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  "documentTitle": "Hess Corporation (HES)",
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  "authorName": "Elliott Management",
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  "presentationDate": "2013-03-01 00:00:00",
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  "notes": "Uses a before-after framing to contrast the current 'opaque' structure with the proposed 'accountable' structure.",
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      "kind": "callout",
      "text": "Hess's March promises (if delivered) affect less than 10% of potential share uplift (1) over another 2 year period",
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      "text": "TEV: $39 to $50 billion",
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      "text": "Source: Company filings; 1. Elliott estimates; Per share values calculated net of debt, cash pro forma for announced/completed transactions (Azerbaijan & UK assets), pension, tax attributes, interest tax shield",
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      "text": "Unlock great companies that will be accountable to shareholders",
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      "text": "Create Hess International",
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