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  "documentTitle": "Hill-Rom Holdings, Inc. (HRC)",
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  "authorName": "Ben Axler",
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  "sourceTypeLabel": "Short seller",
  "presentationDate": "2019-10-29 00:00:00",
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  "notes": "Uses red arrows to visually connect the DIO chart to a warning callout box.",
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      "kind": "callout",
      "text": "Warning: CFO Associated With Companies Demonstrating Similar Inventory Issues. Recently-departed CFO Steve Strobel is also Chairman of the Audit Committee of Newell Brands (NWL), and has been on its Board since 2006. Similar inventory channel accumulation at Newell through the mid-2010s would lead to significant difficulties which culminated in an 80% drop in NWL shares.",
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      "text": "Spruce Point observes that Hill-Rom's Days Sales Outstanding (DSO) and Days Inventory Outstanding (DIO) are both as high as they have ever been following the Welch Allyn acquisition in late FY15 / early FY16.",
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