{
  "docId": "019dd923-622c-750b-8b9c-571191cc7adb",
  "docSlug": "48a8cbf2f1d7",
  "documentTitle": "Arconic Inc. (ARNC)",
  "authorId": "02_Elliott_Management",
  "authorName": "Elliott",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "activist_investor",
  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2017-04-11 00:00:00",
  "orientation": "landscape",
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  "pageNumber": 53,
  "pageCount": 336,
  "prevPage": 52,
  "nextPage": 54,
  "slideType": "before_after",
  "function": "expose_contradiction",
  "density": "dense",
  "nDataPoints": 15,
  "notes": "The slide uses a before/after framing to attribute stock performance to activist intervention.",
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  "metadataConfidence": 1,
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  "slideHref": "/slides/019dd923-622c-750b-8b9c-571191cc7adb/53",
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  "components": [
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      "bbox": null,
      "kind": "callout",
      "text": "Since Elliott announced its intention to pursue the removal of Dr. Kleinfeld as CEO, the Company’s stock has risen substantially",
      "attrs": null,
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    {
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      "kind": "metric",
      "text": "TSR %: 34.9%",
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      "toolName": "Quantification",
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      "componentId": "019dd953-0391-77f4-a9f8-98d93b3b501b",
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      "kind": "source-note",
      "text": "Source: Bloomberg. Notes 1-3 detailing calculation periods.",
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      "kind": "table",
      "text": "TSR % Before Elliott Launched Proxy Fight: Arconic 1.5%, Arconic Excluding Alcoa Stake (4.5%), 2017 Proxy Peer 12.3%, S&P 500 Index 7.8%, New Alcoa 69.0%",
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      "kind": "table",
      "text": "TSR % After Elliott Launched Proxy Fight Through April 7th: Arconic 20.6%, Arconic Excluding Alcoa Stake 24.9%, 2017 Proxy Peer 4.6%, S&P 500 Index 3.8%, New Alcoa (6.9%)",
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      "kind": "table",
      "text": "TSR % After Elliott Launched Proxy Fight: Arconic 34.9%, Arconic Excluding Alcoa Stake 39.6%, 2017 Proxy Peer 5.2%, S&P 500 Index 5.4%, New Alcoa 4.9%",
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      "kind": "title",
      "text": "When Arconic posted its earnings on the afternoon of January 31st, the Company’s stock fell 4% in after hours trading. Since Elliott announced its intention to pursue the removal of Dr. Kleinfeld as CEO, the Company’s stock has risen substantially",
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  "loops": [
    {
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      "name": "Cost Of Inaction",
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      "evidence": "The document highlights the market's reaction to Elliott's call for change, demonstrating the cost of inaction.",
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