{
  "docId": "019dd923-622b-71dc-a6db-d7ec795689aa",
  "docSlug": "fe2831a5a971",
  "documentTitle": "TPC Group Inc. (TPCG)",
  "authorId": "08_Sandell",
  "authorName": "Sandell Asset Management",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "activist_investor",
  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2012-10-01 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.2941177,
  "pageNumber": 3,
  "pageCount": 9,
  "prevPage": 2,
  "nextPage": 4,
  "slideType": "executive_summary",
  "function": "summarize",
  "density": "sparse",
  "nDataPoints": 2,
  "notes": "The slide uses a bulleted list structure to present arguments against a corporate transaction.",
  "elementsJson": [
    "headline_text",
    "bullet_list",
    "callout_box"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622b-71dc-a6db-d7ec795689aa/3",
  "deckHref": "/decks/019dd923-622b-71dc-a6db-d7ec795689aa",
  "deckJsonHref": "/decks/019dd923-622b-71dc-a6db-d7ec795689aa.json",
  "deckAnchorHref": "/decks/019dd923-622b-71dc-a6db-d7ec795689aa#slide-3",
  "components": [
    {
      "bbox": {
        "h": 0.08,
        "w": 0.74,
        "x": 0.13,
        "y": 0.86
      },
      "kind": "callout",
      "text": "Sandell intends to vote against the deal, encourages fellow shareholders to do the same and seeks to have the Company run a proper auction to maximize shareholder values.",
      "attrs": null,
      "subkind": "primary",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "48590b0b-77fa-4ba8-8bf8-cf7c3ffc68d8",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.65,
        "w": 0.86,
        "x": 0.07,
        "y": 0.18
      },
      "kind": "list",
      "text": "Sandell Asset Management Corp. (SAMC) holds 7.0% of the outstanding shares of TPC Group (TPCG). Upon reading the preliminary proxy statement, we stand by our belief that the sale process was flawed and tainted by 'self-dealing'...",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "69ab21ba-42d0-461a-b365-1ef0061d1f5b",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.04,
        "w": 0.4,
        "x": 0.07,
        "y": 0.07
      },
      "kind": "title",
      "text": "SAMC Analysis of TPC Group Inc.",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "f0062217-e4a7-441a-886f-b9af372fb26e",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.03,
        "w": 0.2,
        "x": 0.07,
        "y": 0.12
      },
      "kind": "title",
      "text": "Executive Summary",
      "attrs": null,
      "subkind": "subtitle",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "797a515a-742e-40ca-a2bd-7e88f2f58473",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [
    {
      "name": "Call to action",
      "slug": "call-to-action",
      "agent": null,
      "layer": "slide",
      "matchId": "369e8748-f146-4d23-a89f-5bc7f0236e09",
      "evidence": "The slide encourages fellow shareholders to vote against the deal and seek a proper auction.",
      "confidence": 0.7
    },
    {
      "name": "Executive summary",
      "slug": "executive-summary",
      "agent": null,
      "layer": "slide",
      "matchId": "a6ac85fb-16f5-49df-a642-66ad09d2c395",
      "evidence": "The slide provides a summary of the key points, including Sandell Asset Management Corp.'s position and intentions.",
      "confidence": 0.9
    }
  ],
  "frameworks": [],
  "arcBeats": [
    {
      "to": 5,
      "from": 3,
      "beatId": "0d9bcd7b-048f-4f0f-98c0-a298e55808d1",
      "arcName": "Overcoming the Monster",
      "arcSlug": "overcoming-monster",
      "beatName": "The Monster",
      "beatSlug": "overcoming-monster-the-monster",
      "evidence": "The presentation exposes contradictions and misdirection in TPCG's business model",
      "position": 0,
      "confidence": 0.8,
      "parentBeatName": "Hook",
      "parentBeatSlug": "hook"
    }
  ],
  "loops": [
    {
      "to": 9,
      "from": 3,
      "name": "Cost Of Inaction",
      "slug": "27-cost-of-inaction",
      "bestFor": "Urgent budget requests, compliance, risk mitigation",
      "matchId": "c832cdea-6a3b-4f51-9091-b01475c58018",
      "evidence": "The presentation implies that investors should take action based on the analysis",
      "position": 1,
      "objective": "Highlight the consequences of not taking action",
      "structure": "The Status Quo -> The Hidden Costs Accumulating -> The Future State of Inaction -> The Tipping Point",
      "confidence": 0.6,
      "description": "Quantify what happens if the audience does nothing"
    }
  ],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}