{
  "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": 29,
  "pageCount": 48,
  "prevPage": 28,
  "nextPage": 30,
  "slideType": "propose_solution",
  "function": "propose_solution",
  "density": "overcrowded",
  "nDataPoints": 0,
  "notes": "This slide appears to be from a legal or regulatory presentation regarding the FTC vs. Herbalife case.",
  "elementsJson": [
    "headline_text",
    "callout_box",
    "bullet_list",
    "footnote"
  ],
  "metadataConfidence": 0.95,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622c-750b-8b9b-bf6e72adba7f/29",
  "deckHref": "/decks/019dd923-622c-750b-8b9b-bf6e72adba7f",
  "deckJsonHref": "/decks/019dd923-622c-750b-8b9b-bf6e72adba7f.json",
  "deckAnchorHref": "/decks/019dd923-622c-750b-8b9b-bf6e72adba7f#slide-29",
  "components": [
    {
      "bbox": {
        "h": 0.12,
        "w": 0.35,
        "x": 0.6,
        "y": 0.002
      },
      "kind": "callout",
      "text": "Qualifying purchases by distributors are prohibited",
      "attrs": null,
      "subkind": "primary",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "e1cd7640-c370-48b5-bb15-b51279e4e443",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "callout",
      "text": "Any volume thresholds/requirements for compensation, discounts, and advancement in the Marketing Plan must be met exclusively through “Profitable Retail Sales” and Sales to Preferred Customers",
      "attrs": null,
      "subkind": null,
      "toolName": "Visual emphasis",
      "toolSlug": "visual-emphasis",
      "confidence": null,
      "componentId": "019dd953-70f4-766c-b4dd-792f36744cf2",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.2,
        "w": 0.8,
        "x": 0.04,
        "y": 0.0066
      },
      "kind": "list",
      "text": "In order to make money with Herbalife, distributors must make profitable retail sales\nAccording to the FTC, retail sales “are simply not there”(1)\nGaming the marketing plan is no longer an option\nWhat incentive to sign up remains?",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "3803ff1e-b1cc-4513-bf12-793ab6ad98a4",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.15,
        "w": 0.92,
        "x": 0.04,
        "y": 0.0047
      },
      "kind": "paragraph",
      "text": "Any volume thresholds/requirements for compensation, discounts, and advancement in the Marketing Plan must be met exclusively through “Profitable Retail Sales” and Sales to Preferred Customers",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "41e5a184-9caf-49a7-b523-4b8a9c191898",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.15,
        "w": 0.35,
        "x": 0.04,
        "y": 0.00175
      },
      "kind": "paragraph",
      "text": "Herbalife currently requires distributors to make large product purchases in order to qualify for compensation and to advance in the Marketing Plan",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "b305c419-0bcc-4442-a0f2-ad34af6386e5",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "quote",
      "text": "“are simply not there” — FTC",
      "attrs": null,
      "subkind": null,
      "toolName": "Authority citation",
      "toolSlug": "authority-citation",
      "confidence": null,
      "componentId": "019dd953-70f4-766c-b4dd-7e97191aefe8",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.03,
        "w": 0.9,
        "x": 0.04,
        "y": 0.009699999999999999
      },
      "kind": "source-note",
      "text": "(1) FTC v. Herbalife International of America, Inc., et al. (July 15, 2016). Case No.2:16-cv-05217, Complaint for Permanent Injunction and Other Equitable Relief, at p.18.",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "dcefd494-dc50-4748-8760-25d540b22b24",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.55,
        "x": 0.04,
        "y": 0.08
      },
      "kind": "title",
      "text": "Qualification Purchases Are Prohibited",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "26fa721b-f2fa-400b-8a03-5b5ff2871dc6",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [
    {
      "name": "Problem-Agitate-Solve (PAS)",
      "slug": "problem-agitate-solve-pas",
      "agent": "Storyteller",
      "layer": "slide",
      "matchId": "bf8cd48c-2305-44ef-a836-5405d947be4b",
      "evidence": "The slide presents a problem (qualification purchases) and agitates it by highlighting the issue, then implies a solution by prohibiting such purchases.",
      "confidence": 0.7
    }
  ],
  "frameworks": [],
  "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
}