{
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  "docSlug": "f524c9d23401",
  "documentTitle": "Taubman Centers, Inc. (TCO)",
  "authorId": "26_Land_and_Buildings",
  "authorName": "Jonathan Litt",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "activist_investor",
  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2018-05-10 00:00:00",
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  "pageNumber": 6,
  "pageCount": 13,
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  "slideType": "expose_contradiction",
  "function": "expose_contradiction",
  "density": "balanced",
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  "notes": "Uses a 'before-after' style visual of the company's own claims to set up a 'villain critique' or 'expose contradiction' argument.",
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  "slideHref": "/slides/019dd923-622b-71dc-a6dd-7a636b2802f0/6",
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      "kind": "callout",
      "text": "Taubman's presentation fails to answer a number of important questions:",
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      "kind": "image",
      "text": "Screenshot of Taubman's governance claims",
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      "kind": "list",
      "text": "List of 6 critical questions regarding board independence, dual-class shares, and shareholder support.",
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      "kind": "source-note",
      "text": "Source: Company filings, Land & Buildings' research and views, ISS, Glass Lewis and Egan Jones 2017 reports, Bloomberg article “SEC Official Slams Dual-Class Shares Used by Alphabet, Snap” dated February 15, 2018",
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      "kind": "title",
      "text": "Taubman's Stated Commitment to Strong Governance and Shareholder Responsiveness is Disingenuous",
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      "evidence": "Juxtaposes company's own claims against critical questions.",
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      "beatName": "Agitate (Make it worse)",
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      "evidence": "The deck agitates the problem by exposing contradictions in Taubman's statements and actions.",
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      "parentBeatName": "Development",
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      "evidence": "The deck uses an iceberg loop to show that there is more to Taubman's situation than meets the eye.",
      "position": 0,
      "objective": "To reveal the underlying issues with Taubman's capital allocation and performance",
      "structure": "The Symptom (Visible) -> The System (Hidden) -> The Root Cause",
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