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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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      "text": "Total return to shareholders including dividends: negative 18%(1)",
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      "text": "EBIT down 1%\nExcluding DM&E, EBIT down ~10%\nOperating Ratio up 360bps\nTotal return to shareholders including dividends: negative 18%(1)",
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      "text": "(1) Represents total return to shareholders, assuming dividends reinvested. Returns from May 5, 2006 (date upon which Fred Green became CP’s CEO) through September 22, 2011 (prior to Pershing Square’s accumulation).",
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