution-provide-relief", "evidence": "The document provides a solution by presenting an alternative slate of nominees and highlighting the benefits of independent governance", "position": 2, "confidence": 0.8, "parentBeatName": "Resolution", "parentBeatSlug": "resolution" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b9c-6ca5cdf749cf", "docSlug": "1d2c5c03ff59", "documentTitle": "Telecom Italia SpA (TIM) (TIT.MI)", "authorId": "02_Elliott_Management", "authorName": "Elliott", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2019-03-01 00:00:00", "orientation": "landscape", "aspectRatio": 1.4444444, "pageNumber": 35, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "Uses news clippings as evidence of legal indictments.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b9c-6ca5cdf749cf/35", "deckHref": "/decks/019dd923-622c-750b-8b9c-6ca5cdf749cf", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9c-6ca5cdf749cf#slide-35", "loopMatches": [], "arcBeatMatches": [ { "to": 39, "from": 21, "beatId": "2923adef-f97c-4b6e-b912-edd656f27057", "arcName": "Problem-Agitate-Solution", "arcSlug": "problem-agitate-solution", "beatName": "Solution", "beatSlug": "problem-agitate-solution-solution-provide-relief", "evidence": "The document provides a solution by presenting an alternative slate of nominees and highlighting the benefits of independent governance", "position": 2, "confidence": 0.8, "parentBeatName": "Resolution", "parentBeatSlug": "resolution" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b9c-6ca5cdf749cf", "docSlug": "1d2c5c03ff59", "documentTitle": "Telecom Italia SpA (TIM) (TIT.MI)", "authorId": "02_Elliott_Management", "authorName": "Elliott", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2019-03-01 00:00:00", "orientation": "landscape", "aspectRatio": 1.4444444, "pageNumber": 36, "slideType": "villain_critique", "function": "name_villain", "notes": "The slide uses a specific case study (SOCFIN/Hubert Fabri) to frame Bolloré's governance and ethical failures.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b9c-6ca5cdf749cf/36", "deckHref": "/decks/019dd923-622c-750b-8b9c-6ca5cdf749cf", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9c-6ca5cdf749cf#slide-36", "loopMatches": [], "arcBeatMatches": [ { "to": 39, "from": 21, "beatId": "2923adef-f97c-4b6e-b912-edd656f27057", "arcName": "Problem-Agitate-Solution", "arcSlug": "problem-agitate-solution", "beatName": "Solution", "beatSlug": "problem-agitate-solution-solution-provide-relief", "evidence": "The document provides a solution by presenting an alternative slate of nominees and highlighting the benefits of independent governance", "position": 2, "confidence": 0.8, "parentBeatName": "Resolution", "parentBeatSlug": "resolution" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b9c-6ca5cdf749cf", "docSlug": "1d2c5c03ff59", "documentTitle": "Telecom Italia SpA (TIM) (TIT.MI)", "authorId": "02_Elliott_Management", "authorName": "Elliott", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2019-03-01 00:00:00", "orientation": "landscape", "aspectRatio": 1.4444444, "pageNumber": 37, "slideType": "expose_contradiction", "function": "expose_contradiction", "notes": "The slide uses a list-based structure to document specific instances of alleged corporate misconduct.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b9c-6ca5cdf749cf/37", "deckHref": "/decks/019dd923-622c-750b-8b9c-6ca5cdf749cf", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9c-6ca5cdf749cf#slide-37", "loopMatches": [], "arcBeatMatches": [ { "to": 39, "from": 21, "beatId": "2923adef-f97c-4b6e-b912-edd656f27057", "arcName": "Problem-Agitate-Solution", "arcSlug": "problem-agitate-solution", "beatName": "Solution", "beatSlug": "problem-agitate-solution-solution-provide-relief", "evidence": "The document provides a solution by presenting an alternative slate of nominees and highlighting the benefits of independent governance", "position": 2, "confidence": 0.8, "parentBeatName": "Resolution", "parentBeatSlug": "resolution" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b9c-6ca5cdf749cf", "docSlug": "1d2c5c03ff59", "documentTitle": "Telecom Italia SpA (TIM) (TIT.MI)", "authorId": "02_Elliott_Management", "authorName": "Elliott", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2019-03-01 00:00:00", "orientation": "landscape", "aspectRatio": 1.4444444, "pageNumber": 38, "slideType": "section_divider", "function": "transition", "notes": null, "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b9c-6ca5cdf749cf/38", "deckHref": "/decks/019dd923-622c-750b-8b9c-6ca5cdf749cf", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9c-6ca5cdf749cf#slide-38", "loopMatches": [], "arcBeatMatches": [ { "to": 39, "from": 21, "beatId": "2923adef-f97c-4b6e-b912-edd656f27057", "arcName": "Problem-Agitate-Solution", "arcSlug": "problem-agitate-solution", "beatName": "Solution", "beatSlug": "problem-agitate-solution-solution-provide-relief", "evidence": "The document provides a solution by presenting an alternative slate of nominees and highlighting the benefits of independent governance", "position": 2, "confidence": 0.8, "parentBeatName": "Resolution", "parentBeatSlug": "resolution" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b9c-6ca5cdf749cf", "docSlug": "1d2c5c03ff59", "documentTitle": "Telecom Italia SpA (TIM) (TIT.MI)", "authorId": "02_Elliott_Management", "authorName": "Elliott", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2019-03-01 00:00:00", "orientation": "landscape", "aspectRatio": 1.4444444, "pageNumber": 39, "slideType": "comparison_table", "function": "compare_peers", "notes": "Uses a green/red color coding to frame the choice as a binary good vs. bad decision.", "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b9c-6ca5cdf749cf/39", "deckHref": "/decks/019dd923-622c-750b-8b9c-6ca5cdf749cf", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9c-6ca5cdf749cf#slide-39", "loopMatches": [], "arcBeatMatches": [ { "to": 39, "from": 21, "beatId": "2923adef-f97c-4b6e-b912-edd656f27057", "arcName": "Problem-Agitate-Solution", "arcSlug": "problem-agitate-solution", "beatName": "Solution", "beatSlug": "problem-agitate-solution-solution-provide-relief", "evidence": "The document provides a solution by presenting an alternative slate of nominees and highlighting the benefits of independent governance", "position": 2, "confidence": 0.8, "parentBeatName": "Resolution", "parentBeatSlug": "resolution" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }, { "docId": "019dd923-622c-750b-8b9c-6ca5cdf749cf", "docSlug": "1d2c5c03ff59", "documentTitle": "Telecom Italia SpA (TIM) (TIT.MI)", "authorId": "02_Elliott_Management", "authorName": "Elliott", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2019-03-01 00:00:00", "orientation": "landscape", "aspectRatio": 1.4444444, "pageNumber": 40, "slideType": "closing_ask", "function": "closing_ask", "notes": null, "imagePath": null, "matchCount": 1, "evidence": null, "slideHref": "/slides/019dd923-622c-750b-8b9c-6ca5cdf749cf/40", "deckHref": "/decks/019dd923-622c-750b-8b9c-6ca5cdf749cf", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9c-6ca5cdf749cf#slide-40", "loopMatches": [], "arcBeatMatches": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true } ] }