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  "documentTitle": "Crown Castle International Corp. (CCI)",
  "authorId": "11_Corvex",
  "authorName": "Corvex Management",
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  "presentationDate": "2014-10-14 00:00:00",
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  "notes": "The 'Status Quo' column is visually crossed out with a red X to indicate rejection.",
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      "text": "Either way, we firmly believe the status quo is inferior to both options and therefore unacceptable",
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      "text": "Consistent with driving predictable, risk-adjusted returns from the U.S. wireless market; Aligns with the CCI's long-term financial model as a REIT with high payout ratio; Additionally, we think management may already be considering this option.",
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      "text": "payout ratio: $4.00",
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      "text": "CCI now faces two clear options in our view: (i) increase its payout ratio, or (ii) increase leverage. While we believe both paths have strong merit, we believe the first option is the best fit for the Company's current business plans and DNA.",
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