{
  "docId": "019dd923-622c-750b-8b9c-3c8a15220fd2",
  "docSlug": "348f49356270",
  "documentTitle": "Hess Corporation (HES)",
  "authorId": "02_Elliott_Management",
  "authorName": "Elliott Management",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "activist_investor",
  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2013-04-15 00:00:00",
  "orientation": "portrait",
  "aspectRatio": 0.77272725,
  "pageNumber": 7,
  "pageCount": 161,
  "prevPage": 6,
  "nextPage": 8,
  "slideType": "problem_statement",
  "function": "frame_problem",
  "density": "sparse",
  "nDataPoints": 0,
  "notes": "The slide uses a strong, declarative tone to frame the activist's thesis.",
  "elementsJson": [
    "bullet_list"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622c-750b-8b9c-3c8a15220fd2/7",
  "deckHref": "/decks/019dd923-622c-750b-8b9c-3c8a15220fd2",
  "deckJsonHref": "/decks/019dd923-622c-750b-8b9c-3c8a15220fd2.json",
  "deckAnchorHref": "/decks/019dd923-622c-750b-8b9c-3c8a15220fd2#slide-7",
  "components": [
    {
      "bbox": {
        "h": 0.05,
        "w": 0.6,
        "x": 0.25,
        "y": 0.7
      },
      "kind": "callout",
      "text": "These problems must be acknowledged if they will ever be fixed.",
      "attrs": null,
      "subkind": "primary",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "44cb529b-22bf-41d0-b54a-c37ae731132f",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.08,
        "w": 0.08,
        "x": 0.08,
        "y": 0.05
      },
      "kind": "image",
      "text": "HESS",
      "attrs": null,
      "subkind": "logo",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "2308980f-954b-4d1f-9f3a-3eab4ea79116",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.3,
        "w": 0.6,
        "x": 0.25,
        "y": 0.35
      },
      "kind": "list",
      "text": "Despite terrific assets, the Company continues to lack a focused strategy, to experience persistent operational issues, to engage in woefully flawed capital allocation, and to have a culture of denial at the top of the organization that rewards underperformance and avoids accountability.",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "e5576fa0-c3e5-4911-a98d-d875d841d89f",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.15,
        "w": 0.6,
        "x": 0.25,
        "y": 0.2
      },
      "kind": "title",
      "text": "The simple truth is one widely recognized in the oil & gas industry: there are fundamental problems at Hess.",
      "attrs": null,
      "subkind": "action-title",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "9bc8d33b-b20d-4e26-bcac-a8821a7ea35f",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [
    {
      "name": "action-titles",
      "slug": null,
      "matchId": "5d5c1a5c-97e2-4eb8-b74f-806693727960",
      "evidence": "The headline is a complete, declarative sentence summarizing the slide's argument.",
      "confidence": 1
    }
  ],
  "arcBeats": [
    {
      "to": 9,
      "from": 7,
      "beatId": "17f08371-fac5-45b5-8423-7128610612a8",
      "arcName": "Problem-Agitate-Solution",
      "arcSlug": "problem-agitate-solution",
      "beatName": "Problem Statement",
      "beatSlug": null,
      "evidence": "The presentation clearly states the problems at Hess, including poor capital discipline and lack of focus",
      "position": 0,
      "confidence": 0.9,
      "parentBeatName": null,
      "parentBeatSlug": null
    }
  ],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}