Callouts & quotes from 37,061+ activist slides

"Хотел бы уточнить о возможности размещения четырех детей из ДНР и ЛНР в вашем отеле 22-27 марта 2026 г. для размещения их в семьи. Милые девочки возрастом 14-17 лет. Красотки! Трое - сироты, у еще одного ребенка где-то родители на Украине. У всех удочерение на финальном этапе, их уже ожидают семьи. С каждым ребенком будет сопровождающий в номере. Подскажите, пожалуйста, доступные варианты и цены. — Email sender"

"To expose the true nature of BlackRock's argument as entirely pretextual, Bluebell Capital Partners has informed BlackRock that it is prepared to withdraw our proposed to amend by-law, subject to the following condition: BlackRock must irrevocably commit to adopting a policy that mandates an independent board chair, effective BlackRock AGM 2025, with the announcement to be made to the market by April 15, 2024."

"To expose the true nature of BlackRock's argument as entirely pretextual, Bluebell Capital Partners has informed BlackRock that it is prepared to withdraw our proposed to amend by-law, subject to the following condition: BlackRock must irrevocably commit to adopting a policy that mandates an independent board chair, effective BlackRock AGM 2025, with the announcement to be made to the market by April 15, 2024."

"You're right...you're definitely right about that...you're definitely right about that...a lot of it's coming from — Soleno definitely has quite an involvement in this...and definitely a lot of it, I'm sure who's supporting the study people being supported by Soleno, they are communicating on the same message...maybe we are being naïve to rely on it...now I'm just — you're making me question a lot of things..."

""This is a market saturated with competition and regulation, the small players will not survive, so consolidation is a good move for the company." — SafeCharge CEO Avgi; "The acquisition is highly strategic and complementary to both businesses, aimed at accelerating the growth of the combined organization. It further strengthens Nuvei's payment technology and creates a truly global presence." — Nuvei CEO Fayer"

"“And obviously, the NFL situation over the course of the last couple of weeks is partly a function of that. And what was based on an assessment in terms of, okay, what is the value of that official status in terms of the exclusive access that we'll give you. And we took the view that against what the NFL were charging for that access. We didn't think it was commercially viable.” — Strategy Director, Sportradar"

"“The confusing part is that Chris Monroe himself has done this line of research before to know that the fidelity of photonic interconnects is not good, the speed of photonic interconnect is very slow, and this is going to be an obvious bottleneck, given that nothing substantially is being done about it, and the claims are being made. I don’t know what he’s thinking.” — Former senior scientific employee of IonQ"

"We are a leader in a large, fast-growing and underpenetrated market with significant tailwinds. Based on the Company Data Analysis, we estimate that the total addressable market for our core solutions was approximately $13 billion globally in 2020 and was less than 25% penetrated and is expected to grow to approximately $20 billion by 2025 with less than 50% penetration. — DoubleVerify Prospectus Sept 22, 2020"

"STJ seems quite proud of its “CTAC” – “Cyber Threat Action Center”. “CTAC’s mission is to identify, protect against, respond to, and enhance resiliency against cyber security threats. Learn how St. Jude Medical fulfills this mission by using threat intelligence to monitor for emerging threats against the healthcare industry and make informed verdicts on events in its SIEM.” — St. Jude Medical (via footnote 16)"

"「レーザーテック製の装置は同社のエンジニアにとってたいへんな負担になります。作動可能な状態を維持するのが困難だからです。また、ウシオにとっても光源に関していくつかの問題があります。故障しがちで、我々はその都度修理します。どうも、ACTIS製品はレーザーテックが開発で無理をしたような印象を受けます。無理やり開発させられたようで、どうも、彼らにとって不得意な分野に突入してしまったような感じです。顧客にとっても頭痛の種が多い。競合他社が同時期に極端紫外線のパターンマスク検査装置の開発に乗り出さなかったのは、レーザーテックにとって幸運です。と言うのも、ASMLはもとより、KLAもレーザーテックよりはるかにファブにおける強い地位を築いています」 — インテルのオレゴン州にあるファブに設置されているレーザーテック製のACTIS A150、そこに搭載されているウシオ製の光源の整備を担当するウシオのフィールド・サービス・エンジニア"

""We really don't feel like this is a pull-forward business. The business growth over the last 24 months is simply a highlight of existing trends." — J. Andrew Pierce, Group President of MedSurg & Neurotech. "So a majority of the opportunities that I was part of were for the existing client base and not new facilities because of so much volatility in the market in 2020." — Former Vocera Technology Professional."

""It is one service, I think it has the highest retention numbers of any of our service offerings. So we have proven to our customers over and over again that we provide a very effective mosquito service, but if there's still high skepticism, and I think it'll make up less than 2% of our business last year. It will be probably under $20 million in revenue or around $20 million of revenue." — CFO Cynkus, Q1 2014"

"Notwithstanding the detail in the approved plans set out in condition no.4, prior to the commencement [of development] of any above-ground structure, precise details of that structure shall be submitted to and approved in writing by the Local Planning Authority. The submission shall include the colours and finishes. The development shall be carried out in accordance with agreed details. — Planning Condition 12"

"2025: "Drilling briefly resumed at Stibium in October; however, deteriorating weather conditions required the rig to be shut down for the winter." — Nova Minerals. 2023: "An initial limited scout drilling program... was started at the Train prospect and paused early due to poor weather." — Nova Minerals. 2018: "Overburden conditions and late season weather prohibited further work this season." — Nova Minerals."

"For the first full transition flight, we chose to keep the aft propellers spinning at very low speeds (200-300 RPM) rather than initiating the 'stow routine' to stop them. Envelope expansion is a step-by-step process. In future flights we will exercise this functionality. You can think of this as being analogous to how, for conventional aircraft, the landing gear may not be retracted on a first flight. — AVweb"

"“I can tell you right off the bat...they haven’t taken any impairments against their balance sheet, so they’re probably over-valuing their inventory far greater than it’s actually worth...a lot of these companies are sitting on so much inventory....” — Marvell executive; “everybody is sitting on additional inventory...that's an issue across all 5-nanometer architecture.” — Senior employee at Marvell Technology"

"The image links to an October 2020 post by the CEO Pater Chapman on “our latest breakthrough.” In strong, unambiguous language declaring “the magnitude of this new quantum computer’s debut,” he states that he is “incredibly excited to unveil” the computer; a “very proud moment” that “signals a big cornerstone in the journey”; “the culmination of two decades of academic research”; and “a vital stepping stone.”"

"Using the Wayback Machine, we get a clearer picture of Nussey’s role at Descartes. He was intimately involved in financial planning, revenue analysis and working closely with the sales and finance organizations. In addition, he was responsible for optimizing the operational performance of the company. Furthermore, as a CA and CPA he should have been familiar with Descartes and its basic accounting principles."

"“We are investing in our data center infrastructure and Box consulting ahead of our customers' needs. We are also incurring excess real estate expenses as we prepare to move into our new Redwood City facility, temporarily paying rent on 2 locations. Once we complete this move in Q4, we will resume our gross margin trajectory upward in our long-term 75% to 80% range.” — CFO Dylan Smith, Q2 FY2016 Earnings Call"

"Darden remains behind the competition when it comes to implementing technology at restaurants. The use of tablets is no exception – none of the company’s brands currently have tablet technology...We think tabletop tablets with payment capabilities could help with long wait times, especially at Olive Garden where 90+ minute waits are common on Friday/Saturday evenings. — Janney Capital Markets, August 26, 2014"

""We believe the new BDC (ACAP) will have inferior returns relative to peers because it has lower asset yields and a higher cost structure. As a result we believe this investment will continue to trade at a deep discount to its book value" — KBW Research Note, November 9, 2015; "We apply an 80% book value multiple to the net assets of American Capital Income" — Cantor Fitzgerald Research Note, November 9, 2015"

"“We note that Alcoa acquired Firth Rixson in November 2014 for a purchase price of $2.85 billion, which compares to our estimated EBITDA exit rate for 2015 of $190 million. Alcoa thus far has not backed away from guidance of $1.6 billion in sales and $350 million in EBITDA for 2016; however, we believe these targets are not attainable and are modelling much lower growth rates.” — Credit Suisse, March 10, 2016"

""We think we're about structured correctly for how we see each one of these markets today...I think Fred and Hudson made the point, we did the restructuring for the spin in front, not after. So, we like the size of the organization today, in fact, you'll see a little bit of increase - no, not a little bit. You'll see some investment in the R&D side." — Greg Poling, CEO, GCP Applied Technologies (January 2016)"

""The video advertising market is massive but highly concentrated among the largest publishers and broadcasters," said Doron Gerstel, Perion's CEO. "Just as Shopify's platform enables thousands of stores to compete with Amazon and Walmart, Vidazoo empowers hundreds of video-hungry publishers with a simple, highly scalable, plug-and-play video solution." — Doron Gerstel, Perion CEO (Deal Press Release Oct 2021)"

"Purchase price allocations for 2021 acquisitions were based on preliminary valuations, primarily related to intangible assets, product liabilities and deferred income taxes. Our estimates and assumptions are subject to change within the measurement period. The purchase price allocations for Wright, OrthoSensor and other 2020 acquisitions were finalized in 2021 without material adjustments. — Stryker 2021 10-K"

"“RESOLVED, that stockholders request that the Board adopt an annual election policy for directors, requiring each incumbent director... to deliver to the Board a letter of resignation effective at the next annual meeting of stockholders...” — Phillips 66 Proxy Statement. “Elliott's lawsuit further exhibits its lack of transparency and preference for theatrics over engagement.” — Phillips 66's April 24 Letter."

"“two out of three DCD's never die in time”... “if that period of time exceeds 30 minutes...we just walk away from the donor.”... “deteriorates very quickly, almost exponentially” at 30 minutes...if you try to get an organ our and use it for 50 minutes, it’ll never work...it doesn’t matter what you put into it.” — One of the top liver transplant surgeons in the world, based at a leading Midwest academic center"

"“This is not good...this is not good at all” — Division Chief for pediatric endocrinology at a major NE academic center. “You’re absolutely right. I’m not a PK person, but if you’re telling me that there’s a similarity, it would make no sense to do it in a tablet — if you’re saying that the PK data is similar…you’re absolutely right.” — Division Chief for pediatric endocrinology at a major NE academic center."

"Direct Sales Regulations: A direct selling company may not “have the fee-paying or commodities purchase serve[ ] as the conditions for becoming a sales promoter.” (Art. 14.) — Direct Sales Regulations; Pyramid Sales Regulations: An organization may constitute a pyramid scheme if it requires recruits “to pay a certain fee for obtaining the qualification for participation.” (Art. 2.) — Pyramid Sales Regulations"

"We are conducting this election contest now during the pendency of the OfficeMax Merger because we strongly believe it is in all shareholders’ best interests to reconstitute the Board with new, highly qualified directors that have the requisite skill-sets and experience to dramatically improve the operations of the business and transform the Company for the future, whether as a stand-alone or merged company."

"AMR has an unusually high freight and handling cost. The reported costs match the reported revenues, which make it appear as if there is no net impact on its financial statements. However, AMR does absorb transportation costs, specifically to move the coal to the ports for the export market. Yet, plenty of its peers also export significant volumes abroad and don't report nearly as high freight costs per ton."

"Spruce Point believes there is significant downside to TASK's share price as the Company is overvalued on both its revenue and EBITDA multiple and should trade at best in-line with peer valuations, and at worse a material discount to reflect the numerous concerns we've documented in our report including substandard disclosures, and evidence of increased financial pressures with its largest customer Facebook."

"“Whole industry is shady as it gets but these guys are especially bad” — Kelly Scherr; “Outrageous fees most of which are higher than competitors” — DiFranco; “They lie, my bank hates them for that purpose” — Charity; “They are CROOKS! I have just audited my books. And found over $2,000 in extra fees they have slipped under my nose” — Todd Aimer; “I totally agree with stating they are CROOKS!” — Dawn Shearer"

"“...the strategic infrastructure we have in North Dakota, having control of that adds a lot of value... the Tioga Gas Plant...that’s not something we would be interested in MLPing.” — John Hess, November 2012; “...we need some historical performance there of cash flow, of the EBITDA, from these midstream assets, and as we get that... I expect the timing of the monetization is 2015.” — John Rielly, March 2013"

"“From the very start, they set themselves up as a lifestyle telemedicine platform.” — Spruce Point Interview With Former HIMS Physician; “...their customer is the 25 to 35 year old that drinks too much on the weekends and still wants to be able to perform. And I apologize because I know that really sounds tongue in cheek, but that is, that is the customer.” — Spruce Point Interview With Former HIMS Executive"

"It quickly died. There's got to be a compelling reason for an employer or insurer or anyone to enter into an agreement like that with a medical provider. And that reason, whether anyone wants to admit it or not, is how it impacts total cost of care...Just by the very nature of what HIMS does, it would only add cost. So I don't think that was ever realistic. — Spruce Point Interview With Former HIMS Executive"

"「はい。光源はふたつの電極間の放電によって発光します。そして、それらの電極をプロペラー、向き合っている扇風機のように捉えることができます。もうひとつ、油圧式ギアボックスのトルクコンバーターを思っていただければ、それも。とにかく、ふたつの扇風機があって、その間の空中に、溶けた錫のドーナツ状の溜まりが発生します。ふたつの電極が放電して、まるで稲妻のように、錫を発火させてプラズマに変質させます。そして、極端紫外線を集めて発光させる。しかし、出てくるのは極端紫外線だけでなくて、溶けた錫があっちこっち跳ねる、それが問題なのです。錫などの不純物を軽減させるための対策がありますが、十分には効きません。跳ねていく錫が全てにくっついて、光の流れの上流に発展していきます。汚すぎてどうしようもない。だから、レーザーテックでは、『Urashima』というプロジェクトにとりかかりました」 — KLAで極端紫外線マスク検査を担当した元幹部"

"Transactions between related parties are considered to be related party transactions even though they may not be given accounting recognition. For example, an entity may receive services from a related party without charge and not record receipt of the service. While not providing accounting or measurement guidance for such transactions, this Topic requires their disclosure nonetheless. — FASB ASC 850-10-5-5"

""The rates on the Operating Company leases were set with the intention that the public stockholders of New Prison Realty would receive as much of the benefit as possible from owning and operating the correctional and detention facilities.... In fact, the Operating Company lease rates were set so that Operating Company was projected to lose money for the first several years of its existence." — CXW 2002 10-K."

""It's not going to be easy for food and beverage companies to satisfy investors' appetite for growth... These companies need to buy sales growth by gobbling up smaller businesses that sell the healthy foods shoppers increasingly want." — Bloomberg, 2/18/16; "The highly competitive nature of food and beverage M&A over the past few years led to those soaring valuations in the first place." — Food Dive, 7/25/16"

"It is because Shopify and Square give free hardware. Lightspeed is going to have to change, and they are going to have to give away free hardware. They are still using printers that haven't changed in the last two and a half decades. When you look at the decrease in software ARPU and take into account the negative margin on the hardware, ARPU as a whole has dropped significantly. — Former Lightspeed Employee"

"“There are no plasma concentration curves to actually compare it meaningfully to preclinical data. I have never seen this before when researching any approved clinical agent... the lack of data in this regard is a huge red flag given that 2D6 is the primary p450 involved in the elimination of pitolisant – it’s hard to believe it was approved without this.” — Pharmacokinetic expert engaged by Scorpion Capital"

"The P66 folks need to focus on growing their base business. They've spent a lot of money in the last few years on acquisitions, on M&A deals that, depending upon what time frame you look at, many of them look like they're dilutive because P66 trades at such a low multiple. That low multiple is driven by their refining. They're priced as a refiner, not as a midstream company, not as a chemical company. — Mike"

"“We never understood why this lower growth, lower return (and lower multiple) business with undeniable long-term structural risks would enhance Disney’s asset mix or contribute to Disney’s DTC transformation. By allowing Comcast to prevail in the Sky bidding war, Disney avoided paying a massive premium for a business which is primarily a European DBS distributor” — Todd Juenger, Bernstein, September 24, 2018"

"The difference between Arconic and PCC has always been one of culture. PCC is relentless at operating the plants effectively and incentivizing its boots on the ground to drive efficiency. PCC is flat, tough, and hungry. Arconic (Alcoa EPS) has been plagued by bureaucracy and a fundamental disregard for the plant workers. That has to change not only for the Company to succeed, but for the Company to survive."

"“...The Company's Special Investigation Committee (the "Committee") today announced that based on the available bank account statements, the Company's bank balances were approximately: (i) USD$24,362,243 plus RMB801,756,757(USD$122,286,126) equal to USD$146,648,369 on March 31, 2011, and (ii) USD$23,221,331 plus RMB683,530,316(USD$105,409,872) equal to USD$128,631,203 on May 31, 2011.” — DGWIY Press Release"

"SandRidge claims TPG-Axon has "engaged in a false and misleading campaign and "consent solicitation" filled with half-truths and unsubstantiated statements regarding management, the Board and the Company. TPG-Axon has repeatedly made inflammatory and false statements with one simple goal – they want to distract you from the facts regarding SandRidge and its strategy for creating value..." — SandRidge Energy"

"I have very, very strong opinions about that. So we generally do a guideline based approach...there are very clear guidelines for when you operate...The very small group that doesn't start with pills are what we call an absolute indication for surgery: those who show up with a catheter because they can't pee...that's about 5% of our surgeries. — Spruce Point Interview with Major Hospital Urologist, Nov 2024"

"“Having said that, part of the reason we're moving our clients to common platforms is to eliminate costs that today are being really used to maintain old legacy platforms that aren't focused on innovation. So I think our need to invest more in R&D will be less if we have fewer platform so that we think that would be obvious.” — Carlos Rodriguez, Sanford C. Bernstein Strategic Decisions Conference (May 2013)"

"“When you’re making a fixed-length gene and they do 1.8 KB or something is their largest size, and if it’s an easy sequence, you sequence five and two of them are right. If it’s a complicated sequence, you sequence 15, and maybe none of them are right. So, your costs very quickly change since sequencing is a big driver of the cost there.” — Ex-employee in senior product management and sales leadership roles"

"CEO Demarco Q3'16: “At these estimated production levels, we believe the potential market opportunity for Gremlin type aircraft is in the high several hundreds of millions of dollars up into billions of dollars” — Eric DeMarco. CEO Eric DeMarco: “It is very competitive, I am sorry, I did not talk about it in the script and I am not talking about it anymore. It's focus time. So, I apologize.” — Eric DeMarco."

""They came in and they have a guarantee on if anything gets missed, they will cover the cost of that, and I use that service, and it's awesome. I'm also a company that doesn't have a lot of claims, I've had in the last 3 years, maybe 4 or 5 claims, and they've paid every one of them. And it just makes me look good, makes them look good. So that's been awesome." — Home Inspector User of Porch (Source: Tegus)"

""When it comes to securing market share in launch services, time is of the essence, and Astra is falling behind." — BofA Securities, Initiating Coverage: Underperform; "Astra is undersized, it's just too small. If they don't announce something larger, I don't know how they hang-on...the market really wants a one-ton launcher, Astra is half that." — Senior Manager, launch and mission management services firm"

"“If you are lucky enough to get a hold of someone from Motif, they are very spicy about Ginkgo. They did not have a good experience with them and separated themselves as completely from Ginkgo as they could at the earliest possible date. I've not been told any of the details. All I know is that the CEO of Motif is barely on speaking terms with the Ginkgo folks anymore…” — Director-level employee of Joyn Bio"

"Kibush Capital Corp. ("Kibush"), is a Nevada corporation with headquarters in Scottsdale, Arizona. Kibush's common stock is registered with the Commission pursuant to Section 12(g) of the Exchange Act, and the company files periodic reports with the Commission pursuant to Section 13(a) of the Exchange Act. Kibush's common stock is quoted on OTC Link. — SEC Charges Arthur Viola And Names Kibush Capital Corp."

"“we’re not in the business of transplanting people with 70-year old livers, like other places do. I know Methodist does a lot of older donors.” — Transplant hepatologist and director of the liver program at a Midwest academic center; “I’m surprised by it...having seen what they started with...I’m shocked that it has blown up into the program that it is.” — Transplant surgeon at a high volume academic center"

"“Vote AGAINST the Compensation Committee members for approving executive employment agreements that contain egregious pay practices and problematic pay-for-failure risks.” — ISS 2009 Report on Motorola; “Motorola’s executive compensation received an F grade.... Overall, the Company paid significantly more than its peers but performed significantly worse than its peers.” — Glass Lewis 2009 Report on Motorola"

""GreenPower integrates global suppliers for key components, such as Siemens or TM4 for the drive motors, Knorr for the brakes, ZF for the axles and Parker for the dash and control systems. This OEM platform allows GreenPower to meet the specifications of various operators while providing standard parts for ease of maintenance and accessibility for warranty requirements." — GreenPower IPO Prospectus (9/1/20)"

"No matter how many branches you open, it's charged as one school. For instance, if you ace our preliminary examination, reexamination, final examination and defense, and if we do decide to give you the authorization, your first school would always be the standard regardless of the number of branches. New Oriental always charges fees based on the size of the first school. — EDU (New Oriental Representative)"

"Gross margin was affected by product mix, including an increase in customer-funded R&D and early-stage programs. The inclusion of Themis, which has lower gross margins as well as an inventory step-up associated with the Themis purchase accounting. Germane will be dilutive to our gross margin and adjusted EBITDA margin in FY 2019, but accretive to fiscal 2019 adjusted EPS — CEO Aslett on Q4'18 Earnings Call"