{
  "docId": "019dd923-622b-71dc-a6db-4a755dd43689",
  "docSlug": "8b17eeb54806",
  "documentTitle": "PepsiCo (PEP)",
  "authorId": "06_Trian_Partners",
  "authorName": "Nelson Peltz",
  "documentKindSlug": "research-note",
  "documentKindLabel": "Research note",
  "sourceTypeSlug": "activist_investor",
  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2014-02-19 00:00:00",
  "orientation": "portrait",
  "aspectRatio": 0.77272725,
  "pageNumber": 36,
  "pageCount": 41,
  "prevPage": 35,
  "nextPage": 37,
  "slideType": "appendix_disclosure",
  "function": "preempt_rebuttal",
  "density": "sparse",
  "nDataPoints": 1,
  "notes": "Uses a comparison frame to systematically dismantle management's synergy claims.",
  "elementsJson": [
    "headline_text",
    "bullet_list",
    "footnote"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622b-71dc-a6db-4a755dd43689/36",
  "deckHref": "/decks/019dd923-622b-71dc-a6db-4a755dd43689",
  "deckJsonHref": "/decks/019dd923-622b-71dc-a6db-4a755dd43689.json",
  "deckAnchorHref": "/decks/019dd923-622b-71dc-a6db-4a755dd43689#slide-36",
  "components": [
    {
      "bbox": null,
      "kind": "callout",
      "text": "Historically, we do not believe snacks has helped beverages grow internationally nor has beverages helped snacks.",
      "attrs": null,
      "subkind": null,
      "toolName": "Visual emphasis",
      "toolSlug": "visual-emphasis",
      "confidence": null,
      "componentId": "019dd953-1ac2-71b6-bf50-7dee0424e6c2",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.1,
        "w": 0.85,
        "x": 0.08,
        "y": 0.85
      },
      "kind": "disclaimer",
      "text": "Note: The estimates, projections, pro-forma information and potential impact of Trian's ideas set forth herein are based on assumptions that Trian believes to be reasonable...",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "f222e1cb-8150-42c5-ac70-102fd93df45e",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.65,
        "w": 0.85,
        "x": 0.08,
        "y": 0.18
      },
      "kind": "table",
      "text": "Comparison of Claimed Synergies vs Trian Response",
      "attrs": null,
      "subkind": "data",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "156584be-5195-47ea-b8b2-c3e8bbb07eb0",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.03,
        "w": 0.45,
        "x": 0.08,
        "y": 0.12
      },
      "kind": "title",
      "text": "Appendix G: International Expansion: A Power of One Myth?",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "12dff01f-67ea-42eb-a52a-6ccc94e3b836",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [
    {
      "name": "comparison-frame",
      "slug": null,
      "matchId": "7f29294b-9323-4c6f-8833-0331495cccde",
      "evidence": "Table structure contrasting 'Claimed Synergies' with 'Trian Response'",
      "confidence": 1
    }
  ],
  "arcBeats": [],
  "loops": [
    {
      "to": 39,
      "from": 28,
      "name": "Cost Of Inaction",
      "slug": "27-cost-of-inaction",
      "bestFor": "Urgent budget requests, compliance, risk mitigation",
      "matchId": "c3653c19-c95b-4b9e-b777-8d7d55cf49c7",
      "evidence": "The document presents data and analysis on the potential costs of inaction.",
      "position": 1,
      "objective": "To highlight the costs of inaction and the potential benefits of separation.",
      "structure": "The Status Quo -> The Hidden Costs Accumulating -> The Future State of Inaction -> The Tipping Point",
      "confidence": 0.7,
      "description": "Quantify what happens if the audience does nothing"
    }
  ],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}