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  "documentTitle": "Canadian Pacific Railway (CP)",
  "authorId": "01_Pershing_Square",
  "authorName": "William Ackman",
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  "presentationDate": "2012-02-06 00:00:00",
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  "notes": "Uses a contrast frame to preemptively address potential shareholder fears regarding a change of control.",
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      "kind": "callout",
      "text": "We are confident that with a shareholder mandate, the Board will make the right CEO decision",
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      "text": "What does a vote for the NMC mean? Support for management change; Valuable skills and new perspectives for the Board; Three independent Canadian directors and Board representation for a major shareholder",
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      "text": "What a vote for the NMC does NOT mean: Not a change of control; Pershing Square would have two of 13 or 15 Board seats; The entire, refreshed Board will make the CEO hiring decision",
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      "text": "What Does a Vote for the NMC Mean?",
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