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  "documentTitle": "General Electric (GE)",
  "authorId": "06_Trian_Partners",
  "authorName": "Trian Partners",
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  "presentationDate": "2015-10-05 00:00:00",
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  "notes": "The slide uses a financial bridge calculation to quantify value destruction.",
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      "kind": "callout",
      "text": "~$11 per share of value degradation...~45% of today's share price",
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      "text": "Contrary to popular perception, GE Capital's run-off did not free up capital to return to shareholders\nFrom 2007 to 2014, GE Capital lost $0.50 in earnings while also requiring an ADDITIONAL ~$3.30 per share of capital",
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      "text": "Value Decline: $11.20",
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      "text": "Source: Company SEC filings. Note: Figures rounded.",
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      "text": "GE Capital: Financial Impact to GE. Earnings Impact: 2007 GECC EPS $1.22, 2014 GECC EPS $0.69, EPS Decline ($0.53), x P/E 15x, Value Decline ($7.90). Capital Impact: 2007 TBVPS $2.80, 2014 TBVPS $6.10, Capital Invested ($3.30). Total: ($11.20)",
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      "kind": "title",
      "text": "GE Capital Had Been a Substantial Earnings & Capital Drag",
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