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  "docSlug": "2d65bb084b06",
  "documentTitle": "China MediaExpress Holdings (CCME)",
  "authorId": "51_Muddy_Waters",
  "authorName": "Carson C. Block",
  "documentKindSlug": "research-note",
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  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2011-03-02 00:00:00",
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  "notes": "The slide uses a structured 'Allegation vs. Fact' format to systematically refute claims.",
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      "kind": "callout",
      "text": "ALLEGATION: Fewer than half of the buses in CCME’s network actually show CCME content.",
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      "text": "ALLEGATION: CTR research reports are inaccurate and manipulated by CCME’s management. FACT: CTR is an independent and very reputable research provider. Through the questionnaire, CTR is able to quantify the number of contracted vehicles.",
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      "text": "ALLEGATION: Fewer than half of the buses in CCME’s network actually show CCME content. FACT: This claim relies entirely on anecdotal evidence. Under our contracts, bus operators are not allowed to remove our players and display content not provided by our company.",
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      "text": "ALLEGATION: CCME’s relationship with its largest bus operator does not exist and CCME has misstated the number of buses it contracts. FACT: The largest operator in CTR’s 2008 report, Shanghai Bus Industrial Group Co., Ltd., contracted with us in 2008 (and now) for 1,892 buses.",
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      "kind": "quote",
      "text": "FACT: This claim relies entirely on anecdotal evidence. Under our contracts, bus operators are not allowed to remove our players and display content not provided by our company. — CCME Management",
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