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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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  "notes": "Uses direct quotes from earnings transcripts to undermine management credibility.",
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      "text": "Unallocated Corporate Cost Reduction: Coatings ($ in millions)",
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      "text": "Trian's Perspective: The $1.3bn claim is really $925m given the fact that $375m is a transfer of costs (to Chemours), not a cost reduction.",
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      "text": "Management's Claimed Cost Savings: \"...I'm also pleased to note that we have increased our cost reduction target by approximately $300 million to at least $1.3 billion of total expected savings to be achieved on a run-rate basis by 2017.\"",
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      "text": "\"...I'm also pleased to note that we have increased our cost reduction target by approximately $300 million to at least $1.3 billion of total expected savings to be achieved on a run-rate basis by 2017.\" — DuPont Q4 2014 earnings transcript",
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      "text": "(1) Source: Q4 2014 Earnings call. (2) Source: DuPont SEC filings.",
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