{
  "docId": "019dd923-622c-750b-8b98-ce8e8f2b4a97",
  "docSlug": "c5a10320e53e",
  "documentTitle": "Cintas Corp. (CTAS)",
  "authorId": "54_Spruce_Point_Capital",
  "authorName": "Ben Axler",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2019-11-13 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.3333334,
  "pageNumber": 15,
  "pageCount": 73,
  "prevPage": 14,
  "nextPage": 16,
  "slideType": "key_messages",
  "function": "diagnose_problem",
  "density": "sparse",
  "nDataPoints": 6,
  "notes": "Uses red arrows as visual anchors for each of the four points.",
  "elementsJson": [
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    "callout_box",
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  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622c-750b-8b98-ce8e8f2b4a97/15",
  "deckHref": "/decks/019dd923-622c-750b-8b98-ce8e8f2b4a97",
  "deckJsonHref": "/decks/019dd923-622c-750b-8b98-ce8e8f2b4a97.json",
  "deckAnchorHref": "/decks/019dd923-622c-750b-8b98-ce8e8f2b4a97#slide-15",
  "components": [
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        "x": 0.03,
        "y": 0.00175
      },
      "kind": "callout",
      "text": "Through our conversations with fire inspection industry professionals, we believe there are four very large challenges facing Cintas that will impede its growth and profit potential in the industry.",
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      "bbox": {
        "h": 0.6,
        "w": 0.85,
        "x": 0.1,
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      },
      "kind": "list",
      "text": "Not Enough Skilled Labor To Deliver Services In Compliance With The Law\nPrivate Equity And New Money Is Flooding Into The Industry To Disrupt Cintas\nContract Lengths Are Shortening\nMargins Are Coming Under Pressure From Greater Competition",
      "attrs": null,
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      "kind": "title",
      "text": "But Results Are Not Sustainable: Four Negative Trends In Fire Inspection",
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  "metrics": [],
  "tools": [],
  "frameworks": [
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      "name": "fraud-exposure",
      "slug": null,
      "matchId": "33e68085-89e3-4f2d-8e95-30ca50e46694",
      "evidence": "Explicit mention of evidence that Cintas committed fraud by allowing unlicensed workers to falsify inspection reports.",
      "confidence": 0.9
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  "arcBeats": [
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      "to": 20,
      "from": 6,
      "beatId": "b73990d4-fb73-4140-9aad-c369561e3c5d",
      "arcName": "Overcoming the Monster",
      "arcSlug": "overcoming-monster",
      "beatName": "The Monster",
      "beatSlug": "overcoming-monster-the-monster",
      "evidence": "The deck presents extensive evidence of Cintas' bad business practices.",
      "position": 1,
      "confidence": 0.8,
      "parentBeatName": "Hook",
      "parentBeatSlug": "hook"
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  ],
  "loops": [
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      "from": 10,
      "name": "Aha Moment",
      "slug": "03-aha-moment",
      "bestFor": "Data-heavy sections, research findings, analytical arguments",
      "matchId": "fa0f9ced-7dd5-4147-90e6-e9cfb37cf6eb",
      "evidence": "The deck presents evidence of Cintas' potential law violations in its fire protection business.",
      "position": 0,
      "objective": "Does Cintas' fire protection business put lives at risk?",
      "structure": "The Problem/Question -> What the Data Shows -> The Insight",
      "confidence": 0.8,
      "description": "Establish a tension, present data, then deliver the insight that changes everything"
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