{
  "docId": "019dd923-622c-750b-8b9b-38d8804ef6d4",
  "docSlug": "7d738951d1e5",
  "documentTitle": "General Growth Properties (GGWPQ)",
  "authorId": "01_Pershing_Square",
  "authorName": "Pershing Square",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "activist_investor",
  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2009-05-27 00:00:00",
  "orientation": "portrait",
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  "pageNumber": 22,
  "pageCount": 68,
  "prevPage": 21,
  "nextPage": 23,
  "slideType": "kpi_overview",
  "function": "analyze_data",
  "density": "balanced",
  "nDataPoints": 27,
  "notes": "The slide highlights the deceleration in growth rates by Q1'09.",
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  "slideHref": "/slides/019dd923-622c-750b-8b9b-38d8804ef6d4/22",
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  "deckAnchorHref": "/decks/019dd923-622c-750b-8b9b-38d8804ef6d4#slide-22",
  "components": [
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      "kind": "callout",
      "text": "As of Q1'09, GGP's trailing twelve month cash NOI grew 1.4% on a year over year basis. Adjusting for lease termination income, cash NOI grew 2.4%",
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      "kind": "chart",
      "text": "TTM Cash NOI ($ in millions)",
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      "kind": "disclaimer",
      "text": "Note: NOI figures exclude management fee income and NOI associated with the MPC segment. Cash NOI adjusts for non-cash items such as straight-line rent, lease mark to market adjustments (FAS 141), non-cash ground rent expense and real estate tax stabilization.",
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      "kind": "metric",
      "text": "Cash NOI Growth (YoY): 1.4%",
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      "kind": "table",
      "text": "Cash NOI Growth (YoY) and Adj. Cash NOI Growth (YoY) table",
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      "kind": "title",
      "text": "Trailing Twelve Month Cash NOI",
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      "arcName": "Problem-Agitate-Solution",
      "arcSlug": "problem-agitate-solution",
      "beatName": "Agitate (Make it worse)",
      "beatSlug": "problem-agitate-solution-agitate-make-it-worse",
      "evidence": "The presentation agitates the problem by highlighting the potential consequences of not reorganizing, such as the loss of value for secured creditors.",
      "position": 1,
      "confidence": 0.9,
      "parentBeatName": "Development",
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  "loops": [
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      "name": "Cost Of Inaction",
      "slug": "27-cost-of-inaction",
      "bestFor": "Urgent budget requests, compliance, risk mitigation",
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      "evidence": "The presentation highlights the potential consequences of not reorganizing, such as the loss of value for secured creditors.",
      "position": 0,
      "objective": "What is the cost of inaction for GGP's secured creditors?",
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