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  "documentTitle": "Blackwells Capital | Activist Presentation Deck | 15 slides",
  "authorId": "blackwells-capital",
  "authorName": "Blackwells Capital",
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  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2024-03-01 00:00:00",
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  "pageNumber": 8,
  "pageCount": 15,
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  "slideType": "expose_contradiction",
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  "notes": "Uses a 'before-after' or 'contradiction' framing by juxtaposing corporate policy text against specific company actions.",
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      "kind": "callout",
      "text": "Are you involved in decisions regarding our Company and a financial institution? If you play a role in establishing or managing a relationship between our Company and any financial institution, you may not enter into any transaction with – or receive any benefit or opportunity from – the institution that isn’t generally available to other customers or clients.",
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      "text": "Screenshot of Disney Standards of Business Conduct page",
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      "kind": "paragraph",
      "text": "Also on January 3, 2024, the Company and ValueAct, following constructive conversations throughout the past year, announced a confidentiality agreement that enables the Company to provide information to ValueAct and consult with ValueAct on strategic matters...",
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      "kind": "quote",
      "text": "Our policies are designed to…[p]romote transparency – we don’t engage in any activity that would compromise our professional judgment or suggest favorable or preferential treatment",
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      "subkind": "pull-quote",
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      "kind": "source-note",
      "text": "Source: Disney Standards of Business Conduct; voteDisney.com; Definitive Proxy Statement filed by Disney on February 2, 2024.",
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      "kind": "title",
      "text": "Is the Board violating Disney’s commitment to its shareholders?",
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      "arcName": "Overcoming the Monster",
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      "evidence": "Slides 3-13 are all about exposing contradictions in Disney's board and ValueAct's relationship.",
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      "name": "Cost Of Inaction",
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      "evidence": "The document implies that not disclosing the relationship has significant consequences.",
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      "description": "Quantify what happens if the audience does nothing"
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