{
  "docId": "019dd923-622b-71dc-a6db-1a1703a09996",
  "docSlug": "4a0ccfd95a60",
  "documentTitle": "Sotheby's (BID)",
  "authorId": "05_Third_Point",
  "authorName": "Daniel S. Loeb",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "activist_investor",
  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2014-04-01 00:00:00",
  "orientation": "portrait",
  "aspectRatio": 0.77272725,
  "pageNumber": 14,
  "pageCount": 30,
  "prevPage": 13,
  "nextPage": 15,
  "slideType": "expose_contradiction",
  "function": "expose_contradiction",
  "density": "balanced",
  "nDataPoints": 14,
  "notes": "Uses red circles and arrows to highlight the delta between 2007 and 2013 for both revenue and expenses.",
  "elementsJson": [
    "headline_text",
    "subtitle_text",
    "bar_chart_vertical",
    "footnote"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622b-71dc-a6db-1a1703a09996/14",
  "deckHref": "/decks/019dd923-622b-71dc-a6db-1a1703a09996",
  "deckJsonHref": "/decks/019dd923-622b-71dc-a6db-1a1703a09996.json",
  "deckAnchorHref": "/decks/019dd923-622b-71dc-a6db-1a1703a09996#slide-14",
  "components": [
    {
      "bbox": null,
      "kind": "callout",
      "text": "More importantly, relative to 2007 (prior peak), revenue is down and expenses are up",
      "attrs": null,
      "subkind": null,
      "toolName": "Visual emphasis",
      "toolSlug": "visual-emphasis",
      "confidence": null,
      "componentId": "019dd953-0393-73a7-a0af-958411c66fe7",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.4,
        "w": 0.45,
        "x": 0.05,
        "y": 0.35
      },
      "kind": "chart",
      "text": "Sotheby's Revenue (2007-2013)",
      "attrs": null,
      "subkind": "bar-vertical",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "14e4b5e4-7793-448e-90b1-c4b21406253e",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.4,
        "w": 0.45,
        "x": 0.52,
        "y": 0.35
      },
      "kind": "chart",
      "text": "Sotheby's Expenses (2007-2013)",
      "attrs": null,
      "subkind": "bar-vertical",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "57a90936-736f-47fa-bb74-77559c8a3331",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "metric",
      "text": "Revenue and Expenses",
      "attrs": null,
      "subkind": "primary",
      "toolName": "Quantification",
      "toolSlug": "quantification",
      "confidence": null,
      "componentId": "019dd953-0393-73a7-a0af-99e35bca9da5",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.08,
        "w": 0.9,
        "x": 0.05,
        "y": 0.85
      },
      "kind": "source-note",
      "text": "Note: revenue includes auction commissions... Source: Third Point LLC; Company filings",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "5aacb5ed-3d12-4ad4-84a6-05b9ea92f313",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.03,
        "w": 0.8,
        "x": 0.05,
        "y": 0.12
      },
      "kind": "title",
      "text": "More importantly, relative to 2007 (prior peak), revenue is down and expenses are up",
      "attrs": null,
      "subkind": "action-title",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "3a6810a7-a252-411f-9a01-eacfd6a03d28",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.03,
        "w": 0.4,
        "x": 0.05,
        "y": 0.08
      },
      "kind": "title",
      "text": "Sotheby's: Revenue and Expenses",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "b8b109f7-190e-4992-820b-d54484b672b2",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [
    {
      "name": "fraud-exposure",
      "slug": null,
      "matchId": "b28253e3-c264-4f5a-8426-09225ecf5556",
      "evidence": "Highlights contradiction between stated cost savings and rising expenses.",
      "confidence": 0.8
    }
  ],
  "arcBeats": [],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}