{
  "docId": "019dd923-622c-750b-8b98-eaae8b08698d",
  "docSlug": "c665ec3b53b5",
  "documentTitle": "Amcor plc (pro forma Amcor-Berry Global combination) (AMCR)",
  "authorId": "54_Spruce_Point_Capital",
  "authorName": "Ben Axler",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2020-03-10 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.3333334,
  "pageNumber": 49,
  "pageCount": 95,
  "prevPage": 48,
  "nextPage": 50,
  "slideType": "preempt_rebuttal",
  "function": "expose_contradiction",
  "density": "overcrowded",
  "nDataPoints": 6,
  "notes": "The slide uses a 'foreshadowing' narrative technique to link early accounting warning signs (overdrafts) to later stock collapse.",
  "elementsJson": [
    "headline_text",
    "paragraph",
    "line_chart",
    "screenshot",
    "callout_box",
    "footnote"
  ],
  "metadataConfidence": 0.95,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622c-750b-8b98-eaae8b08698d/49",
  "deckHref": "/decks/019dd923-622c-750b-8b98-eaae8b08698d",
  "deckJsonHref": "/decks/019dd923-622c-750b-8b98-eaae8b08698d.json",
  "deckAnchorHref": "/decks/019dd923-622c-750b-8b98-eaae8b08698d#slide-49",
  "components": [
    {
      "bbox": {
        "h": 0.03,
        "w": 0.1,
        "x": 0.72,
        "y": 0.67
      },
      "kind": "callout",
      "text": "COO departs",
      "attrs": null,
      "subkind": "primary",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "49acdb22-a6d0-4b66-8dbe-a5da80cea697",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.15,
        "x": 0.67,
        "y": 0.6
      },
      "kind": "callout",
      "text": "$383 million Asset Impairment",
      "attrs": null,
      "subkind": "primary",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "644f32f0-ebc0-42a1-b2ff-0ec4dd8b6cf2",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.03,
        "w": 0.12,
        "x": 0.72,
        "y": 0.44
      },
      "kind": "callout",
      "text": "Spruce Point Warns",
      "attrs": null,
      "subkind": "primary",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "e74d4e4c-0b0e-4b72-85c5-5258b8222c70",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.04,
        "w": 0.15,
        "x": 0.21,
        "y": 0.55
      },
      "kind": "callout",
      "text": "Overdrafts Begin",
      "attrs": null,
      "subkind": "primary",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "fbaaaf50-5bd9-4a33-a6f3-3ce14103aebb",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "callout",
      "text": "Recall that Spruce Point called out Maxar Technologies and its use of bank overdrafts which started in 2015. This foreshadowed subsequent challenges in its satellite business, eventual collapse and write-down of assets.",
      "attrs": null,
      "subkind": null,
      "toolName": "Visual emphasis",
      "toolSlug": "visual-emphasis",
      "confidence": null,
      "componentId": "019dd953-2b65-734e-a982-fe8548df9664",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.6,
        "w": 0.75,
        "x": 0.15,
        "y": 0.28
      },
      "kind": "chart",
      "text": "Maxar Technologies Stock Performance",
      "attrs": null,
      "subkind": "line",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "003f81ab-cc0a-48fe-a737-3c07ddf75f84",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.06,
        "w": 0.9,
        "x": 0.05,
        "y": 0.18
      },
      "kind": "paragraph",
      "text": "Recall that Spruce Point called out Maxar Technologies and its use of bank overdrafts which started in 2015. This foreshadowed subsequent challenges in its satellite business, eventual collapse and write-down of assets.",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "62bc970d-79de-4be8-9a3f-cb3438bfe78b",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.02,
        "w": 0.2,
        "x": 0.18,
        "y": 0.93
      },
      "kind": "source-note",
      "text": "Source: Maxar 2017 Annual Report",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "0bfc536e-e0b2-4103-96b3-39e9b6de35a1",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.2,
        "w": 0.35,
        "x": 0.08,
        "y": 0.58
      },
      "kind": "table",
      "text": "Cash and cash equivalents on the consolidated statements of cash flows are comprised of the following: Cash and cash equivalents $19.1 / $14.1; Bank overdraft - / (17.9)",
      "attrs": null,
      "subkind": "data",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "131eb71c-4b85-444f-85e9-a61227d55b86",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.08,
        "w": 0.65,
        "x": 0.3,
        "y": 0.02
      },
      "kind": "title",
      "text": "Case Study II: Maxar Technologies And Bank Overdraft Warning Signs",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "b9c6c917-16dc-48e7-8b6c-e1550ad1ea2d",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [
    {
      "name": "foreshadowing",
      "slug": null,
      "matchId": "984c6b30-32e2-4d05-903f-2fd6963d8ed0",
      "evidence": "The slide explicitly states that early events 'foreshadowed' later collapse.",
      "confidence": 0.9
    }
  ],
  "arcBeats": [],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}