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  "documentTitle": "The Procter & Gamble Company (PG)",
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  "authorName": "William Ackman",
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  "presentationDate": "2013-05-08 00:00:00",
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      "text": "P&G's $6bn of COGS reduction target from FY 2011 to 2016 translates into less than 3% annual COGS efficiency. Many CPG peers undertaking productivity initiatives have demonstrated significantly higher annual COGS productivity in the range of 3.5% to 4% (1)",
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      "text": "P&G’s $6bn of COGS reduction target from FY 2011 to 2016 translates into less than 3% annual COGS efficiency. Many CPG peers undertaking productivity initiatives have demonstrated significantly higher annual COGS productivity in the range of 3.5% to 4%",
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