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  "documentTitle": "J.C. Penney Company, Inc. (JCP)",
  "authorId": "01_Pershing_Square",
  "authorName": "William Ackman",
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  "presentationDate": "2012-05-16 00:00:00",
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  "notes": "The slide uses a callout box to emphasize the negative performance outcome.",
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      "kind": "callout",
      "text": "During the Ullman era the stock fell 14%, despite a ~20% buyback",
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      "text": "Source: Bloomberg. Through 6/13/2011 – The day before Ron Johnson’s hiring was announced",
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      "text": "Late 2000s: Progress Stalls",
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      "text": "JCP - Stock Price under Ullman",
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