{
  "docId": "019dd923-622c-750b-8b9b-bf6e72adba7f",
  "docSlug": "118452fbd911",
  "documentTitle": "Herbalife, Ltd. (HLF)",
  "authorId": "01_Pershing_Square",
  "authorName": "William Ackman",
  "documentKindSlug": "conference-presentation",
  "documentKindLabel": "Conference presentation",
  "sourceTypeSlug": "activist_investor",
  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2016-07-20 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.3333334,
  "pageNumber": 25,
  "pageCount": 48,
  "prevPage": 24,
  "nextPage": 26,
  "slideType": "key_messages",
  "function": "summarize",
  "density": "overcrowded",
  "nDataPoints": 0,
  "notes": "The slide uses authority citations to frame the severity of the regulatory action.",
  "elementsJson": [
    "headline_text",
    "subtitle_text",
    "quote_block"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622c-750b-8b9b-bf6e72adba7f/25",
  "deckHref": "/decks/019dd923-622c-750b-8b9b-bf6e72adba7f",
  "deckJsonHref": "/decks/019dd923-622c-750b-8b9b-bf6e72adba7f.json",
  "deckAnchorHref": "/decks/019dd923-622c-750b-8b9b-bf6e72adba7f#slide-25",
  "components": [
    {
      "bbox": {
        "h": 0.05,
        "w": 0.92,
        "x": 0.04,
        "y": 0.17
      },
      "kind": "callout",
      "text": "The impact on HLF’s business will be dictated by the injunctive relief",
      "attrs": null,
      "subkind": "primary",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "5875f309-0644-4204-bad8-bfdc3fc967d1",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.86,
        "x": 0.07,
        "y": 0.63
      },
      "kind": "quote",
      "text": "“It’s no longer business as usual at Herbalife” - FTC blog 7/15/16",
      "attrs": null,
      "subkind": "testimonial",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "014ecd21-3fcc-434d-be0b-b586dfb804fc",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.06,
        "w": 0.86,
        "x": 0.07,
        "y": 0.74
      },
      "kind": "quote",
      "text": "“The FTC’s settlement significantly restructures Herbalife, changing – top to bottom – how it does business” - Statement of Lois Greisman, Associate Director, FTC Division of Marketing Practices",
      "attrs": null,
      "subkind": "testimonial",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "14ae3e51-63c4-4753-9ba8-83878d1c91f2",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.08,
        "w": 0.86,
        "x": 0.07,
        "y": 0.39
      },
      "kind": "quote",
      "text": "“An order that requires Herbalife to restructure its business from top to bottom – and to start complying with the law” - FTC blog 7/15/16",
      "attrs": null,
      "subkind": "testimonial",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "4b2d576e-f55a-43c4-ac62-06d13000c8ac",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.08,
        "w": 0.86,
        "x": 0.07,
        "y": 0.25
      },
      "kind": "quote",
      "text": "The “key goal is to dismantle the alleged deception and unfairness built into how Herbalife does business. As the company rewrites its advertising claims and restructures its compensation system, we’ll be watching” - FTC blog 7/15/16",
      "attrs": null,
      "subkind": "testimonial",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "79f9a3a1-f382-48f6-9900-414ed40301d1",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.86,
        "x": 0.07,
        "y": 0.52
      },
      "kind": "quote",
      "text": "“A major restructuring of business operations” - Edith Ramirez, FTC Chairman 7/15/16",
      "attrs": null,
      "subkind": "testimonial",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "efc11341-1594-4c3d-9e81-bae4b68b04f7",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "quote",
      "text": "“The key goal is to dismantle the alleged deception and unfairness built into how Herbalife does business. As the company rewrites its advertising claims and restructures its compensation system, we’ll be watching” — FTC blog 7/15/16; “An order that requires Herbalife to restructure its business from top to bottom – and to start complying with the law” — FTC blog 7/15/16; “A major restructuring of business operations” — Edith Ramirez, FTC Chairman 7/15/16; “It’s no longer business as usual at Herbalife” — FTC blog 7/15/16; “The FTC’s settlement significantly restructures Herbalife, changing – top to bottom – how it does business” — Statement of Lois Greisman, Associate Director, FTC Division of Marketing Practices",
      "attrs": null,
      "subkind": null,
      "toolName": "Authority citation",
      "toolSlug": "authority-citation",
      "confidence": null,
      "componentId": "019dd953-70f4-766c-b4de-864e6779ebd2",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.85,
        "x": 0.04,
        "y": 0.08
      },
      "kind": "title",
      "text": "The Heart of the Settlement - Injunctive Relief",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "0089517f-b084-445e-bc21-2c7abda3a2de",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [
    {
      "name": "authority-citation",
      "slug": null,
      "matchId": "fa3d273b-9f4e-45ef-9c6b-d3404596dbb1",
      "evidence": "Uses quotes from FTC officials to validate the severity of the settlement.",
      "confidence": 0.9
    }
  ],
  "arcBeats": [
    {
      "to": 48,
      "from": 25,
      "beatId": "09a6079e-0a1a-42d1-bda7-758bd715fc9b",
      "arcName": "Problem-Agitate-Solution",
      "arcSlug": "problem-agitate-solution",
      "beatName": "Impact & Next Steps",
      "beatSlug": "consultants-gambit-impact-next-steps",
      "evidence": "The presentation discusses the impact of the FTC settlement and next steps on slides 25-48",
      "position": 2,
      "confidence": 0.8,
      "parentBeatName": "Resolution",
      "parentBeatSlug": "resolution"
    }
  ],
  "loops": [
    {
      "to": 30,
      "from": 25,
      "name": "Cost Of Inaction",
      "slug": "27-cost-of-inaction",
      "bestFor": "Urgent budget requests, compliance, risk mitigation",
      "matchId": "269c64e1-bb34-4225-9970-bc976ab5b9da",
      "evidence": "The presentation discusses the cost of inaction and the impact of the FTC settlement on Herbalife's business",
      "position": 2,
      "objective": "To highlight the impact of the FTC settlement on Herbalife's business",
      "structure": "The Status Quo -> The Hidden Costs Accumulating -> The Future State of Inaction -> The Tipping Point",
      "confidence": 0.7,
      "description": "Quantify what happens if the audience does nothing"
    }
  ],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}