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  "documentTitle": "Pershing Square | Activist Presentation Deck | 45 slides",
  "authorId": "pershing-square",
  "authorName": "Pershing Square Capital Management",
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  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2013-05-01 00:00:00",
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  "notes": "Uses a weighted average calculation to justify a 5% long-term growth target.",
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      "text": "Midpoint: 5% long-term organic sales growth",
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      "text": "Our estimate of 5% organic revenue growth is consistent with P&G’s longer-term historical levels and long-term targets",
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      "text": "Based on its (1) mix of emerging and developed market, (2) global scale and (3) significant marketing investments, we believe P&G should grow organic sales consistently at a 5% level on a long-term basis",
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      "text": "Developed Markets 60% 1.5% 3.5% Emerging Markets 40% 7.5% 10% Total Growth ~4% ~6%",
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