{
  "docId": "019dd923-622c-750b-8b9b-4832cdb3e662",
  "docSlug": "600406034f02",
  "documentTitle": "Mall REIT sector (long General Growth Properties) (GGP)",
  "authorId": "01_Pershing_Square",
  "authorName": "Pershing Square Capital Management",
  "documentKindSlug": "conference-presentation",
  "documentKindLabel": "Conference presentation",
  "sourceTypeSlug": "activist_investor",
  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2009-12-07 00:00:00",
  "orientation": "portrait",
  "aspectRatio": 0.77272725,
  "pageNumber": 52,
  "pageCount": 68,
  "prevPage": 51,
  "nextPage": 53,
  "slideType": "appendix_methodology",
  "function": "present_framework",
  "density": "dense",
  "nDataPoints": 0,
  "notes": null,
  "elementsJson": [
    "headline_text",
    "bullet_list",
    "callout_box"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622c-750b-8b9b-4832cdb3e662/52",
  "deckHref": "/decks/019dd923-622c-750b-8b9b-4832cdb3e662",
  "deckJsonHref": "/decks/019dd923-622c-750b-8b9b-4832cdb3e662.json",
  "deckAnchorHref": "/decks/019dd923-622c-750b-8b9b-4832cdb3e662#slide-52",
  "components": [
    {
      "bbox": {
        "h": 0.05,
        "w": 0.74,
        "x": 0.13,
        "y": 0.23
      },
      "kind": "callout",
      "text": "Using public information we analyzed:",
      "attrs": null,
      "subkind": "primary",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "9e59c4ac-a222-4c2e-a9ed-905cf110fae0",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.74,
        "x": 0.13,
        "y": 0.56
      },
      "kind": "callout",
      "text": "Source of data for our analysis:",
      "attrs": null,
      "subkind": "primary",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "bfbe0827-ca09-4fcf-882c-18a0d8fd446c",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.2,
        "w": 0.6,
        "x": 0.15,
        "y": 0.3
      },
      "kind": "list",
      "text": "Store expansion plans for 2010 and beyond\nNew concepts either currently being rolled out or upcoming\nRevenue forecasts\nProfit forecasts",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "2056df5b-6bc8-4910-8526-65aee274fde6",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.2,
        "w": 0.75,
        "x": 0.15,
        "y": 0.63
      },
      "kind": "list",
      "text": "Evaluated tenant websites, public filings, earnings transcripts, investor presentations and press releases; mall REIT earnings transcripts; industry trade publications and news articles to develop a sense of tenant expansions and new concepts on tap for 2010 and beyond\nGathered consensus equity research estimates for tenant revenue and EBITDA projections through 2010 and 2011",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "37440fd9-6bbd-4fb5-8d41-12cf0247d1af",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.08,
        "w": 0.8,
        "x": 0.08,
        "y": 0.1
      },
      "kind": "title",
      "text": "We Performed a Bottoms Up Analysis to Inform Our Outlook for Mall REITs",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "d6191d13-26a2-4444-bb27-25c9ea0392a8",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [
    {
      "name": "Analytical method",
      "slug": "analytical-method",
      "agent": null,
      "layer": "slide",
      "matchId": "83665352-0d0e-44d4-b43b-3b200f2a8525",
      "evidence": "Evaluated tenant websites, public filings, earnings transcripts, investor presentations and press releases; mall REIT earnings transcripts; industry trade publications and news articles to develop a sense of",
      "confidence": 0.7
    }
  ],
  "frameworks": [
    {
      "name": "analytical-method",
      "slug": null,
      "matchId": "9ff98f35-0117-429c-89c9-82d3a4723af1",
      "evidence": "The slide describes the specific methodology and data sources used for a bottoms-up financial analysis.",
      "confidence": 0.9
    }
  ],
  "arcBeats": [
    {
      "to": 68,
      "from": 50,
      "beatId": "4c4e9421-fc45-4198-a957-842c3fde0f52",
      "arcName": "Problem-Agitate-Solution",
      "arcSlug": "problem-agitate-solution",
      "beatName": "Action",
      "beatSlug": "aida-action",
      "evidence": "The presentation encourages action by providing a summary of the key takeaways and a call to action.",
      "position": 6,
      "confidence": 0.8,
      "parentBeatName": "Resolution",
      "parentBeatSlug": "resolution"
    }
  ],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}