{
  "docId": "019dd923-622c-750b-8b98-694e98f1b555",
  "docSlug": "e144e98ebdb8",
  "documentTitle": "U.S. Concrete Inc (USCR)",
  "authorId": "54_Spruce_Point_Capital",
  "authorName": "Ben Axler",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2018-05-17 00:00:00",
  "orientation": "landscape",
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  "pageNumber": 10,
  "pageCount": 48,
  "prevPage": 9,
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  "slideType": "preempt_rebuttal",
  "function": "diagnose_problem",
  "density": "balanced",
  "nDataPoints": 48,
  "notes": "Uses a red box and arrow to visually anchor the comparison between the 2007 baseline and the 2018 current state.",
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  "components": [
    {
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      "kind": "callout",
      "text": "Investors should be concerned that USCR’s liquidity is rapidly deteriorating and worse today than pre-financial crisis which sent USCR into bankruptcy",
      "attrs": null,
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    {
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      "kind": "metric",
      "text": "Liquidity as a % of LTM Revenues: 12.8%",
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      "kind": "paragraph",
      "text": "Investors should be concerned that USCR’s liquidity is rapidly deteriorating and worse today than pre-financial crisis which sent USCR into bankruptcy",
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      "kind": "source-note",
      "text": "Source: USCR SEC filings. 1) Excludes $211.5m of cash raised in Q1'17 through a debt offering used to fund the Polaris acquisition",
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      "kind": "title",
      "text": "Warning: Liquidity Drain",
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      "evidence": "Direct comparison of historical financial metrics to current state to highlight deterioration.",
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      "evidence": "The document presents a clear problem and sets up the rest of the argument",
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