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  "documentTitle": "Darden Restaurants, Inc. (DRI)",
  "authorId": "03_Starboard_Value",
  "authorName": "Jeffrey C. Smith",
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  "presentationDate": "2014-09-11 00:00:00",
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  "notes": "Uses a matrix-like structure to contrast capital investment against operational success and value destruction.",
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      "text": "Two of the incumbent nominees oversaw the substantial value destruction that we believe occurred at BOTH Red Lobster and Smokey Bones, and three were on the Compensation Committee that, as described later, put into place an incentive structure we believe that encouraged excessive spending as the answer to every problem",
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      "text": "Two of the incumbent nominees oversaw the substantial value destruction that we believe occurred at BOTH Red Lobster and Smokey Bones, and three were on the Compensation Committee that, as described later, put into place an incentive structure we believe that encouraged excessive spending as the answer to every problem",
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      "text": "Source: Company filings. (1) Assumes $350,000 per restaurant and 2010 restaurant count of 694, per company filings. (2) May 7, 2007 transcript. (3) See slide 37 for estimated value received for Red Lobster's operating business.",
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      "text": "Comparison matrix of Smokey Bones, Red Lobster, and Olive Garden across three criteria: capital investment, operational turnaround, and value destruction.",
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      "text": "Darden has a history of spending massive amounts of capital only to sell brands at fire sale prices and destroy shareholder value",
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