{
  "docId": "019dd923-622b-71dc-a6db-548937484e86",
  "docSlug": "67e30c6378be",
  "documentTitle": "General Electric (GE)",
  "authorId": "06_Trian_Partners",
  "authorName": "Trian Partners",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "activist_investor",
  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2015-10-05 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.3333334,
  "pageNumber": 77,
  "pageCount": 81,
  "prevPage": 76,
  "nextPage": 78,
  "slideType": "key_takeaways",
  "function": "summarize",
  "density": "dense",
  "nDataPoints": 2,
  "notes": null,
  "elementsJson": [
    "headline_text",
    "bullet_list",
    "footnote"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622b-71dc-a6db-548937484e86/77",
  "deckHref": "/decks/019dd923-622b-71dc-a6db-548937484e86",
  "deckJsonHref": "/decks/019dd923-622b-71dc-a6db-548937484e86.json",
  "deckAnchorHref": "/decks/019dd923-622b-71dc-a6db-548937484e86#slide-77",
  "components": [
    {
      "bbox": null,
      "kind": "callout",
      "text": "At <14x pro forma 2015 earnings, we believe the market underestimates this change",
      "attrs": null,
      "subkind": null,
      "toolName": "Visual emphasis",
      "toolSlug": "visual-emphasis",
      "confidence": null,
      "componentId": "019dd953-0935-737e-8dbf-a9066c54775c",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.15,
        "w": 0.88,
        "x": 0.06,
        "y": 0.82
      },
      "kind": "disclaimer",
      "text": "Source: Company SEC filings, presentations, press releases, and Trian estimates.\nNote: The estimates, projections, pro forma information and potential impact of the opportunities identified by Trian Partners herein are based on assumptions that Trian Partners believes to be reasonable as of the date of this presentation, but there can be no assurance or guarantee that actual results or performance will not differ, and such differences may be material. Unless otherwise indicated, the figures set forth in this presentation have not been calculated using generally accepted accounting principles (GAAP) and have not been audited by independent accountants. Such figures may vary from GAAP accounting in material respects and there can be no assurance that the unrealized values reflected in this presentation will be realized. This presentation does not recommend the purchase or sale of any security.\n(1) Pro forma for Alstom acquisition, announced GECC capital returns and Synchrony split-off. Alstom acquisition is subject to closing conditions. GECC capital returns and Synchrony split-off are subject to regulatory approval.",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "7b063372-6f7b-47fc-8388-b9caab600e1b",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.65,
        "w": 0.88,
        "x": 0.06,
        "y": 0.11
      },
      "kind": "list",
      "text": "GE is one of the world's great businesses\nWe have followed GE for many years and have a strong relationship with management\nGE's transformation is significant: +90% Industrial EPS (vs. 40-60% historically); significant potential capital return; continued margin improvement; focused industrial portfolio\nAt <14x pro forma 2015 earnings, we believe the market underestimates this change(1)\nWe intend to work with management to help realize the substantial value in GE",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "a11886c1-1fae-4754-bd8a-5a4999f3e588",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "metric",
      "text": "P/E ratio: <14x",
      "attrs": null,
      "subkind": "primary",
      "toolName": "Quantification",
      "toolSlug": "quantification",
      "confidence": null,
      "componentId": "019dd953-0935-737e-8dbf-ae75f7b1af17",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.06,
        "w": 0.22,
        "x": 0.06,
        "y": 0.04
      },
      "kind": "title",
      "text": "Conclusion",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "5aa58f8d-2ae6-4e8b-b9cf-fe5c029e8ec4",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [],
  "arcBeats": [],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}