{
  "docId": "019f6b8f-21c6-754a-b250-06b25ce76c19",
  "docSlug": "jarvis-hestia-pitney-bowes-presentation-april-2023",
  "documentTitle": "Hestia Pitney Bowes Presentation April 2023",
  "authorId": "hestia-pitney-bowes-presentation-april-2023",
  "authorName": null,
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "activist_investor",
  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2023-04-01 00:00:00",
  "orientation": null,
  "aspectRatio": null,
  "pageNumber": 20,
  "pageCount": 116,
  "prevPage": 19,
  "nextPage": 21,
  "slideType": "propose_solution",
  "function": "propose_solution",
  "density": "balanced",
  "nDataPoints": 14,
  "notes": "Compares Pitney Bowes GEC performance against UPS and FedEx benchmarks.",
  "elementsJson": null,
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019f6b8f-21c6-754a-b250-06b25ce76c19/20",
  "deckHref": "/decks/019f6b8f-21c6-754a-b250-06b25ce76c19",
  "deckJsonHref": "/decks/019f6b8f-21c6-754a-b250-06b25ce76c19.json",
  "deckAnchorHref": "/decks/019f6b8f-21c6-754a-b250-06b25ce76c19#slide-20",
  "components": [
    {
      "bbox": {
        "h": 0.4,
        "w": 0.52,
        "x": 0.46,
        "y": 0.18
      },
      "kind": "chart",
      "text": "Initial Triage: Revenue, Gross Profit, OpEx, EBIT (2022 vs Target)",
      "attrs": null,
      "subkind": "bar-grouped",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "f3a094c3-af52-4c93-9c03-8a111947ec90",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.4,
        "w": 0.42,
        "x": 0.03,
        "y": 0.18
      },
      "kind": "chart",
      "text": "Gross Margin comparison (2019-2022)",
      "attrs": null,
      "subkind": "line",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "a5706601-a5b1-44d9-9358-6ccf83a98e73",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.25,
        "w": 0.95,
        "x": 0.03,
        "y": 0.65
      },
      "kind": "list",
      "text": "Our analysis suggests that GEC’s domestic parcel business is operating at about 2.1% gross margin (UPS and FedEx are both at 25% gross margin). Pivoting to a niche strategy should enable Pitney Bowes to reduce losses while exploring strategic alternatives. We believe that through initial triage we can improve gross profit by $30 million - $60 million by pursuing alternative pricing strategies for unprofitable clients and network optimization. These steps would conservatively save another $20 million in OpEx. If the business is not sold, future steps would target EBIT profitability, return on investment (“ROI”) in excess of cost of capital, then profitable growth.",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "ec194765-315e-4d48-afef-721bbeebf041",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.03,
        "w": 0.4,
        "x": 0.02,
        "y": 0.96
      },
      "kind": "other",
      "text": "Source: UPS 10-K filings, 2019-2022; FedEx 10-K filings, 2019-2022; Pitney Bowes 10-K filings, 2019-2022.",
      "attrs": null,
      "subkind": "source-note",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "ad489112-d538-4011-ae89-f5a739e681ef",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.1,
        "w": 0.8,
        "x": 0.02,
        "y": 0.02
      },
      "kind": "title",
      "text": "Pillar #2: Restore GEC to Profitability & Explore Alternatives",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "0314499b-d53d-4deb-a81f-19417ecbe82c",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [
    {
      "name": "Comparison frame",
      "slug": "comparison-frame",
      "agent": null,
      "layer": "slide",
      "matchId": "9b3325cb-8b22-4044-a15e-96235e559afe",
      "evidence": "The slide compares GEC's gross margin to UPS and FedEx.",
      "confidence": 0.7
    }
  ],
  "frameworks": [
    {
      "name": "before-after-bridge",
      "slug": null,
      "matchId": "08f2d6fb-124b-4373-bd1f-7c60bdd58bac",
      "evidence": "Compares 2022 actuals to target state for GEC business unit.",
      "confidence": 0.8
    }
  ],
  "arcBeats": [
    {
      "to": 50,
      "from": 15,
      "beatId": "f7e7557e-cfab-4660-95ee-b5f0b55c79f0",
      "arcName": "Problem-Agitate-Solution",
      "arcSlug": "problem-agitate-solution",
      "beatName": "Agitate",
      "beatSlug": "problem-agitate-solution-agitate-make-it-worse",
      "evidence": "The document agitates the problems, highlighting the failures of the current leadership and the consequences of inaction.",
      "position": 1,
      "confidence": 0.8,
      "parentBeatName": "Development",
      "parentBeatSlug": "development"
    }
  ],
  "loops": [
    {
      "to": 25,
      "from": 15,
      "name": "Cost Of Inaction",
      "slug": "27-cost-of-inaction",
      "bestFor": "Urgent budget requests, compliance, risk mitigation",
      "matchId": "40f84b2f-22b4-4735-8b6a-a76d5fcbf5cb",
      "evidence": "The document presents the costs of inaction, including continued underperformance and value destruction.",
      "position": 0,
      "objective": "To highlight the costs of inaction and the benefits of change",
      "structure": "The Status Quo -> The Hidden Costs Accumulating -> The Future State of Inaction -> The Tipping Point",
      "confidence": 0.7,
      "description": "Quantify what happens if the audience does nothing"
    },
    {
      "to": 24,
      "from": 19,
      "name": "Mece Breakdown",
      "slug": "40-mece-breakdown",
      "bestFor": "Problem structuring, ensuring completeness, strategic analysis",
      "matchId": "55548f9a-ded7-4f57-acc7-68b4a11d325e",
      "evidence": "The document breaks down the solution into six pillars, each addressing a specific issue.",
      "position": 1,
      "objective": "To break down the solution into manageable parts",
      "structure": "The Whole -> Category A (distinct) -> Category B (distinct) -> Category C (distinct) -> Complete Coverage",
      "confidence": 0.7,
      "description": "Divide a complex topic into mutually exclusive, collectively exhaustive categories"
    }
  ],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}