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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 bar chart to illustrate the trend of Red Lobster same-store-sales and a callout to link the trend to management's incentives.",
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      "kind": "callout",
      "text": "Red Lobster’s negative SSS would adversely weigh on management’s new compensation program",
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      "text": "Due to pressure from activist shareholders... Darden made a reactionary announcement... to focus on free cash flow and same-store-sales (SSS).",
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      "text": "Given Red Lobster’s negative same-store-sales trends, it was clearly no longer in the best interest of management... to retain Red Lobster.",
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      "text": "Darden updated its 2014 financial outlook to an expectation of an EPS decline... due largely to a meaningful downward adjustment in the forecast of same-restaurant sales results at Red Lobster.",
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      "text": "same-store-sales: (8.8%)",
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      "text": "Source: Company filings and Wall Street equity research.",
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      "text": "Recent changes to Darden’s compensation programs made owning Red Lobster unfavorable from management’s standpoint",
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