{
  "docId": "019dd923-622b-71dc-a6dc-5ae23aabda1f",
  "docSlug": "0de5d4c67f19",
  "documentTitle": "SandRidge Energy (SD)",
  "authorId": "16_TPG-Axon",
  "authorName": "Dinakar Singh",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "activist_investor",
  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2013-01-18 00:00:00",
  "orientation": "portrait",
  "aspectRatio": 0.77272725,
  "pageNumber": 3,
  "pageCount": 32,
  "prevPage": 2,
  "nextPage": 4,
  "slideType": "preempt_rebuttal",
  "function": "preempt_rebuttal",
  "density": "balanced",
  "nDataPoints": 0,
  "notes": "This slide uses a 'preempt_rebuttal' strategy by quoting the company's own accusations against the activist and then reframing the activist's position as a principled defense of shareholder value.",
  "elementsJson": [
    "headline_text",
    "bullet_list"
  ],
  "metadataConfidence": 0.95,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622b-71dc-a6dc-5ae23aabda1f/3",
  "deckHref": "/decks/019dd923-622b-71dc-a6dc-5ae23aabda1f",
  "deckJsonHref": "/decks/019dd923-622b-71dc-a6dc-5ae23aabda1f.json",
  "deckAnchorHref": "/decks/019dd923-622b-71dc-a6dc-5ae23aabda1f#slide-3",
  "components": [
    {
      "bbox": null,
      "kind": "callout",
      "text": "As a general business principle, we believe it is inappropriate and unethical for any management to compete with the shareholders they are paid to serve",
      "attrs": null,
      "subkind": null,
      "toolName": "Visual emphasis",
      "toolSlug": "visual-emphasis",
      "confidence": null,
      "componentId": "019dd952-e6ee-7118-8706-5d1518f538f2",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.7,
        "w": 0.85,
        "x": 0.07,
        "y": 0.15
      },
      "kind": "list",
      "text": "SandRidge claims TPG-Axon has \"engaged in a false and misleading campaign...\" \nMost of the observations we have made... are based on publicly available facts\nTherefore, presumably, management objects to allegations we have raised...\nAs a result, we are sharing with all shareholders some of the facts...\nWe believe the management and Board of Directors... should have one overriding objective...creating value for shareholders\nAs a general business principle, we believe it is inappropriate and unethical for any management to compete with the shareholders they are paid to serve\nIn the case of SandRidge, our examination of the facts regarding related party transactions... cause us enormous concern",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "41a0265c-b5af-4f0b-8a02-e73891d18437",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "quote",
      "text": "SandRidge claims TPG-Axon has \"engaged in a false and misleading campaign and \"consent solicitation\" filled with half-truths and unsubstantiated statements regarding management, the Board and the Company. TPG-Axon has repeatedly made inflammatory and false statements with one simple goal – they want to distract you from the facts regarding SandRidge and its strategy for creating value...\" — SandRidge Energy",
      "attrs": null,
      "subkind": null,
      "toolName": "Authority citation",
      "toolSlug": "authority-citation",
      "confidence": null,
      "componentId": "019dd952-e6ee-7118-8706-606224827e96",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.6,
        "x": 0.07,
        "y": 0.08
      },
      "kind": "title",
      "text": "SandRidge Related-Party Land Transactions",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "b6524f90-bdf5-4285-bd55-200d5e77736e",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [
    {
      "name": "preempt_rebuttal",
      "slug": null,
      "matchId": "e6c4e7d2-7570-466e-8ffe-4a8e982266a4",
      "evidence": "The slide explicitly quotes the opponent's narrative to immediately counter it with the activist's own framing.",
      "confidence": 0.9
    }
  ],
  "arcBeats": [
    {
      "to": 9,
      "from": 3,
      "beatId": "8d3c13e0-6f82-4a99-8d80-48f1f973a1ca",
      "arcName": "Overcoming the Monster",
      "arcSlug": "overcoming-monster",
      "beatName": "The Monster",
      "beatSlug": "overcoming-monster-the-monster",
      "evidence": "The presentation introduces the issue of SandRidge's related-party land transactions and highlights contradictions.",
      "position": 0,
      "confidence": 0.8,
      "parentBeatName": "Hook",
      "parentBeatSlug": "hook"
    }
  ],
  "loops": [
    {
      "to": 32,
      "from": 3,
      "name": "Cost Of Inaction",
      "slug": "27-cost-of-inaction",
      "bestFor": "Urgent budget requests, compliance, risk mitigation",
      "matchId": "3ab06310-b4ca-4c6a-a124-3e7e38a6c5f0",
      "evidence": "The presentation implies that inaction could lead to continued insider benefit at the expense of shareholders.",
      "position": 1,
      "objective": "What are the consequences of not addressing SandRidge's opaque transactions?",
      "structure": "The Status Quo -> The Hidden Costs Accumulating -> The Future State of Inaction -> The Tipping Point",
      "confidence": 0.6,
      "description": "Quantify what happens if the audience does nothing"
    }
  ],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}