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  "documentTitle": "Bilgari Cracker Barrel Presentation October 2020",
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      "kind": "callout",
      "text": "Vote FOR Rick Barbrick on the GOLD card",
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      "text": "We believe change is warranted due to: Lagging TSR relative to closest peers and benchmark index; Failure to execute on the three-year strategic roadmap; Negative guest traffic; Declining margins; Deteriorating sales-to-investment ratio; Strategic shift in acquisition.",
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      "text": "For the duration of our investment in Cracker Barrel, we have advocated for measures that would enhance the brand and deliver value to shareholders.",
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      "text": "If elected, our nominee will help to: Bring discipline to capital allocation; Focus the Board on the brand; Reject egregious acquisitions; Disclose returns on capital; Return capital to shareholders.",
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      "text": "Our independent nominee, Mr. Barbrick, brings 30+ years of investor and operator experience managing multiple casual dining brands. Our goal is to enhance CBRL's Board by adding the necessary industry experience, which it currently lacks.",
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      "text": "The Punch Bowl Social endeavor that netted shareholders a $137 million loss in 8 months is inexcusable as every aspect of the failed partnership raised significant concerns and questions that the Board still refuses to address.",
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