{
  "docId": "019dd923-622c-750b-8b99-3dd81deb19cb",
  "docSlug": "0cee9cc55960",
  "documentTitle": "Generac Holdings, Inc. (GNRC)",
  "authorId": "54_Spruce_Point_Capital",
  "authorName": "Ben Axler",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2022-06-22 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.3333334,
  "pageNumber": 15,
  "pageCount": 145,
  "prevPage": 14,
  "nextPage": 16,
  "slideType": "expose_contradiction",
  "function": "expose_contradiction",
  "density": "overcrowded",
  "nDataPoints": 0,
  "notes": "Uses a 'call-out' box to frame the contradiction between corporate claims and forensic findings.",
  "elementsJson": [
    "headline_text",
    "callout_box",
    "screenshot",
    "headshot",
    "paragraph",
    "bullet_list"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622c-750b-8b99-3dd81deb19cb/15",
  "deckHref": "/decks/019dd923-622c-750b-8b99-3dd81deb19cb",
  "deckJsonHref": "/decks/019dd923-622c-750b-8b99-3dd81deb19cb.json",
  "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-3dd81deb19cb#slide-15",
  "components": [
    {
      "bbox": {
        "h": 0.08,
        "w": 0.9,
        "x": 0.05,
        "y": 0.16
      },
      "kind": "callout",
      "text": "If Generac is as committed to ESG and transparency as it claims, it will issue a public response to Spruce Point’s questions arising from our independent forensic investigation.",
      "attrs": null,
      "subkind": "primary",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "99d81c20-a3dc-48d5-b8eb-a389b8d66d94",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "callout",
      "text": "If Generac is committed to ESG and transparency as it claims, it will issue a public response to Spruce Point’s questions arising from our independent forensic investigation.",
      "attrs": null,
      "subkind": null,
      "toolName": "Visual emphasis",
      "toolSlug": "visual-emphasis",
      "confidence": null,
      "componentId": "019dd952-e6ed-775b-bcbe-11f6349dbff8",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.2,
        "w": 0.3,
        "x": 0.05,
        "y": 0.45
      },
      "kind": "image",
      "text": "Aaron P. Jagdfeld",
      "attrs": null,
      "subkind": "headshot",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "0a837317-0929-48c0-95e4-0430bc237fc1",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.08,
        "w": 0.4,
        "x": 0.55,
        "y": 0.7
      },
      "kind": "list",
      "text": "Who Is The Undisclosed “50% Indirect Interest” in Pramac Racing That Paid Sponsorship Fees. Is it Linked To Luigi Scavone of Alma Group Who Sponsored Pramac And Who Was Arrested For Tax Evasion?",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "0a4093a8-0cdd-459d-8c3a-6a48178d9c5e",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.06,
        "w": 0.4,
        "x": 0.55,
        "y": 0.52
      },
      "kind": "list",
      "text": "Why Has Generac Resisted Measures To Protect Consumers From Dangerous Carbon Monoxide Poisoning Risk Associated With Operating Its Generators?",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "62bec8d3-187d-4021-acd6-0a3c9e7f0f6a",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.08,
        "w": 0.4,
        "x": 0.55,
        "y": 0.25
      },
      "kind": "list",
      "text": "Why Is Generac Spending Hundreds of Millions In Acquiring Mature, Problematic And / Or Failed “Clean Energy” Businesses Only To Recently Call Them “Start-ups”?",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "bdc640e2-67f3-4acd-a232-3e463f791568",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.06,
        "w": 0.4,
        "x": 0.55,
        "y": 0.88
      },
      "kind": "list",
      "text": "Why Has Generac Not Been Transparent About An Investment In A Sunnova Tax Entity. Is Generac Roundtripping Cash Flows?",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "d6476c72-e812-432c-b985-adfffd181f6f",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.08,
        "w": 0.4,
        "x": 0.55,
        "y": 0.6
      },
      "kind": "list",
      "text": "Why Did Generac Record a “Financing” Cash Flow For Its Increased Minority Investment In Pramac (Italy) At An Irrationally Low Multiple? Why Are Pramac Subsidiaries Stuffed With High Receivables?",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "dd8cc8c5-4485-4d61-9109-6fe630ea554e",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.08,
        "w": 0.4,
        "x": 0.55,
        "y": 0.35
      },
      "kind": "list",
      "text": "Why Does Generac Promote Powerhome (Now Pink Energy) As A Distributor And Installer Of Its Products While Multiple Independent Investigations Have Alleged They Mislead Customers?",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "f1ac4008-b8c8-4cff-9890-4eb7e1ef472b",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.4,
        "x": 0.55,
        "y": 0.45
      },
      "kind": "list",
      "text": "Will Generac Compensate The Consumers Who Had Their Fingers Amputated From Using Its Portable Generators?",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "f2c73651-5e63-4c6a-a929-d2dcf49a6b96",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.06,
        "w": 0.4,
        "x": 0.55,
        "y": 0.8
      },
      "kind": "list",
      "text": "Will Generac Disclose How Much Market Share It Has Lost In Portable Generators And Exactly How Much In Annual Sales Are Tied To The Category?",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "f81fdb4e-9373-465c-9188-b0ab3813b8f5",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.15,
        "w": 0.45,
        "x": 0.05,
        "y": 0.26
      },
      "kind": "paragraph",
      "text": "Importantly, we've also continued our commitment to building out an effective ESG Program...",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "70a5f9b7-73a8-4473-b082-56d720e96a4b",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.03,
        "w": 0.2,
        "x": 0.05,
        "y": 0.95
      },
      "kind": "source-note",
      "text": "Source: Generac ESG Report",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "beff395e-7508-48a9-b140-e45da47390c7",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.1,
        "w": 0.9,
        "x": 0.05,
        "y": 0.02
      },
      "kind": "title",
      "text": "If Generac Is Truly Committed To Transparency And ESG, It Should Answer The Following Questions",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "70ca5df8-cbb7-42ee-a505-4e6c53caaa21",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [
    {
      "name": "ceo-quote-contradiction",
      "slug": null,
      "matchId": "c90af6ed-94fd-4e7c-b9c6-86f767bdee98",
      "evidence": "Contrasts CEO's stated commitment to transparency with forensic questions.",
      "confidence": 0.9
    }
  ],
  "arcBeats": [
    {
      "to": 50,
      "from": 14,
      "beatId": "6efea6c0-5238-48d2-864d-0ad94f8d4ead",
      "arcName": "Overcoming the Monster",
      "arcSlug": "overcoming-monster",
      "beatName": "Expose Contradiction",
      "beatSlug": null,
      "evidence": "Multiple contradictions in Generac's financials and operations",
      "position": 2,
      "confidence": 0.8,
      "parentBeatName": null,
      "parentBeatSlug": null
    }
  ],
  "loops": [
    {
      "to": 20,
      "from": 10,
      "name": "Pattern Hunter",
      "slug": "02-pattern-hunter",
      "bestFor": "Time-pressed audiences, building consensus, when data is strong",
      "matchId": "55a0dd58-d916-4cc6-b30f-b960dbf17dfb",
      "evidence": "Multiple examples of financial stress and contradictions",
      "position": 0,
      "objective": "Identify patterns of financial stress",
      "structure": "Evidence A -> Evidence B -> Evidence C -> Pattern/Conclusion",
      "confidence": 0.7,
      "description": "Group multiple pieces of evidence that together point to a pattern or conclusion"
    }
  ],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}