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  "documentTitle": "E.I. du Pont de Nemours and Company (DuPont) (DD)",
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  "authorName": "Nelson Peltz",
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  "presentationDate": "2015-02-17 00:00:00",
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  "notes": "Uses red circles to highlight correlation between EPS spikes and price index recovery.",
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      "kind": "callout",
      "text": "Management shouldn't take credit for half of a “chemical cycle”, while not also taking into account performance into the downdraft",
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      "text": "EPS Growth Was Generated Primarily By The Cyclical Recovery",
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      "text": "Industrial Chemical Prices Index",
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      "text": "Under current management, the only time DuPont achieved its stated goal of 12% EPS growth was in 2010 and 2011. Trian believes that EPS growth in 2010 and 2011 was driven by the cyclical snap back from unprecedented dislocations in the commodity markets during the financial crisis",
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      "kind": "source-note",
      "text": "Source: SEC Filings & DuPont Sept 2014 Presentation, (1) Source: Bureau of Labor Statistics (BLS)... (2) Midpoint of Company guidance...",
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      "text": "Trian Believes The Only EPS Growth Management Achieved Was Driven By The Cyclical Recovery",
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