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  "documentTitle": "General Electric (GE)",
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  "authorName": "Trian Partners",
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  "presentationDate": "2015-10-05 00:00:00",
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      "kind": "callout",
      "text": "We believe that consistent, methodical, and well-articulated capital allocation policies improve valuation over time",
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      "text": "Strategic: Acquisition targets should fit within the GE “Store”\nMinimum unlevered IRR: Publicly commit to minimum return threshold for M&A\nAccretive in 2-3 years: Acquisitions should provide a better return than purchasing GE shares",
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      "text": "No cash drag: Consistent distribution of excess cash to shareholders through buybacks\nDiluted shares should go down almost every year",
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      "text": "2. Annually Sweep Excess Capital to Reduce Shares",
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      "text": "1. M&A Parameters",
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      "text": "3. Capital Allocation: Set Parameters on M&A and Reduce Shares Methodically",
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