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  "documentTitle": "Buffalo Wild Wings (BWLD)",
  "authorId": "07_Marcato",
  "authorName": "Marcato",
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  "presentationDate": "2016-06-13 00:00:00",
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      "text": "C. ESTABLISH EXPLICIT CAPITAL ALLOCATION STRATEGY: Articulate a strategy for future capital deployment; Considerations include current excess capital and future free cash flow; Target an appropriate mix of debt and equity.",
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      "text": "A. FRANCHISING STRATEGY: Sell stores to new and existing franchisees to unlock capital; Target 90% mix of franchised stores by 2020; Invest in resources to accelerate international franchise growth.",
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      "text": "D. REALIGN MANAGEMENT INCENTIVES: Management compensation should be restructured to incentivize returns on capital and per-share value rather than top-line growth or profit dollars.",
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      "text": "B. REINVIGORATE CORE BUSINESS: Engage operational consultants to revitalize same-store sales; New restaurant concepts are a distraction for management and for investors: focus on the core business.",
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      "text": "A MULTI-LEVEL PLAN TO CREATE VALUE FOR BWLD SHAREHOLDERS",
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