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  "documentTitle": "iRobot Corp (IRBT)",
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  "authorName": "Spruce Point Management",
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  "presentationDate": "2014-05-20 00:00:00",
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  "notes": "The slide uses a 'villain' framing by identifying the macro environment in China as a threat to the company's (IRBT) growth thesis.",
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      "text": "Whirlpool Asia reported first-quarter net sales of $166 million compared to $187 million in the same prior-year period. Excluding the impact of currency, sales decreased approximately 4 percent.",
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      "text": "Deteriorating Macro Situation In China > Negative For Housing > Negative For Housing/Consumer Appliances",
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      "text": "Electrolux (Sweden) – Declining Operating Profit in Asia",
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      "text": "China released April 2013 property market data and the latest results showed concern. Looking at the data, measured on a YTD basis, we find: (1) New residential housing starts (in terms of floor-space) fell -24.5% YoY...",
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      "text": "Whirlpool Asia reported first-quarter net sales of $166 million compared to $187 million in the same prior-year period. Excluding the impact of currency, sales decreased approximately 4 percent. — Whirlpool",
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      "text": "Source: http://www.bloomberg.com/news/2014-05-18/china-home-price-growth-slows-in-more-cities-even-as-curbs-ease.html",
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