{
  "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": 53,
  "pageCount": 116,
  "prevPage": 52,
  "nextPage": 54,
  "slideType": "expose_contradiction",
  "function": "expose_contradiction",
  "density": "balanced",
  "nDataPoints": 18,
  "notes": "The slide uses a visual grid of headshots paired with purchase data to expose a lack of 'skin in the game'.",
  "elementsJson": null,
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019f6b8f-21c6-754a-b250-06b25ce76c19/53",
  "deckHref": "/decks/019f6b8f-21c6-754a-b250-06b25ce76c19",
  "deckJsonHref": "/decks/019f6b8f-21c6-754a-b250-06b25ce76c19.json",
  "deckAnchorHref": "/decks/019f6b8f-21c6-754a-b250-06b25ce76c19#slide-53",
  "components": [
    {
      "bbox": {
        "h": 0.08,
        "w": 0.95,
        "x": 0.02,
        "y": 0.82
      },
      "kind": "callout",
      "text": "The Board's collective de minimis stake in Pitney Bowes shows a clear lack of alignment with long-suffering stockholders.",
      "attrs": null,
      "subkind": "primary",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "8557926d-9c4e-4eaa-b2c5-564039144841",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.45,
        "w": 0.95,
        "x": 0.02,
        "y": 0.3
      },
      "kind": "image",
      "text": "Grid of 9 board member headshots with purchase data",
      "attrs": null,
      "subkind": "headshot",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "b6bf8324-c73c-4cb7-8f7e-1e0a7ccbe2d9",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.95,
        "x": 0.02,
        "y": 0.92
      },
      "kind": "other",
      "text": "*Number of shares purchased in the open market over tenure. Source: Company filings.",
      "attrs": null,
      "subkind": "source-note",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "2b91ce84-b681-4e5a-b455-bd6eff8fb6e1",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.1,
        "w": 0.95,
        "x": 0.02,
        "y": 0.18
      },
      "kind": "paragraph",
      "text": "The current Board owns few shares, has purchased very few of those shares, and the nominees we are seeking to replace have not purchased shares (even as the price plummeted during the past several years due to GEC's poor performance).",
      "attrs": null,
      "subkind": "description",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "aaf28127-4bc8-4af8-9325-ba2a469966aa",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.08,
        "w": 0.95,
        "x": 0.02,
        "y": 0.72
      },
      "kind": "table",
      "text": "Most Recent Purchases timeline",
      "attrs": null,
      "subkind": "data",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "bdbbb7af-1f9b-4eca-98a6-5ebedd43ef36",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.15,
        "w": 0.8,
        "x": 0.02,
        "y": 0.02
      },
      "kind": "title",
      "text": "Governance Lapse #2: The Board Has Virtually No Alignment with Stockholders",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "4809a78d-5dcd-4a74-bfb0-a684d792d851",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [
    {
      "name": "antagonist-introduction",
      "slug": null,
      "matchId": "10537053-3e17-45b6-9472-9ba4d81ca695",
      "evidence": "Frames the board as the antagonist due to lack of alignment.",
      "confidence": 0.9
    },
    {
      "name": "capital-allocation-framework",
      "slug": null,
      "matchId": "e6307c54-ccc7-402e-b206-918b96fd49c3",
      "evidence": "Focuses on board's personal capital investment as a proxy for alignment.",
      "confidence": 0.8
    }
  ],
  "arcBeats": [
    {
      "to": 116,
      "from": 51,
      "beatId": "e2465868-9c4e-4fcc-aaaf-fd6f9d50aeb9",
      "arcName": "Problem-Agitate-Solution",
      "arcSlug": "problem-agitate-solution",
      "beatName": "Solution",
      "beatSlug": "problem-agitate-solution-solution-provide-relief",
      "evidence": "The document offers a solution, presenting a value creation plan and a new slate of directors.",
      "position": 2,
      "confidence": 0.8,
      "parentBeatName": "Resolution",
      "parentBeatSlug": "resolution"
    }
  ],
  "loops": [
    {
      "to": 60,
      "from": 51,
      "name": "Jobs To Be Done",
      "slug": "53-jobs-to-be-done",
      "bestFor": "Product innovation, market entry, competitive positioning",
      "matchId": "6f0cb0c6-b81c-4201-9cc7-43ddbd79f207",
      "evidence": "The document presents the need for change and the role of the new slate of directors in driving transformation.",
      "position": 2,
      "objective": "To highlight the need for change and the role of the new slate of directors",
      "structure": "The Customer's Job -> Current Solutions (Hired/Fired) -> Unmet Needs -> Our Solution Fit",
      "confidence": 0.6,
      "description": "Reframe the problem around what the customer is trying to accomplish, not what they're buying"
    }
  ],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}