{
  "docId": "019f6b8f-3408-76ba-99db-827091d2379c",
  "docSlug": "jarvis-macellum-spartan-nash-presentation-may-2022",
  "documentTitle": "Macellum Spartan Nash Presentation May 2022",
  "authorId": "macellum-spartan-nash-presentation-may-2022",
  "authorName": null,
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "activist_investor",
  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2022-05-01 00:00:00",
  "orientation": null,
  "aspectRatio": null,
  "pageNumber": 29,
  "pageCount": 64,
  "prevPage": 28,
  "nextPage": 30,
  "slideType": "expose_contradiction",
  "function": "expose_contradiction",
  "density": "sparse",
  "nDataPoints": 2,
  "notes": "Uses a classic myth vs. reality framework to discredit the incumbent board.",
  "elementsJson": null,
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019f6b8f-3408-76ba-99db-827091d2379c/29",
  "deckHref": "/decks/019f6b8f-3408-76ba-99db-827091d2379c",
  "deckJsonHref": "/decks/019f6b8f-3408-76ba-99db-827091d2379c.json",
  "deckAnchorHref": "/decks/019f6b8f-3408-76ba-99db-827091d2379c#slide-29",
  "components": [
    {
      "bbox": {
        "h": 0.65,
        "w": 0.9,
        "x": 0.05,
        "y": 0.21
      },
      "kind": "framework",
      "text": "Myth vs Reality comparison table",
      "attrs": null,
      "subkind": "instance",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "9cfad91a-7beb-4ca8-a297-28092951a40c",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.45,
        "x": 0.05,
        "y": 0.91
      },
      "kind": "other",
      "text": "Source: Bloomberg LP. Data as of 03/17/2022. TSR is based on a fixed dividend reinvestment rate of 0. 3793%. Notes: TSR Data from Bloomberg LP- 1: Total shareholder return reflects the period from 08/12/19 to 3/17/22 and 09/14/20 to 3/17/22. Macellum Advisors GP, LLC",
      "attrs": null,
      "subkind": "source-note",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "19b14118-7b3c-4045-8665-21d1d8b71ccb",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.03,
        "w": 0.6,
        "x": 0.05,
        "y": 0.16
      },
      "kind": "paragraph",
      "text": "SpartanNash has misrepresented several key facts pertaining to its performance and Macellum's campaign for change:",
      "attrs": null,
      "subkind": "description",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "1bf7c8ec-a4bb-4321-bdaa-dc5cb71ed479",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.04,
        "w": 0.45,
        "x": 0.05,
        "y": 0.08
      },
      "kind": "title",
      "text": "THE CURRENT BOARD HAS LOST CREDIBILITY",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "5c00a2ba-7bc3-4024-b01a-bfeb7f50245a",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [
    {
      "name": "before-after-framing",
      "slug": null,
      "matchId": "a6644dc1-0a63-4d67-b5ff-aff405400701",
      "evidence": "Uses a side-by-side comparison of 'Myth' vs 'Reality' to frame the board's narrative as false.",
      "confidence": 0.95
    }
  ],
  "arcBeats": [
    {
      "to": 40,
      "from": 13,
      "beatId": "f2c3b9ce-5e3a-4714-bf8b-fa14b573ab56",
      "arcName": "Problem-Agitate-Solution",
      "arcSlug": "problem-agitate-solution",
      "beatName": "Agitate (Make it worse)",
      "beatSlug": "problem-agitate-solution-agitate-make-it-worse",
      "evidence": "The document agitates the problems by highlighting poor governance, failed M&A, and misaligned executive compensation",
      "position": 1,
      "confidence": 0.9,
      "parentBeatName": "Development",
      "parentBeatSlug": "development"
    }
  ],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}