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  "documentTitle": "Cintas Corp. (CTAS)",
  "authorId": "54_Spruce_Point_Capital",
  "authorName": "Ben Axler",
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  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2019-11-13 00:00:00",
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  "notes": "Uses red underlining and a red arrow to visually connect the two directors through the Touchstone Investments entity.",
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      "kind": "callout",
      "text": "Could this impair her judgement to act independently?",
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      "kind": "paragraph",
      "text": "In light of our belief Cintas is experiencing operational and financial stress, we find it interesting that former Treasurer Karen Carnahan just joined the Board, and notably the Audit Committee. She is claimed to be an \"independent director\", and while technically having been removed from Cintas for three years this may be true, we are concerned that she has been affiliated with Cintas for 30 years. Furthermore, Ms. Carnahan was just appointed on May 15, 2019 as a Trustee of Touchstone Investments (a member of Western & Southern Financial). Cintas other audit director John F. Barrett is the CEO of Western & Southern. Touchstone Trustees typically earn $128k - $152k per year.(1)",
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      "text": "1) Touchstone Form N-1A Source: Company Press Release and proxy statement",
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      "text": "Karen L. Carnahan (2)(4) 65 ... John F. Barrett (2)(4) 70 ...",
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      "kind": "title",
      "text": "Audit Committee Expanded With Questionably \"Independent\" Former Treasurer",
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