{
  "docId": "019dd923-622b-71dc-a6d9-c007c91e862b",
  "docSlug": "28a425ed69eb",
  "documentTitle": "Darden Restaurants, Inc. (DRI)",
  "authorId": "03_Starboard_Value",
  "authorName": "Starboard Value",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "activist_investor",
  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2014-09-11 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.3333334,
  "pageNumber": 128,
  "pageCount": 294,
  "prevPage": 127,
  "nextPage": 129,
  "slideType": "problem_statement",
  "function": "diagnose_problem",
  "density": "overcrowded",
  "nDataPoints": 8,
  "notes": "The slide uses a bar chart to establish a performance gap, followed by a list of failures and a specific proposal for operational changes.",
  "elementsJson": [
    "headline_text",
    "bar_chart_vertical",
    "bullet_list",
    "data_table",
    "footnote"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622b-71dc-a6d9-c007c91e862b/128",
  "deckHref": "/decks/019dd923-622b-71dc-a6d9-c007c91e862b",
  "deckJsonHref": "/decks/019dd923-622b-71dc-a6d9-c007c91e862b.json",
  "deckAnchorHref": "/decks/019dd923-622b-71dc-a6d9-c007c91e862b#slide-128",
  "components": [
    {
      "bbox": {
        "h": 0.12,
        "w": 0.25,
        "x": 0.72,
        "y": 0.83
      },
      "kind": "callout",
      "text": "5.9% of current repair and maintenance costs and 0.9% of other restaurant expenses",
      "attrs": null,
      "subkind": "primary",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "e2598426-ce4b-4866-8a92-5b334cf37224",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "callout",
      "text": "Darden launched a major R&M initiative in 2012 to centralize R&M with a savings target of $15 - $20 million, but these savings were not realized.",
      "attrs": null,
      "subkind": null,
      "toolName": "Visual emphasis",
      "toolSlug": "visual-emphasis",
      "confidence": null,
      "componentId": "019dd952-f5cf-7048-87e6-de4d60cb67fc",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.25,
        "w": 0.7,
        "x": 0.15,
        "y": 0.18
      },
      "kind": "chart",
      "text": "Estimated 2014 R&M spend per store",
      "attrs": null,
      "subkind": "bar-vertical",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "2834e41b-a1c4-489c-b86b-355f91a750e7",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.15,
        "w": 0.92,
        "x": 0.04,
        "y": 0.4
      },
      "kind": "list",
      "text": "Darden launched a major R&M initiative in 2012 to centralize R&M with a savings target of $15 - $20 million, but these savings were not realized. Darden budgets R&M costs at 2% of sales, but most R&M costs do not vary with sales.",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "c06c5d4d-b870-4b9f-b30a-32d49d40d674",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.25,
        "w": 0.92,
        "x": 0.04,
        "y": 0.55
      },
      "kind": "list",
      "text": "Developing and implementing a comprehensive program to enhance the R&M savings effort will realize an estimated $7 - $10 million ($7 - $9K per store) for Darden. Darden must: Promote competitive bidding processes by providers. Give Director of Operations and GMs options to choose their preferred vendor from a selected list of corporate-approved contractors.",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "fbaf02a9-2bb1-4d97-b402-16917d344769",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "metric",
      "text": "R&M spend per store: $65K - $75K",
      "attrs": null,
      "subkind": "primary",
      "toolName": "Quantification",
      "toolSlug": "quantification",
      "confidence": null,
      "componentId": "019dd952-f5cf-7048-87e6-e2c403060216",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.03,
        "w": 0.4,
        "x": 0.04,
        "y": 0.95
      },
      "kind": "source-note",
      "text": "(1) Estimates of total repairs and maintenance costs, within industry standard of 1.5% - 2.5% of sales.",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "fcc414e5-f6ed-422e-b41f-a48cfa665d29",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.12,
        "w": 0.65,
        "x": 0.04,
        "y": 0.83
      },
      "kind": "table",
      "text": "Previous opportunities $177.0 million; + Repairs and maintenance opportunity $10.0 million; Cumulative opportunity $187 million",
      "attrs": null,
      "subkind": "data",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "7d0fc3e5-0fa1-4132-aca9-00c351854b1b",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.12,
        "w": 0.92,
        "x": 0.04,
        "y": 0.04
      },
      "kind": "title",
      "text": "We believe Darden's prior initiatives to better manage R&M have been ineffective",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "462a530a-a9da-4be2-bff9-aeb139df2ca8",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [
    {
      "name": "diagnostic-test",
      "slug": null,
      "matchId": "57038d12-8d79-46b9-b45e-900d5d935383",
      "evidence": "The slide identifies a performance gap (higher spend) and proposes a corrective operational change.",
      "confidence": 0.8
    }
  ],
  "arcBeats": [],
  "loops": [
    {
      "to": 149,
      "from": 90,
      "name": "Mece Breakdown",
      "slug": "40-mece-breakdown",
      "bestFor": "Problem structuring, ensuring completeness, strategic analysis",
      "matchId": "0f178970-f2d9-432d-be55-20ecf4c3c54b",
      "evidence": "The document presents a detailed breakdown of the opportunities for improvement at Darden, including specific areas such as food costs, labor, and marketing.",
      "position": 1,
      "objective": "Break down the opportunities for improvement at Darden into specific areas",
      "structure": "The Whole -> Category A (distinct) -> Category B (distinct) -> Category C (distinct) -> Complete Coverage",
      "confidence": 0.6,
      "description": "Divide a complex topic into mutually exclusive, collectively exhaustive categories"
    }
  ],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}