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  "docSlug": "1dca9cf84925",
  "documentTitle": "Union Pacific Corporation (UNP)",
  "authorId": "15_Soroban",
  "authorName": "Eric Mandelblatt",
  "documentKindSlug": "activist-deck",
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  "presentationDate": "2023-02-22 00:00:00",
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  "notes": "The slide uses a 'worst' framing to call out UNP's poor relative performance.",
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      "kind": "chart",
      "text": "Total Shareholder Return (incl. dividends) line chart",
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      "text": "Total Shareholder Return: 89%",
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      "kind": "source-note",
      "text": "Source: Bloomberg as of 2/22/2023. Note: KSU was acquired in 2021; as of its last trading date, KSU was ranked third and significantly above UNP in total shareholder return.",
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      "kind": "title",
      "text": "WORST total shareholder return of the Class I railroads",
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      "evidence": "Slides 17-22 emphasize the consequences of continued underperformance and failure to meet targets",
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