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  "documentTitle": "Stryker Corp. (SYK)",
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  "authorName": "Ben Axler",
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  "presentationDate": "2022-04-06 00:00:00",
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  "notes": "Uses tax records as a forensic accounting indicator of business health.",
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      "kind": "callout",
      "text": "Spruce Point has analyzed tangible business property records at key locations for Mako Surgical... We find evidence that around 2018 taxes peaked and have been in decline since.",
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      "text": "We find evidence that around 2018 taxes peaked and have been in decline since. This could be the result of lower capital investment into the business, and depreciation of existing assets.",
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      "text": "tangible property tax",
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      "kind": "paragraph",
      "text": "1) \"Stryker opens robotic surgery education center in Fort Lauderdale,\" South Florida Business Journal, July 16, 2018\n2) Mako's facility certification\n3) Broward County Tangible Personal Property Tax Note...",
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      "text": "Source: Broward County Taxes, Mako Surgical Corp / Stryker Orthopaedic",
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      "text": "Tangible Property Tax: 505 NW 65 CT (Mako Education)",
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      "text": "Tangible Property Tax: 2555 Davie Road (Mako Manufacturing)",
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      "kind": "title",
      "text": "Another Indicator of Declining Business Activity At Mako Surgical",
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