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  "documentTitle": "Health Management Associates (HMA)",
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  "authorName": "Larry Robbins",
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      "text": "Shareholder-unfriendly debt provisions: 2009 Delaware court concerns regarding fiduciary duties and HMA's subsequent adoption of such provisions.",
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      "text": "Shareholder-unfriendly defensive tactics: Poison Pill, historical avoidance of strategic alternatives, and value-destructive leverage decisions.",
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      "text": "Insular Board - in need of revitalization: Average tenure of 17 years, only 1 new director in 8 years; 7 of 8 independent directors presided over the Lost Decade.",
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      "kind": "quote",
      "text": "\"when it came to serious discussions, I [Schoen] recommended to the board that we look at all our alternatives.\" — Chairman Bill Schoen",
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      "text": "EXECUTIVE SUMMARY – THE CASE FOR CHANGE AT HMA",
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