{ "docId": "019dd923-622b-71dc-a6dd-92669c79ad79", "docSlug": "84ac077d7eaf", "documentTitle": "Taubman Centers, Inc. (TCO)", "authorId": "26_Land_and_Buildings", "authorName": "Land and Buildings", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "activist_investor", "sourceTypeLabel": "Activist investor", "presentationDate": "2017-11-13 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 5, "pageCount": 30, "prevPage": 4, "nextPage": 6, "slideType": "expose_contradiction", "function": "expose_contradiction", "density": "overcrowded", "nDataPoints": 4, "notes": "Uses the 'ceo-quote-contradiction' pattern to highlight the gap between management sentiment and market valuation.", "elementsJson": [ "headline_text", "quote_block", "callout_box" ], "metadataConfidence": 1, "imagePath": null, "slideHref": "/slides/019dd923-622b-71dc-a6dd-92669c79ad79/5", "deckHref": "/decks/019dd923-622b-71dc-a6dd-92669c79ad79", "deckJsonHref": "/decks/019dd923-622b-71dc-a6dd-92669c79ad79.json", "deckAnchorHref": "/decks/019dd923-622b-71dc-a6dd-92669c79ad79#slide-5", "components": [ { "bbox": { "h": 0.08, "w": 0.9, "x": 0.05, "y": 0.8 }, "kind": "callout", "text": "Despite the strong outlook, Class A Mall stocks declined 11% year-to-date", "attrs": null, "subkind": "primary", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "f3de2979-d8a0-4f6b-99b9-3e120ab9664c", "frameworkName": null, "frameworkSlug": null }, { "bbox": null, "kind": "metric", "text": "stock performance: -11%", "attrs": null, "subkind": "primary", "toolName": "Quantification", "toolSlug": "quantification", "confidence": null, "componentId": "019dd953-14da-72ce-9fab-195e15178560", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.1, "w": 0.9, "x": 0.05, "y": 0.3 }, "kind": "quote", "text": "If I look at the A-rated centers, which make up nearly 80% of our sales volume, sales were up 1.6%...excluding apparel, sales in the A centers were up 4.4%", "attrs": null, "subkind": "pull-quote", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "0ce64748-0932-4c8c-acde-8bda618f2dfa", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.1, "w": 0.9, "x": 0.05, "y": 0.45 }, "kind": "quote", "text": "Digital commerce is our friend, it is a breeding ground for new businesses and these will be the businesses that will fuel the excitement in our portfolio going forward", "attrs": null, "subkind": "pull-quote", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "66037e48-f6d0-47d1-9501-5a1ec07510fe", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.1, "w": 0.9, "x": 0.05, "y": 0.15 }, "kind": "quote", "text": "There's good demand as you heard....We are planning to be 96% occupied by the end of this year...we're actually 73% complete with our 2018 leasing", "attrs": null, "subkind": "pull-quote", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "bbd6cbf8-ed33-4c0b-993b-7e7595de57df", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.1, "w": 0.9, "x": 0.05, "y": 0.6 }, "kind": "quote", "text": "There is a lot of that new business out there that is exciting for us because we are bringing in the up and coming retailers or food operators that know how to connect directly through the consumer", "attrs": null, "subkind": "pull-quote", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "d6d305e9-2ed6-41bb-b843-c5104de61576", "frameworkName": null, "frameworkSlug": null }, { "bbox": null, "kind": "quote", "text": "\"There's good demand as you heard....We are planning to be 96% occupied by the end of this year...we're actually 73% complete with our 2018 leasing\" — Bobby Taubman, Chairman & CEO of Taubman Centers; \"If I look at the A-rated centers, which make up nearly 80% of our sales volume, sales were up 1.6%...excluding apparel, sales in the A centers were up 4.4%\" — Sandeep Mathrani, CEO of GGP; \"Digital commerce is our friend, it is a breeding ground for new businesses and these will be the businesses that will fuel the excitement in our portfolio going forward\" — Arthur Coppola, Chairman & CEO of Macerich; \"There is a lot of that new business out there that is exciting for us because we are bringing in the up and coming retailers or food operators that know how to connect directly through the consumer\" — David Simon, Chairman & CEO of Simon Property Group", "attrs": null, "subkind": null, "toolName": "Authority citation", "toolSlug": "authority-citation", "confidence": null, "componentId": "019dd953-14da-72ce-9fab-149d292e85a1", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.02, "w": 0.1, "x": 0.05, "y": 0.92 }, "kind": "source-note", "text": "Source: Bloomberg", "attrs": null, "subkind": null, "toolName": null, "toolSlug": null, "confidence": null, "componentId": "2d435a14-877a-4756-a800-6030be2a8630", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.05, "w": 0.5, "x": 0.05, "y": 0.05 }, "kind": "title", "text": "Third Quarter 2017 Earnings Calls Are Upbeat", "attrs": null, "subkind": "headline", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "aaf03ab1-94b6-4a91-950f-8a59f3e1c84f", "frameworkName": null, "frameworkSlug": null } ], "metrics": [], "tools": [], "frameworks": [ { "name": "ceo-quote-contradiction", "slug": null, "matchId": "dab476cd-6725-4f84-9538-3112ab7f46db", "evidence": "Contrasting positive management commentary with negative stock performance", "confidence": 1 } ], "arcBeats": [ { "to": 5, "from": 2, "beatId": "3fa515bb-a064-4d91-9e50-9e7c1471158f", "arcName": "Problem-Agitate-Solution", "arcSlug": "problem-agitate-solution", "beatName": "Expose Contradiction", "beatSlug": null, "evidence": "Slides 2-5 expose contradictions in the market's perception of Class A Malls.", "position": 0, "confidence": 0.8, "parentBeatName": null, "parentBeatSlug": null } ], "loops": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }