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  "documentTitle": "General Electric (GE)",
  "authorId": "06_Trian_Partners",
  "authorName": "Trian Partners",
  "documentKindSlug": "activist-deck",
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  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2015-10-05 00:00:00",
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  "pageNumber": 24,
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  "notes": "Uses a causal arrow to link internal structural issues to external financial performance metrics.",
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      "text": "Structural Problems",
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      "text": "Share price ~35% below 2001 levels\nTotal shareholder return (TSR) significantly trails the S&P 500 and industrial peers over the past 10 years\nEPS growth of ~1% per year since 2004, significantly below that of industrial peers\nDividend remains ~25% below 2008 levels",
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      "text": "1) Outsized dependence on GE Capital\n2) Unfocused industrial portfolio\n3) Cost and complexity overwhelmed scale benefits\n4) Capital allocation drove mixed results",
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      "text": "EPS growth: ~1%",
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      "kind": "source-note",
      "text": "Source: Bloomberg as of October 2, 2015, SEC filings.",
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      "text": "A Tough Decade",
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      "structure": "The Old Way (Pain) -> The Moment of Change -> The New Way (Glory) -> The Measurable Delta",
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