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  "docSlug": "e685a047c782",
  "documentTitle": "E.I. du Pont de Nemours and Company (DuPont) (DD)",
  "authorId": "06_Trian_Partners",
  "authorName": "Nelson Peltz",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "activist_investor",
  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2015-02-17 00:00:00",
  "orientation": "landscape",
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  "pageNumber": 40,
  "pageCount": 95,
  "prevPage": 39,
  "nextPage": 41,
  "slideType": "peer_gap",
  "function": "expose_gap",
  "density": "dense",
  "nDataPoints": 2,
  "notes": "Uses a scatter plot to show correlation and a bar chart to show performance gap.",
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  "slideHref": "/slides/019dd923-622b-71dc-a6db-4e5c6908a228/40",
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  "components": [
    {
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      "kind": "callout",
      "text": "Into The Recession (2007-2008), DuPont’s EPS Growth Underperformed Peers by 3,000bps",
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    {
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      "kind": "chart",
      "text": "Into The Recession (2007-2008), DuPont's EPS Growth Underperformed Peers by 3,000bps",
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      "kind": "chart",
      "text": "DuPont's Revenues Are Correlated to Industrial Production(1) (1993-2013)",
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      "componentId": "af41002b-5daa-4e65-b448-4a1defe906aa",
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      "kind": "list",
      "text": "DuPont's revenues are highly correlated to industrial production; Trian believes the Company should therefore be measured against peers who have similar exposure to industrial production",
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      "kind": "list",
      "text": "DuPont's proxy peers include companies that we believe are not comparable such as P&G, J&J, Kimberly Clark and Baxter(2). Those companies have vastly different end-markets, cycles and significantly lower volatility than DuPont.",
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    {
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      "kind": "metric",
      "text": "EPS growth: 3,000bps",
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      "kind": "source-note",
      "text": "Source: Goldman Sachs 7/1/2014 report. (1) Note dots represent various years (2) Proxy peers include 3M Company, Emerson Electric Co., Merck & Co., Inc., Air Products & Chemicals, Inc., Honeywell International Inc., Monsanto Company, Baxter International Inc., Ingersoll-Rand plc, The Procter & Gamble Company, The Boeing Company, Johnson & Johnson, Syngenta AG, Caterpillar Inc., Johnson Controls, Inc., and United Technologies Corporation",
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      "kind": "title",
      "text": "While Subjective, Trian Believes DuPont's Proxy Peer Group Is Ill-Fitting",
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      "matchId": "381a2e85-cad2-4dbd-82ba-970f8c6d250d",
      "evidence": "Comparing DuPont to peers to argue for a different peer group selection.",
      "confidence": 0.8
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    {
      "to": 40,
      "from": 30,
      "name": "Cost Of Inaction",
      "slug": "27-cost-of-inaction",
      "bestFor": "Urgent budget requests, compliance, risk mitigation",
      "matchId": "e6afcb1d-79ad-40bd-b462-c4b725b508b5",
      "evidence": "The presentation highlights the costs of inaction for DuPont, including continued underperformance.",
      "position": 1,
      "objective": "What are the costs of inaction for DuPont?",
      "structure": "The Status Quo -> The Hidden Costs Accumulating -> The Future State of Inaction -> The Tipping Point",
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      "description": "Quantify what happens if the audience does nothing"
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