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  "documentTitle": "Arconic Inc. (ARNC)",
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  "notes": "Uses a psychological framework (Hogan/Dattner) to pathologize the CEO's behavior.",
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      "text": "The current attempt to represent performance as excellent is an absolute scandal in and of itself, in our view.",
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      "text": "Characteristics of Impunitive Personality: Denies Blame\n- Bold: Big Person on Campus\n  - Becomes angry or hurt when blamed. Integrates self with superiors in hopes of avoiding blame\n- Mischievous: High Wire Walker\n  - Denies role in failure, may deny that failure has even occurred. Distorts information to avoid blame\n- Colorful: Thespian\n  - Expects forgiveness for any and all failures\n  - Would rather be blamed than ignored\n- Imaginative: Assertive Daydreamer\n  - Offers complex explanations for failures\n  - Seems anxious about being blamed in the future, but indifferent in the present",
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      "text": "Maybe some shareholders don't trust Elliott. Maybe some shareholders don't think that Arconic can close the margin gap with PCC. Perhaps some think the current board is fine as-is. It's even possible that some don't think that there is anything wrong with using the Company's assets for securing favorable proxy votes. But we cannot imagine anyone thinking that Dr. Kleinfeld's contention that \"performance has been excellent\" is reasonable. The current attempt to represent performance as excellent is an absolute scandal in and of itself, in our view. Dr. Kleinfeld's apparent \"impunitive nature\" is on full display – and we believe this personality type cannot be entrusted to lead any important organization.",
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      "text": "Source: Harvard Business Review, April 2011. Managing Yourself: Can You Handle Failure? Ben Dattner and Robert Hogan. (hbr.org/2011/04/managing-yourself-can-you-handle-failure)",
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