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  "docSlug": "9c639b8b1898",
  "documentTitle": "Darden Restaurants, Inc. (DRI)",
  "authorId": "03_Starboard_Value",
  "authorName": "Starboard Value",
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  "sourceTypeSlug": "activist_investor",
  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2014-03-31 00:00:00",
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  "pageNumber": 43,
  "pageCount": 108,
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  "nextPage": 44,
  "slideType": "expose_contradiction",
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  "density": "dense",
  "nDataPoints": 11,
  "notes": "The slide uses a bar chart to highlight the negative trend in Red Lobster's same-store sales, contrasting it with the management's new incentive structure.",
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      "kind": "callout",
      "text": "Red Lobster's negative SSS would adversely weigh on management's new compensation program",
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      "kind": "chart",
      "text": "Red Lobster same-store-sales",
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      "text": "Due to public shareholder pressure... Darden made... a reactionary announcement... to more directly emphasize same-restaurant-sales growth and free cash flow.\nInterestingly, that same day, Darden updated its 2014 financial outlook... due largely to a meaningful downward adjustment in the forecast of same-restaurant sales results at Red Lobster.\nGiven Red Lobster's negative same-store-sales trends, it is clearly no longer in the best interest of management... to retain Red Lobster.",
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      "text": "same-store-sales: -8.8%",
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      "kind": "quote",
      "text": "intends to refine compensation and incentive programs for senior management to more directly emphasize same-restaurant-sales growth and free cash flow. — Darden Restaurants, Inc. (Dec 19, 2013)",
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      "kind": "source-note",
      "text": "Source: Company filings and Wall Street equity research.",
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      "kind": "title",
      "text": "Recent changes to Darden’s compensation programs make owning Red Lobster unfavorable from management’s standpoint",
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      "name": "Cost Of Inaction",
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      "position": 1,
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