{
  "docId": "019dd923-622b-71dc-a6dc-65fca51ac2ca",
  "docSlug": "92348fc1e371",
  "documentTitle": "Canadian National Railway (CNI)",
  "authorId": "20_TCI_Fund",
  "authorName": "Sir Christopher Hohn",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "activist_investor",
  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2021-08-31 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.4446666,
  "pageNumber": 17,
  "pageCount": 26,
  "prevPage": 16,
  "nextPage": 18,
  "slideType": "precedent_table",
  "function": "cite_precedent",
  "density": "balanced",
  "nDataPoints": 18,
  "notes": "The slide uses historical precedent to argue for the efficacy of specific management styles in the rail industry.",
  "elementsJson": [
    "headline_text",
    "callout_box",
    "comparison_table",
    "footnote"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622b-71dc-a6dc-65fca51ac2ca/17",
  "deckHref": "/decks/019dd923-622b-71dc-a6dc-65fca51ac2ca",
  "deckJsonHref": "/decks/019dd923-622b-71dc-a6dc-65fca51ac2ca.json",
  "deckAnchorHref": "/decks/019dd923-622b-71dc-a6dc-65fca51ac2ca#slide-17",
  "components": [
    {
      "bbox": {
        "h": 0.06,
        "w": 0.9,
        "x": 0.05,
        "y": 0.185
      },
      "kind": "callout",
      "text": "Strong operational management can quickly make a difference to performance",
      "attrs": null,
      "subkind": "primary",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "3f9a5cee-661a-4f67-b3d4-ae78111201bc",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "metric",
      "text": "EBIT: 142%",
      "attrs": null,
      "subkind": "primary",
      "toolName": "Quantification",
      "toolSlug": "quantification",
      "confidence": null,
      "componentId": "019dd953-1ac3-70f9-8569-71673d9925be",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.02,
        "w": 0.1,
        "x": 0.06,
        "y": 0.925
      },
      "kind": "source-note",
      "text": "Source: TCI analysis",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "b836e25a-ff89-4c54-8746-00f77582e115",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.27,
        "w": 0.43,
        "x": 0.06,
        "y": 0.418
      },
      "kind": "table",
      "text": "CP performance table showing EBIT, OR, and EPS changes from 2011 to 2014",
      "attrs": null,
      "subkind": "data",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "4bf2c7b6-3765-4f0c-bd08-f1d7150a3ce3",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.27,
        "w": 0.43,
        "x": 0.54,
        "y": 0.418
      },
      "kind": "table",
      "text": "CSX performance table showing EBIT, OR, and EPS changes from 2016 to 2019",
      "attrs": null,
      "subkind": "data",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "e42bd4e7-4b23-449c-8c62-ee24777ab8b6",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.35,
        "x": 0.06,
        "y": 0.05
      },
      "kind": "title",
      "text": "Canadian National",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "462c6def-0d18-43d5-96b6-a93643d63a52",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [
    {
      "name": "precedent_table",
      "slug": null,
      "matchId": "3fc24cd8-3f7b-475d-b22b-f8e6498e5df4",
      "evidence": "Uses historical performance data of other companies to justify a thesis.",
      "confidence": 1
    }
  ],
  "arcBeats": [
    {
      "to": 21,
      "from": 17,
      "beatId": "c5369cd2-8f3f-4a62-8485-ff53ede8f5b6",
      "arcName": "Problem-Agitate-Solution",
      "arcSlug": "problem-agitate-solution",
      "beatName": "Solution",
      "beatSlug": "problem-agitate-solution-solution-provide-relief",
      "evidence": "The document implies the need for new leadership to turn around the company.",
      "position": 2,
      "confidence": 0.8,
      "parentBeatName": "Resolution",
      "parentBeatSlug": "resolution"
    }
  ],
  "loops": [
    {
      "to": 19,
      "from": 17,
      "name": "Tale Two Worlds",
      "slug": "04-tale-two-worlds",
      "bestFor": "Competitive analysis, benchmarking, case for change",
      "matchId": "7722cf4d-cd04-495c-aecc-8c7c9bfca5ac",
      "evidence": "The document presents a comparison between CN and Union Pacific under Jim Vena's leadership.",
      "position": 0,
      "objective": "To show that strong operational management can quickly make a difference to performance",
      "structure": "Current State -> Desired State / Benchmark -> The Gap & Implication",
      "confidence": 0.7,
      "description": "Show the gap between two states to drive urgency or highlight opportunity"
    }
  ],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}