{ "docId": "019dd923-622b-71dc-a6dc-3b6d17d91123", "docSlug": "7848c04aef2c", "documentTitle": "Southwest Airlines (LUV)", "authorId": "14_Icahn", "authorName": "John Pike and Bobby Xu", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2024-06-10 00:00:00", "orientation": "portrait", "aspectRatio": 0.77272725, "pageNumber": 74, "pageCount": 78, "prevPage": 73, "nextPage": 75, "slideType": "testimonial", "function": "illustrate_case", "density": "overcrowded", "nDataPoints": 0, "notes": "The slide uses external validation (testimonials) to build a case against the current leadership.", "elementsJson": [ "headline_text", "paragraph", "quote_block" ], "metadataConfidence": 1, "imagePath": null, "slideHref": "/slides/019dd923-622b-71dc-a6dc-3b6d17d91123/74", "deckHref": "/decks/019dd923-622b-71dc-a6dc-3b6d17d91123", "deckJsonHref": "/decks/019dd923-622b-71dc-a6dc-3b6d17d91123.json", "deckAnchorHref": "/decks/019dd923-622b-71dc-a6dc-3b6d17d91123#slide-74", "components": [ { "bbox": { "h": 0.06, "w": 0.78, "x": 0.11, "y": 0.16 }, "kind": "paragraph", "text": "In addition to hearing from shareholders, we have received feedback on our views both publicly and privately from some of Southwest’s employees. For an illustrative example of the feedback we’ve heard, consider the sentiments expressed by SWAPA’s leadership on July 1:", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "0b6bde61-ffef-40b5-8bd8-72fbc25e9f25", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.08, "w": 0.78, "x": 0.11, "y": 0.43 }, "kind": "paragraph", "text": "In addition to this sort of public commentary, we have also received a deluge of unsolicited private expressions of support from individuals representing themselves as current and former employees of Southwest – many of whom were in strong agreement with our analysis of the Company’s recent performance and our calls for change:", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "ed63b6b7-3036-471c-b0ac-17f3ca1e5905", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.04, "w": 0.78, "x": 0.11, "y": 0.71 }, "kind": "quote", "text": "“As a SWA employee of more than 23 years, I am in complete agreement with your analysis. I have been screaming this for 15 years.” – Current Employee", "attrs": null, "subkind": "testimonial", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "3bce7bca-ca06-433c-b592-a3bf8eb0d182", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.07, "w": 0.78, "x": 0.11, "y": 0.53 }, "kind": "quote", "text": "“I’m a retired Southwest Captain and I couldn’t agree with you more... our famous culture is dying a slow, painful death.” – Former Employee", "attrs": null, "subkind": "testimonial", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "64081b92-93e1-4e50-9b2a-fa0ae4362b9f", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.07, "w": 0.78, "x": 0.11, "y": 0.62 }, "kind": "quote", "text": "“Not only do I have a vested interest in the success of the company... I agree that a new leadership team is needed.” – Current Employee", "attrs": null, "subkind": "testimonial", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "64dea5d3-4797-4f7e-82f8-cd466dc7f022", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.18, "w": 0.78, "x": 0.11, "y": 0.23 }, "kind": "quote", "text": "“We see the numbers, not just every quarter when we have the board meeting here, but we know where the trajectory has been... I mentioned the word disdain before and I’m going to say it again... It’s been disregarded.” – SWAPA Leadership", "attrs": null, "subkind": "testimonial", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "676f5924-b635-4db9-a480-39d95079bca0", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.06, "w": 0.78, "x": 0.11, "y": 0.77 }, "kind": "quote", "text": "“I am a former 21 year employee retiree and stock holder of SWA who completely agrees with your perspective of current senior management at SWA.” – Former Employee", "attrs": null, "subkind": "testimonial", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "acea4d9b-f18b-4935-a6aa-7e0fe2af33b9", "frameworkName": null, "frameworkSlug": null }, { "bbox": null, "kind": "quote", "text": "\"We have years of disdain from leadership, and that’s how labor has been treated... I mentioned the word disdain before and I’m going to say it again because that’s the only way that really we can describe how labor has been treated and SWAPA and our data-driven analysis has been treated.\" — SWAPA Leadership, The SWAPA Number Podcast (July 1); \"I’m a retired Southwest Captain and I couldn’t agree with you more on the next steps for Southwest... When I started at Southwest in 1997, it was ‘us against the world!’ Now it’s every man for himself as our famous culture is dying a slow, painful death.\" — Former Employee; \"Not only do I have a vested interest in the success of the company (my SWA stock has lost over half of its value) but I have spent 50% of my life flying and working for a company that was once the envy of every other airline operating in the world. Without any doubt I agree that a new leadership team is needed.\" — Current Employee; \"As a SWA employee of more than 23 years, I am in complete agreement with your analysis. I have been screaming this for 15 years.\" — Current Employee; \"I am a former 21 year employee retiree and stock holder of SWA who completely agrees with your perspective of current senior management at SWA. [Bob Jordan] has driven the airline into the ground. Thank you for taking a bold stance and insisting on making some changes.\" — Former Employee", "attrs": null, "subkind": null, "toolName": "Authority citation", "toolSlug": "authority-citation", "confidence": null, "componentId": "019dd953-0f1e-7015-9031-1f0f883ed5aa", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.03, "w": 0.78, "x": 0.11, "y": 0.11 }, "kind": "title", "text": "Other Constituents Have Also Expressed Deep Concerns with Southwest’s Leadership", "attrs": null, "subkind": "headline", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "3bf100f5-64ea-4f2d-a6b2-047003b3fc79", "frameworkName": null, "frameworkSlug": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [ { "to": 78, "from": 41, "beatId": "bceef478-edb2-43cb-a13c-e26922ffdd54", "arcName": "Problem-Agitate-Solution", "arcSlug": "problem-agitate-solution", "beatName": "Solution", "beatSlug": "problem-agitate-solution-solution-provide-relief", "evidence": "The document proposes a 'Stronger Southwest' plan with specific recommendations", "position": 2, "confidence": 0.8, "parentBeatName": "Resolution", "parentBeatSlug": "resolution" } ], "loops": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }