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  "documentTitle": "Time Warner Inc. (TWX)",
  "authorId": "14_Icahn",
  "authorName": "Lazard",
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  "presentationDate": "2006-02-01 00:00:00",
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  "notes": "This slide serves as a historical narrative context for the activist case against AOL Time Warner.",
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      "text": "These disruptions detracted attention from AOL’s business when it needed it the most. When combined with AOL’s declining fortunes, the management changes have helped to cause a costly talent drain and to produce a culture that appears to be highly political with low morale.",
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      "text": "22 LAZARD",
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      "text": "CHAPTER 2A: AOL",
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      "text": "Since the AOL Time Warner merger, AOL has experienced a series of changes in management that have been disruptive to the business. In the first two years following the Merger, the executive leadership at the unit changed hands four times...",
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