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  "documentTitle": "State Street Corporation (STT)",
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  "authorName": "Trian Partners",
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      "text": "Because State Street allowed its cost base to balloon in the good times and failed to rationalize costs when cyclical revenue reverted to norms",
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      "text": "Source: SEC Filings. (1) 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": "A Need to Manage Through the Cycle (Cont'd)",
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