Callouts & quotes from 37,061+ activist slides

"Datavault AI will mint experiential Valor tokens via a proprietary, military-grade deployment co-developed with Burke, connecting service men and women to their benefits, services, associations, unions, clubs, coupons, discounts and promotions offered by private sector businesses. Through Burke Products, an exclusive licensor of Datavault AI technology under a U.S. sole-source government contract—awarded only when no other supplier exists—Datavault AI's patents ensure unrivaled exclusivity in the U.S. and internationally. — DVLT August 25, 2025 PR"

"The parallels between Sakti3 and Quantumscape are striking: 1) Claiming a solid state battery breakthrough with a novel separator, which a skeptical Scientific American article likened to “the God Battery”; 2) high profile founders with previous R&D credibility; 3) technological “validation” because a large automaker invested (GM), similar to VW’s “validating” QS; and 4) drip-feeding scraps of “data” from tiny, single-layer, non-commercially relevant prototype cells and hyping them as groundbreaking with commercialization right around the corner."

"As Gary transitions to the Executive Chairman role, we are completely aligned in terms of the direction of the company. There are things, of course, that we want to work on, but this is not a change to Southwest Airlines, 90 degrees either direction. We're extremely aligned. We're not reinventing the company post-pandemic. It's quite the opposite... And I just want to stop and express my gratitude to my friend, Gary Kelly. He's been my sponsor, my mentor for 34 years. You couldn't have a better one. He's my friend. — CEO Bob Jordan, December 2021"

"...a GROUP OF 25-30 PEOPLE came into your restaurant unannounced. Your employees WELCOMED US WITH A SMILE, and we were seated quickly. Our main server was Terrence. He was PHENOMENAL. He was CHEERFUL, FRIENDLY AND EXTREMELY HELPFUL, and our service was fast and FLAWLESS. Our boys are 14, and we were in town for a SOCCER TOURNAMENT. Your servers ENGAGED with them and handled our table with ease. YOUR TEAM EXCEEDED MY EXPECTATIONS of large unannounced groups in restaurants. Thank you so much. KEEP DOING WHAT YOU ARE DOING. — Anonymous Guest Comment"

""I think their main issue is scalability. They cannot produce large quantities of their single pieces of DNA, and that causes all kinds of downstream application problems because they have to compensate for that in one way or another through methods like amplifying the material that they do have and tiling in the case of NGS. And consistency and turnaround time for double-stranded DNA constructs and keeping mutation rates down. They have repeatedly higher mutation rates in their double-stranded DNA." — IDT ex-regional sales manager, left recently"

"As Gary transitions to the Executive Chairman role, we are completely aligned in terms of the direction of the company. There are things, of course, that we want to work on, but this is not a change to Southwest Airlines, 90 degrees either direction. We're extremely aligned. We're not reinventing the company post-pandemic. It's quite the opposite... And I just want to stop and express my gratitude to my friend, Gary Kelly. He's been my sponsor, my mentor for 34 years. You couldn't have a better one. He's my friend. — CEO Bob Jordan, December 2021"

"“Solid provider, but not innovative.” — Client 1; “MSCI was an early mover on the climate space, they need to keep innovating to keep their position, the space has become much more crowded.” — Client 2; “MSCI is a leading index provider who has improved its analytics offerings. It needs to improve its ESG and climate product to better compete in the marketplace.” — Client 3; “I think that the value could be improved with additional customizability.” — Client 4; “MSCI works well but there is not much difference from them and JP Morgan.” — Client 5"

""The issue with the circular revenue with Synlogic, basically, they provided Synlogic $30 million, Synlogic turned around and paid it to them, so they were registering their own money as revenue, and then they tried to make a strain for Synlogic, and it didn't work, and then they had to go to Zymergen and get the strain. I think just two days ago; the clinical trials showed that the Zymergen strain was effective." — Former employee in a managerial role; "It's biology. Nobody even at Ginkgo can say whether it will or not" — Former Ginkgo employee."

""I question what their future looks like because if they don't have a strategic initiative that is going to gain them market share, it's going to be just hand-to-hand combat in the spinal cord stimulation space. I don't see the market share shifting a lot." — Longtime SCS executive; "I don't think he has an appreciation for what motivates the spinal cord stimulator customer." — Longtime SCS executive; "I know for a fact, on the inside, Grossman has said he's scratching his head over why the stock has done what it's done." — Longtime SCS executive"

"“The market will be flat. It should have been flat last year. There are just a lot of players in the market and pricing is eroding in the space. ASC’s couldn’t use Nevro because they kept the price really high. Grossman said screw that. We want as much market share as possible. Nevro started price reductions in the space after Grossman came in. Nevro drastically lowered pricing to get as much share as possible in 2019. It’s cutting your nose off to spite your face. Cutting prices will lower reimbursements over time.” — Medtronic territory manager"

"“Yeah, it’s crazy. They’ll deny it. There are times where—again, we might have that donor in Reno—perhaps they have a machine available here, and there are times when we have an OR and three planes land for the TransMedics operation. One brought the machine from San Ramon. The other one, they sent a surgeon in from Phoenix, and the other plane brought in an OCS specialist, their technician, to operate the machine from San Diego. It is crazy what they’re doing. I don’t understand.” — Executive at a leading West Coast OPO, longtime industry veteran"

"“...just how unqualified the people are that are running their devices...those should be nurses...they’re not even people from the operating room, which puts everybody in a pinch....these people are coming in and they don’t know...the other teams...have to help them...they’re clearly not prepared...one of my co-workers who is not qualified in any way, shape, or form...she’s still working for TransMedics...she’s not qualified to be pulling or pushing medications.” — Organ procurement technician at a high volume Northwest academic transplant center"

"“I would say that many of my patients are on Facebook groups and so on...they've been excited for it...they've been wanting to start it as soon as it was released” — Pediatric endocrinologist, leads one of the largest PWS clinics in US with 30-40 patients; 11 endocrinologists, major academic center. “I didn't attend any of the Vykat sessions.. I didn't personally talk to anybody about Vykat at the conference...” — Pediatric endocrinologist, leads one of the largest PWS clinics in US with 30-40 patients; 11 endocrinologists, major academic center."

"But as you skew younger, you're going to have guys that are more interested in less invasive procedures. You're also have on the whole smaller prostates, and smaller prostates in general are better fits for minimally invasive procedures than something like Procept. The big, big value of Procept is in larger prostates. They may tell you different, but the reality is that that's where Procept really shines... But I think Procept will struggle in the younger guys, smaller prostates. — Spruce Point Interview with Private Practice Urologist, Dec 2024"

"I announced Operation Bear Hug. Each of the fifty members of the senior management team was to visit a minimum of five of our biggest customers during the next three months. The executives were to listen, to show the customer that we cared, and to implement holding action as appropriate. Each of their direct reports (a total of more than 200 executives) was to do the same. For each Bear Hug visit, I asked that a one- to two-page report be sent to me and anyone else who could solve that customer's problems — Lou Gerstner, CEO of IBM (1993 – 2002)"

"“...Looking at our pipeline, we are seeing stronger demand for 6-figure enterprise deals, and we expect to see solid year-over-year growth in our large deal counts in the third quarter.....” “...we are seeing healthy pipeline and do expect to deliver solid growth in terms of those 6-figure deal counts in the third quarter and really seeing that strength across all of the categories of deals that we talk about...we have been able to drive much more predictable kind of forecasts and pipeline management.” — CFO Dylan Smith, Q2 FY2021 Earnings Call"

""Our gross administrative fees will grow at a faster rate than net admin fees, as we forecast increases in our revenue share obligation due to renewal pricing, shift of fixed fee to shareback agreements, and the impact of performance related fees on the percentage of shareback." — Mike Nolte, COO, MedAssets; "I know we have discussed this in the past, but we do see continued pressure, as we said, in the 100-basis-point to 200-basis-point range for the revenue share obligation -- that's an industry trend." — Haley Wise, Chairman & CEO, MedAssets"

"“Nelson Peltz seeks to understand other points of view as much as he seeks to be heard. He is an active listener. Having been a CEO, Nelson also has a healthy respect for the difficulties and challenges of leading large public companies...Nelson is collaborative by nature – he is always searching for the best ideas. That makes him a great change agent.” — Dennis Reilley, Former Chairman and CEO, Praxair, Inc., current Chairman of Marathon Oil Corporation, and Director of Dow Chemical Company and Covidien Ltd., and current Trian Advisory Partner"

"Nelson Peltz and I served together on the Heinz board beginning in 2006 and have remained in touch since the company was sold in 2013. Nelson was an insightful and constructive presence on the Heinz board. He approached board and management relationships professionally and collegially. Nelson, in concert with other members of the Heinz board, made excellent strategic and operational recommendations and decisions which helped move Heinz forward. — Charles E. Bunch, Chairman and CEO, PPG Industries, Inc., and former Director of H.J. Heinz Company"

""The danger of diazoxide in the neonatal intensive care unit" — Desai et al, 2021. "...three of eight patients received diuretics throughout the period of time that they developed respiratory deterioration and fluid overload"; "however, they did not show any signs of improvement until the diazoxide was discontinued." — Desai et al, 2021. "been working a month now to get the fluid off with Lasix and pt." — Report #3. "Development of Pulmonary Hypertension During Treatment with Diazoxide: A Case Series and Literature Review" — Timlin et al, 2017."

""Nelson Peltz seeks to understand other points of view as much as he seeks to be heard. He is an active listener. Having been a CEO, Nelson also has a healthy respect for the difficulties and challenges of leading large public companies...Nelson is collaborative by nature – he is always searching for the best ideas. That makes him a great change agent." — Dennis Reilley, Former Chairman and CEO, Praxair, Inc., current Chairman of Marathon Oil Corporation, and Director of Dow Chemical Company and Covidien Ltd., and current Trian Advisory Partner"

"Nelson Peltz and I served together on the Heinz board beginning in 2006 and have remained in touch since the company was sold in 2013. Nelson was an insightful and constructive presence on the Heinz board. He approached board and management relationships professionally and collegially. Nelson, in concert with other members of the Heinz board, made excellent strategic and operational recommendations and decisions which helped move Heinz forward. — Charles E. Bunch, Chairman and CEO, PPG Industries, Inc., and former Director of H.J. Heinz Company"

"“Nelson Peltz seeks to understand other points of view as much as he seeks to be heard. He is an active listener. Having been a CEO, Nelson also has a healthy respect for the difficulties and challenges of leading large public companies...Nelson is collaborative by nature – he is always searching for the best ideas. That makes him a great change agent.” — Dennis Reilley, Former Chairman and CEO, Praxair, Inc., current Chairman of Marathon Oil Corporation, and Director of Dow Chemical Company and Covidien Ltd., and current Trian Advisory Partner"

"Nelson Peltz and I served together on the Heinz board beginning in 2006 and have remained in touch since the company was sold in 2013. Nelson was an insightful and constructive presence on the Heinz board. He approached board and management relationships professionally and collegially. Nelson, in concert with other members of the Heinz board, made excellent strategic and operational recommendations and decisions which helped move Heinz forward. — Charles E. Bunch, Chairman and CEO, PPG Industries, Inc., and former Director of H.J. Heinz Company"

"“Supply path optimization (SPO) is a major focus for many marketers in 2020—but it's also an area of significant confusion.” — Blog; “Is Supply-Path Optimization successful? No, because it is only half the equation.” — Blog; “WTF is supply-path optimization?” — Blog; “Yes. Sure. So there's been several phases of programmatic advertising over the last 15 years of its inception... And we are clearly differentiated as that player that can do everything that's independent, that's scaled and feel really good about our path going forward.” — MGNI CEO"

"“I’ve consulted at length for Boston Scientific, Abbott, Nuvectra, and of course Nevro over the course of my career. I have been doing implants for 20 years. I’ve put in probably several thousand over the years and probably do about 5 or more per month. I actually am [role redacted] at [medical journal name redacted] which is kind of the bible for neuromodulation. I would review papers on stimulation every month as a peer-reviewer so I’m quite versed with the field.” — Ex-Nevro consultant/speaker and one of the most prominent KOL’s in the space"

"“As you know, we introduced you to a leading global retail consultant in July 2015. We understand that this consultant identified the opportunity to significantly enhance Deckers' operating profit through store rationalization and SG&A expense and COGS reductions. Inexplicably, the board declined to retain this consultant (or any other consultant of comparable reputation and quality) to pursue this path to create shareholder value. Management told us that it would be “too disruptive.”” — Red Mountain Capital (Top 10 Deckers Shareholder 12/5/16)"

"“I asked when I first started...’Oh, this is going to be an issue, bringing this stuff in...and they’re like, ‘It’s totally fine. Just do it.”; “you can’t bring that past a red line in the OR”; “you cannot do that, and I would never do that...but they wanted you to pass the red line”; “I’ve heard a lot of complaints about their people...touching things they shouldn’t...ruining a sterile field...if you keep upsetting the staff and the hospitals, they’re going to be like...we don’t want these visitors anymore.” — Former TransMedics OCS specialist"

""The company is on track to deliver top-tier earnings and revenue growth, with industry competitive margins - including ~400 basis points of operating ratio improvement during the second half of 2024." — Norfolk Southern press release (Mar. 20, 2024). "Norfolk Southern has brought on John Orr as COO to accelerate the execution of its strategy. John Orr is a PSR expert and comes to Norfolk Southern following a long and successful career at multiple railroads including Canadian National and CPKC." — Norfolk Southern press release (Mar. 20, 2024)."

""Given that the poison pill and unilateral bylaw amendments adopted by the Depomed board materially impact shareholder rights, shareholders should provide consent FOR the special meeting requests." — ISS, September 26, 2015; "[i]n this case, [Glass Lewis] believe[s] it would be in the best interests of [Depomed] shareholders to consent to the calling of the Removal and Bylaw Amendments Special Meeting and the Election Special Meeting so that the merits of the underlying issues can be more carefully evaluated." — Glass Lewis, September 28, 2015"

"“I think Twist took a lot of share in the beginning because of the fact that the market wasn't well-supported by IDT or Agilent. So, it's very easy to gain traction in the beginning. Nowadays, it's much harder to gain traction...so, it's much more competitive. There was an exponential curve of customer acquisition that I don't believe is continuing. if you look at their number of customers and you plot it on a graph, you could probably see a good plateau of NGS-specific customers within the last year.” — Former employee now at a key competitor"

""The $5bn deal is about funding, not AI growth" — Bank of America Global Research, August 8, 2024; "Lumen actually regretted selling fiber to us. I had conversations with two previous CEOs who both said they enabled us to compete with them and they wish they had never sold us fiber...For the past 20 years, Lumen has been very reluctant to sell fiber. I think now, based on their liquidity profile, they are selling that." — Dave Schaeffer, CEO Cogent Communications, Oppenheimer Technology, Internet, and Communications Conference, August 12, 2024"

"“When Nevro first started, if you look at the doctors in the forefront, true thought leaders, key opinion leaders, the white shoe reputable people - that’s not who they got. They brought in a bunch of guys - I wouldn’t say they were outcasts, but... it was like a Scientology thing. They did these retreats at some huge mansion, like crazy stuff...Nevro is not science. It’s a cult and I am blown away because every doctor I know that does a lot of implant volume doesn’t use Nevro except for a small cult.” — KOL, former high volume Nevro implanter"

"The other thing actually, to bring up sort of a negative point is you have to be really — a lot of these patients are on psychiatric drugs and other drugs, and it is quite complicated to — and I've asked them, Soleno. They've suggested some website to see interactions of Vykat with these other drugs, that's also a concern that patients that I'm seeing, the five patients that I picked are not on any other drugs as well. That is definitely somewhat of an obstacle as well. — Division Chief for pediatric endocrinology at a major NE academic center"

"We found that from 2012 to 2017, DOD testers routinely found mission-critical cyber vulnerabilities in nearly all weapon systems that were under development. Using relatively simple tools and techniques, testers were able to take control of these systems and largely operate undetected. In some cases, system operators were unable to effectively respond to the hacks. Furthermore, DOD does not know the full scale of its weapon system vulnerabilities because, for a number of reasons, tests were limited in scope and sophistication. — GAO Highlights"

"The company with the highest profits and the most repeat customers actually has high loyalty and uses almost no marketing fees in their business. This may be a bit idealistic, but if you have an intensively researched product that for example that once it’s out there can be used for a long time due to high loyalty, the marketing fees you need will actually be only very small. On the other hand, if you have a product that you can switch to another product immediately, then you need a lot of marketing fees. — President Yoshihiro Hasebe, 2023 AGM"

"“There’s so much that’s going on to be found out...do you know everything that’s going on with the OIG and DOJ and the IRS...it’s deeper than [the Washington Post]...here’s the drama...I recently interviewed with the Department of Justice, the OIG, and the IRS...and with the DOJ out of Washington and out of New York, in particular...and then the state attorney general...Medicare fraud...the most prominent attorney general that’s getting involved is Virginia....” — CEO of a major OPO (Organ Procurement Organization), longtime industry executive"

""too often motivated by short-term thinking, politicians have taken the easy way out, telling people the bits they want to hear, and not necessarily always the bits they need to hear", "can we be honest when the facts change, even if it's awkward? and can we put the long-term interests of our country before the short-term political needs of the moment, even if it means being controversial?" and finally urging for a "more honest debate about how we secure the country's long-term interest" — UK Prime Minister Rishi Sunak, 20th of September 2023"

"“I have zero confidence this team can get this right and certainly not in the timeframe that is needed. I rarely call for wholesale change at a company, but that is what is needed here.” — Top 10 Active Shareholder; “We have years of disdain from leadership, and that’s how labor has been treated... I mentioned the word disdain before and I’m going to say it again because that’s the only way that really we can describe how labor has been treated and SWAPA and our data-driven analysis has been treated. It’s been disregarded.” — SWAPA leadership"

""[Management] is unequaled in its efforts to put a positive spin on bad news by accentuating the positive and eliminating the negative.... [I]f free cash flow looks bad, it will redefine it.... [S]omeday we will write a treatise on the psychology of earnings reports and presentations. And Alcoa will be our case study.... I think Alcoa is one of the more blatant spin doctors.... [N]othing ever looks bad in management’s version of the world, where all the news is good news." — Carol Levenson, Director of Research for Gimme Credit, July 31, 2016"

"But more and more expanding into primary care is a big part of the strategy. And it's really encouraging what we're seeing. I believe it's better for patients, better for physicians, better for payers to bring Zio upstream earlier in the kind of the care pathway for patients. And it feels like everyone is supporting that...So cardiologists and electrophysiologists, which are generally the clinical champion when an account is initially opened, they are supporting this move up to primary care. — iRhythm CEO Blackford at BAML Conference, 5/13/25"

"“Actually, early on, it was substantial, especially for NGS. They made a really big splash, and I think that their low prices compelled a heck of a lot of even tightly regulated clinical labs to switch over to them. But, of course, you don’t necessarily recognize low consistency in the short term. You recognize that after multiple years. At least at the time that I left IDT, the team was having a substantial amount of success at winning back the customers that they had lost several years before.” — IDT ex-regional sales manager, left recently"

"“Despite the Investigation Team’s extensive review of documents and data provided by sources both within and outside the Company, the Investigation Team could not verify that the devices it collected and copied contained all responsive information at the time the copies were made. On many devices, the Investigation Team observed indications that some information might be missing, and the Company’s management and staff were unable to provide a credible explanation for what the Investigation Team observed.” — NQ Mobile Investigation Team report"

"Pyramid schemes are said to be inherently fraudulent because they must eventually collapse. See, e.g., S.E.C. v. International Loan Network, Inc., 968 F.2d 1304, 1309 (D.C.Cir.1992). Like chain letters, pyramid schemes may make money for those at the top of the chain or pyramid, but “must end up disappointing those at the bottom who can find no recruits.” In re Koscot Interplanetary, Inc., 86 F.T.C. 1106, 1181 (1975), aff'd mem. sub nom., Turner v. F.T.C., 580 F.2d 701 (D.C.Cir.1978). — Webster v. Omnitrition, 79 F.3d 776, 781 (9th Cir. 1996)"

"Pyramid schemes are said to be inherently fraudulent because they must eventually collapse. See, e.g., S.E.C. v. International Loan Network, Inc., 968 F.2d 1304, 1309 (D.C.Cir.1992). Like chain letters, pyramid schemes may make money for those at the top of the chain or pyramid, but “must end up disappointing those at the bottom who can find no recruits.” In re Koscot Interplanetary, Inc., 86 F.T.C. 1106, 1181 (1975), aff'd mem. sub nom., Turner v. F.T.C., 580 F.2d 701 (D.C.Cir.1978). — Webster v. Omnitrition, 79 F.3d 776, 781 (9th Cir. 1996)"

""The Financial Surveillance Department ("FinSurv") of the South African Reserve Bank, has initiated an engagement with Raging River Proprietary Limited ("Raging River, the Company or fellow Group subsidiary"), a fellow Group subsidiary incorporated in South Africa, regarding historical transactions involving the transfer of funds from the Company to foreign / non-South African resident entities within the Super Group (SGHC) Limited group structure, allegedly in breach of the South African Exchange Control Regulations." — H1 2025 6K Disclosure"

"It is important to note that, to our knowledge, this data is known to very few market participants: it is designed for and provided primarily to the health care industry. Our understanding is that it is known to few, if any, sell-side brokerage firms. It is also priced to a corporate end market and, as such, is likely too expensive for all but the largest of buy-side firms. We believe that the market is generally blind to this data, and that prices of Penumbra shares must adjust to reflect this powerful, credible, and compelling information."

"Oklo is quick to tout in investor presentations the “inherent” safety of its liquid sodium-cooled design, and it is true the technology possesses certain safety advantages, particularly in avoiding a meltdown. Sodium’s boiling point is higher than the reactor temperature, meaning the coolant cannot boil or vaporize and the system does not need to be pressurized. What Oklo neglects to mention is sodium reacts violently with water and burns if exposed to air, resulting in different but still complex safety, maintenance, and reliability issues."

"“Given current market trends, we expect that the demand environment will continue to be cyclical and that competitive dynamics will continue to pressure our CSG business.” — Dell Q2 2019FY 10Q. “There is a risk that Dell Technologies’ competitors may provide products that are less costly, perform better or include additional features that are not available with Dell Technologies’ products.” — Dell Q2 2019FY 10Q. “It's a tough market. It's a challenging market. It's a cyclical market.” — Dell CFO comments, Deutsche Bank Conference Sept, 2016."

"“Yeah. One of the frustrating-but-sort-of-good news, good news, bad news aspect for us is our rep productivity, the amount of the amount of new MRR that reps have sold has actually been quite good. So, as we've scaled up the sales force, that's one of the things that you worry about will just fall off a cliff.” — Chris McKee, General Counsel and EVP; “We see a lot of opportunity to continue to grow the scope and scale of the organization and maintain productivity rates which we think are industry leading in some respects.” — Rick Calder, CEO"

""...the presence of an activist investor suggests that shareholder friendly capital allocation focus could persist...Activist investor Starboard Value reported acquiring an 8.4% stake in Huntsman on September 28, 2021 and shortly thereafter publicly shared slides noting, among other things, "We believe there is a meaningful opportunity for margin improvement." As such, we think operational efficiency potential or portfolio management announcements are likely to remain top of mind over the near-to-medium term." — Morgan Stanley, November 2021"

""The Comedy Central deal symbolize[d] the different strategies – and prospects – of Viacom and AOL Time Warner." — Raymond Snoddy, The Times, April 23, 2003. "...TWX's last-minute effort raises some awkward questions about the earlier comments of Mr. Parsons about withdrawing from the deal. If buying MGM was too expensive, as he had said, how would he justify making an even higher offer later?" — Andrew Ross Sorkin, The New York Times, October 31, 2004. "the basic idea of a deal remains" — Mr. Parsons, Agence France-Presse, December 8, 2005."

"The credit agreement that supports our commercial paper program was amended and restated on May 24, 2019. The amendment increased the capacity of the revolving credit facility from $600.0 million to $1.0 billion and created a new term loan of $200.0 million. The credit agreement has an accordion feature that provides Cintas the ability to request increases to the borrowing commitments under either the revolving credit facility or the term loan of up to $250.0 million in the aggregate, subject to customary conditions — Cintas Corp. SEC Filing"

"“I can't speak to their outcomes overall. But I do know that there are members of the transplant community, myself included, have called for publication of the livers that are not used or the complications related to livers that have been on OCS pump, and they declined. TransMedics declined to publish that data. Like that is not being very honest...it's their responsibility to vet their surgeons and they should publish it and be forthcoming.” — Chief of transplant surgery at a major Los Angeles transplant center; high volume TransMedics user"

"Ending Q1 2011, there were 33 Patches that had above $2,000 per month in revenue. Ending Q4 2011, there were 401 Patches above $2,000 per month in revenue.... We arrived at our cost estimates for Patch of $160 million in 2011 based on the following statement by the Company's Chief Financial Officer at the AOL Investor Day on June 16, 2011: '... we're going to spend $160 million a year this year on Patch....' Further, in a research report published on May 10, 2012, Barclays estimated that Patch generated EBITDA losses of $151 million in 2011."

"“that kind of pressure...it really put pressure on the salesforce because it incentivizes them to go outside those boundaries – and all of them do it...so ridiculous is how they’re forcing reps to work outside the boundaries of compliance...and all of them do it.” — Ex-Harmony territory manager for a large region in the southeast across two states. “it makes no sense whatsoever...I don’t know what methodology they were using to figure that out...the numbers never matched up.” — Ex-Harmony territory manager for several states in the Northeast"

"In the jurisdictions where we sell and plan to sell our products, the commercial use of our passenger-grade AAVs, and in some cases our non-passenger-grade AAVs, is subject to an uncertain or lengthy approval process; we cannot predict when regulations will change, and any new regulations may impose onerous requirements and restrictions with which we, our AAVs and our potential customers may be unable to comply. As a result, we may be limited in, or completely restricted from, growing our business in the foreseeable future. — EHang 2019 20-F"

"Growing with our customers is a primary contributor to our growth story, as our customers grow their needs grow and their solution requirements change. They may be expanding from country to country, growing not only in one market, but many markets around the world” and “Importantly, it's still early days and we see a lot of white space in each of our verticals and our current geographies, as well as significant opportunity in our under penetrated geographies in LATAM, APAC, Africa, and the Middle East. — Nuvei Q2 and Q3 2021 Conference Call"

"“We showcased several innovative technologies at Labelexpo... The second innovation is Fasson Curve appeal, which will enable consumer packaged goods companies to label containers with complex curves, where today the only option is shrink sleeve.” — Former CEO and Chairman Dean Scarborough, Q3 2010 Conf Call. "The clearest threat to Avery has been the growth of shrink sleeves. It’s a container that’s fully decorated where the full bottle is covered by a plastic label and shrunk with heat." — 50 Year Pressure Sensitive Industry Label Expert."

"CTC's commercial paper rating could be downgraded to P-3 if a material weakening of liquidity occurs at any of its three business segments, if a material deterioration occurs in the bank's credit card portfolio quality or capital levels, if a deterioration in Retail market position occurs, reflected by sustained weakening of comparable sales and declining profitability or if it sustains consolidated adjusted Debt/EBITDA above 5x (4.8x for LTM Q1/2019) and EBIT/Interest below 4.5x (3.9x for LTM Q1/2019). — Moody's Rating Report, June 7, 2019"