{ "docId": "019dd923-622b-71dc-a6db-bdca37d75b59", "docSlug": "5fc8a35c21e4", "documentTitle": "The Bank of New York Mellon (BK)", "authorId": "07_Marcato", "authorName": "Marcato Capital Management", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2015-03-01 00:00:00", "orientation": "landscape", "aspectRatio": 1.2941177, "pageNumber": 99, "pageCount": 153, "prevPage": 98, "nextPage": 100, "slideType": "ceo_quote", "function": "cite_precedent", "density": "overcrowded", "nDataPoints": 0, "notes": "The slide uses a book cover image as a visual anchor for the authority citation.", "elementsJson": [ "headline_text", "photo", "quote_block" ], "metadataConfidence": 1, "imagePath": null, "slideHref": "/slides/019dd923-622b-71dc-a6db-bdca37d75b59/99", "deckHref": "/decks/019dd923-622b-71dc-a6db-bdca37d75b59", "deckJsonHref": "/decks/019dd923-622b-71dc-a6db-bdca37d75b59.json", "deckAnchorHref": "/decks/019dd923-622b-71dc-a6db-bdca37d75b59#slide-99", "components": [ { "bbox": null, "kind": "callout", "text": "Whether dwelling on a problem, hiding a problem or dribbling out partial solutions to a problem while you wait for a high tide to raise your boat - dithering and delay almost always compound a negative situation.", "attrs": null, "subkind": null, "toolName": "Visual emphasis", "toolSlug": "visual-emphasis", "confidence": null, "componentId": "019dd953-0933-75bb-9c00-f9abe3f20f31", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.55, "w": 0.28, "x": 0.06, "y": 0.238 }, "kind": "image", "text": "Book cover: Who Says Elephants Can't Dance?", "attrs": null, "subkind": "illustration", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "f9f2e269-c406-4efd-a24f-ecf4f2710b85", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.25, "w": 0.55, "x": 0.37, "y": 0.48 }, "kind": "quote", "text": "I've had a lot of experience turning around troubled companies, and one of the first things I learned was that whatever hard or painful things you have to do, do them quickly and make sure everyone knows what you are doing and why. Whether dwelling on a problem, hiding a problem or dribbling out partial solutions to a problem while you wait for a high tide to raise your boat - dithering and delay almost always compound a negative situation. I believe in getting the problem behind me quickly and moving on", "attrs": null, "subkind": "testimonial", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "8fe9a2f3-c7dd-45bb-9c11-dbfc244bb025", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.15, "w": 0.55, "x": 0.37, "y": 0.28 }, "kind": "quote", "text": "If we have too many people, let's right-size fast; let's get it done by the end of the third quarter. I explained that what I meant by right-size is straightforward: 'We have to benchmark our costs versus our competitors and then achieve best-in-class status'. I also remarked that we had to stop saying that IBM didn't lay off people", "attrs": null, "subkind": "testimonial", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "fe12a2ea-bc51-437a-8365-73f055570a6d", "frameworkName": null, "frameworkSlug": null }, { "bbox": null, "kind": "quote", "text": "\"If we have too many people, let's right-size fast; let's get it done by the end of the third quarter.' I explained that what I meant by right-size is straightforward: 'We have to benchmark our costs versus our competitors and then achieve best-in-class status'. I also remarked that we had to stop saying that IBM didn't lay off people\" — Lou Gerstner, CEO of IBM (1993 – 2002). \"I've had a lot of experience turning around troubled companies, and one of the first things I learned was that whatever hard or painful things you have to do, do them quickly and make sure everyone knows what you are doing and why. Whether dwelling on a problem, hiding a problem or dribbling out partial solutions to a problem while you wait for a high tide to raise your boat - dithering and delay almost always compound a negative situation. I believe in getting the problem behind me quickly and moving on\" — Lou Gerstner, CEO of IBM (1993 – 2002).", "attrs": null, "subkind": null, "toolName": "Authority citation", "toolSlug": "authority-citation", "confidence": null, "componentId": "019dd953-0933-75bb-9c00-fe7896c4dc20", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.02, "w": 0.2, "x": 0.26, "y": 0.91 }, "kind": "source-note", "text": "Source: Lou Gerstner \"Who Says Elephants Can't Dance\"", "attrs": null, "subkind": null, "toolName": null, "toolSlug": null, "confidence": null, "componentId": "f85c474c-c3e8-4483-9851-2eac9935f728", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.05, "w": 0.6, "x": 0.05, "y": 0.11 }, "kind": "title", "text": "3. Aggressive Headcount Reduction Initiative (cont'd)", "attrs": null, "subkind": "headline", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "198285ab-f678-4333-a39e-e5d0515b801c", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.03, "w": 0.3, "x": 0.37, "y": 0.23 }, "kind": "title", "text": "Lou Gerstner, CEO of IBM (1993 – 2002):", "attrs": null, "subkind": "subtitle", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "41c94dd4-e635-4cf1-a0d0-921fe7ee6add", "frameworkName": null, "frameworkSlug": null } ], "metrics": [], "tools": [], "frameworks": [ { "name": "authority-citation", "slug": null, "matchId": "4c0c5ec7-f693-4f74-b708-9b0aa37e25e6", "evidence": "Uses Lou Gerstner's book to validate the strategy of aggressive headcount reduction.", "confidence": 0.9 } ], "arcBeats": [], "loops": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }