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  "documentTitle": "State Street Corporation (STT)",
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  "presentationDate": "2011-10-16 00:00:00",
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  "notes": "Uses a dual-chart layout to contrast EPS decline with compensation growth.",
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      "text": "How is it that in 2010 shareholders paid more in compensation than in any year except 2008 to produce the lowest amount of EPS in recent history?",
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      "text": "State Street Operating Earnings Per Share",
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      "text": "In 2010, shareholders paid employees just under $500mm more in compensation than in 2009 for $0.14 less earnings per share\nIn 2010, shareholders paid over $700mm more for compensation than in 2006 for $0.24 less earnings per share",
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      "text": "Operating Earnings Per Share: $3.19",
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      "text": "How is it that in 2010 shareholders paid more in compensation than in any year except 2008 to produce the lowest amount of EPS in recent history?",
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      "text": "Source: SEC Filings. (1) Excludes investment gains / (losses), loan loss provisions, and insurance reserve recovery. See Appendix C for reconciliation to State Street Operating EPS. (2) Represents FY 2006 State Street and Investors Financial combined financial statements pro forma for management's publicly targeted cost synergies. See Appendix A.",
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      "text": "In Effect, Shareholders Have Subsidized Increases in Employee Compensation",
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