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  "docSlug": "71f980c94b7e",
  "documentTitle": "Canadian Pacific Railway (CP)",
  "authorId": "01_Pershing_Square",
  "authorName": "William Ackman",
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  "sourceTypeSlug": "activist_investor",
  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2012-02-06 00:00:00",
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  "pageNumber": 24,
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  "slideType": "problem_statement",
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  "density": "dense",
  "nDataPoints": 28,
  "notes": "The slide uses a callout box to emphasize a specific 200bps loss metric.",
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      "kind": "callout",
      "text": "CP has lost market share to CN, particularly in service sensitive and transient Intermodal, due to inferior service and operational issues",
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      "kind": "callout",
      "text": "CP has lost ~200bps to CN (excl. DM&E)",
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      "text": "Market share comparison between CP and CN (Intermodal) from 2005-2011",
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      "text": "Market Share: 200bps",
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      "kind": "source-note",
      "text": "Source: Company filings. (1) Excludes DM&E RTMs as of 2008. DM&E RTMs, largely concentrated in grain and industrial products / energy, have likely grown; this may understate CP's share loss excluding DM&E.",
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      "text": "CP's Total Market Share and Est. Excl. DM&E data rows",
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      "kind": "title",
      "text": "Issue #2: ...as is Continued Share Loss",
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