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  "documentTitle": "Xerox Corporation (XRX)",
  "authorId": "14_Icahn",
  "authorName": "Carl C. Icahn",
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  "presentationDate": "2018-04-17 00:00:00",
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      "text": "Xerox touts ~$1.2B in \"cost cuts\" over the past two years, but only ~$30M of those \"cuts\" flowed to the bottom line",
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      "text": "SECTION I. UNDERPERFORMANCE, MISMANAGEMENT AND POOR GOVERNANCE AT XEROX; Poor shareholder returns: 1, 3 and 5 year total shareholder returns significantly lag peers and broader benchmarks; Phantom \"cost cuts\": Xerox touts ~$1.2B in \"cost cuts\" over the past two years, but only ~$30M of those \"cuts\" flowed to the bottom line; Disgraceful governance: Failure to disclose \"crown jewel\" lock-up agreement with Fuji for at least 17 years; SECTION II. THE PROPOSED TRANSACTION WITH FUJI – GIVING AWAY CONTROL WITHOUT A PREMIUM; SECTION III. OUR PLAN FOR XEROX – A BETTER, BRIGHTER FUTURE AS A STANDALONE COMPANY; SECTION IV. COMPARING THE VALUE PROPOSITIONS",
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