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  "docId": "019dd923-622b-71dc-a6dc-0b4b29bc87ea",
  "docSlug": "ad16f67f6f75",
  "documentTitle": "Health Management Associates (HMA)",
  "authorId": "12_Glenview",
  "authorName": "Larry Robbins",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "activist_investor",
  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2013-07-01 00:00:00",
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  "pageNumber": 6,
  "pageCount": 54,
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  "slideType": "peer_benchmark",
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  "density": "balanced",
  "nDataPoints": 9,
  "notes": "Uses a starburst graphic to emphasize the low return of HMA.",
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      "kind": "callout",
      "text": "HMA returned <1% total shareholder value from 2003 to 2012 – making it a “Lost Decade”",
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      "kind": "chart",
      "text": "Total Shareholder Return: 10-year Period",
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      "kind": "metric",
      "text": "Total Shareholder Return: 0.5%",
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      "kind": "source-note",
      "text": "Source: Bloomberg total shareholder return analysis assuming dividends reinvested in security. 1. “Hospital Group” includes HCA, THC, CYH, LPNT, and UHS except where indicated. 2. HCA reflects total compounded shareholder return from 1/1/03 to 11/17/06 (leveraged buyout date) and 3/10/11 (initial public offering date) to 12/31/12 per Bloomberg analysis.",
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      "text": "HMA 0.5%, HCA 53%, THC -53%, CYH 51%, LPNT 24%, UHS 120%, Average ex-HMA 39%, S&P 500 99%",
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      "kind": "title",
      "text": "THE LOST DECADE – CONSISTENT UNDERPERFORMANCE",
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      "evidence": "The document agitates the issues, highlighting the consequences of the current board and management's actions, including multiple investigations, inconsistent financial management, and misaligned executive incentive compensation.",
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      "evidence": "The document highlights the consistent underperformance of HMA compared to its peers.",
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