{
  "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": 26,
  "pageCount": 116,
  "prevPage": 25,
  "nextPage": 27,
  "slideType": "expose_contradiction",
  "function": "expose_contradiction",
  "density": "dense",
  "nDataPoints": 0,
  "notes": "The slide uses a numbered list to highlight the Board's lack of objectivity and contradictory behavior.",
  "elementsJson": null,
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019f6b8f-21c6-754a-b250-06b25ce76c19/26",
  "deckHref": "/decks/019f6b8f-21c6-754a-b250-06b25ce76c19",
  "deckJsonHref": "/decks/019f6b8f-21c6-754a-b250-06b25ce76c19.json",
  "deckAnchorHref": "/decks/019f6b8f-21c6-754a-b250-06b25ce76c19#slide-26",
  "components": [
    {
      "bbox": {
        "h": 0.06,
        "w": 0.94,
        "x": 0.03,
        "y": 0.42
      },
      "kind": "list",
      "text": "The fact is that the Company’s defamatory claim validates the Board’s lack of objectivity and contradictory decision-making. Here’s why:",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "3b7c013e-361a-4af3-9ffc-f317f5600473",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.08,
        "w": 0.94,
        "x": 0.03,
        "y": 0.72
      },
      "kind": "list",
      "text": "We are not predicting that the Company’s share price will reach $15 if our slate is elected, but we are targeting a $15 stock price that we believe can be achieved by effectuating the value enhancing initiatives as set forth in our plan.",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "49257445-0c54-4213-96e7-859ebcec7f54",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.03,
        "w": 0.94,
        "x": 0.03,
        "y": 0.38
      },
      "kind": "list",
      "text": "The Company cited Rule 14a-9(a) in a footnote.",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "734f2106-cb3b-464e-8e36-31be2f534bd4",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.12,
        "w": 0.94,
        "x": 0.03,
        "y": 0.26
      },
      "kind": "list",
      "text": "In a recent public letter issued by the incumbent Board, the Company said, “Hestia brazenly violated the federal proxy rules when it boldly announced a ‘$15+’ price target for Pitney Bowes stock because it is considered misleading to make ‘[p]redictions as to specific future market values’ in a proxy contest.”",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "ade906e3-cb5b-4064-98d9-3932a668492e",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.22,
        "w": 0.91,
        "x": 0.06,
        "y": 0.49
      },
      "kind": "list",
      "text": "1. In recent years, scores of investors involved in election contests have stated their views about how certain actions could yield higher share prices.\n2. The Board is yet to make any attempt to provide stockholders with its own KPIs and value-creation target, which are items long-suffering stockholders desire.\n3. If the Board does believe in the Company’s future prospects, it is curious that insiders have barely purchased any stock on the open market in recent years; this suggests a lack of confidence in the strategy the Board continues to support.",
      "attrs": null,
      "subkind": "numbered",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "1a9c013a-f0ee-4531-9e1f-a602b6b8779c",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.08,
        "w": 0.94,
        "x": 0.03,
        "y": 0.17
      },
      "kind": "paragraph",
      "text": "Pitney Bowes has demonstrated its level of desperation by stating - as a matter of fact - that we violated the federal proxy rules by sharing a view about the value associated with our plan.",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "27998c46-e9a4-48b4-8e24-9de27e19d46b",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.13,
        "w": 0.94,
        "x": 0.03,
        "y": 0.03
      },
      "kind": "title",
      "text": "Pitney Bowes Has Made Baseless Accusations About Our Efforts to Make Stockholders Aware of Our Value Creation Views",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "49c69bf2-95ee-4391-91c4-f10d7efc6456",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [
    {
      "name": "expose_contradiction",
      "slug": null,
      "matchId": "b144822a-4d60-4acd-a6f9-ceeb0c60cedb",
      "evidence": "The slide explicitly lists reasons why the Board's claim is contradictory.",
      "confidence": 0.9
    }
  ],
  "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": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}