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  "documentTitle": "Canadian Pacific Railway (CP)",
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  "authorName": "William Ackman",
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  "presentationDate": "2012-02-06 00:00:00",
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  "notes": "Uses a classic 'before-after' or 'contrast' framing to highlight misalignment between performance and pay.",
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      "text": "Fred Green has been paid $27mm from 2006 – 2010",
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      "text": "Negative 18% total return to shareholders, including dividends, over tenure(1)\n$1.8bn of shareholder value destroyed(1)",
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      "text": "Fred Green's \"Value\" to Shareholders",
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      "text": "(1) Returns from May 5, 2006 (date upon which Fred Green became CP's CEO) through September 22, 2011 (prior to Pershing Square's accumulation). Total return to shareholders includes dividends, assumed to be reinvested.",
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