Callouts & quotes from 26,677+ activist slides

"Spruce Point is concerned that Remitly may be managing earnings and/or experiencing troubles with its fraud loss models."

"We therefore struggle to understand how a company making such a low technology product could manage to be so profitable."

"Beginning in Q1 2019, PSH initiated a quarterly dividend of $0.10 per share, a 2.0% yield at the current PSH share price"

"MDLZ’s share price including dividends has increased 18% from our average cost at announcement date to January 20, 2017*"

"This now opens the door for Avery to delay restructuring charges and liabilities to inflate near term financial results."

"Campfire's website removed FIGS from its portfolio after the Tulco investment, well before it ever become the next LULU."

"In addition to revenue figures, FIGS management made several apparently false statements regarding key business metrics."

"Some of Generac’s equipment emits carbon monoxide, which can be harmful and cause death if inhaled in confined quarters."

"There is nothing in his biography about having any experience working in the U.S. or understanding EV battery recycling."

"The cash flow generating capacity is just not there, and we caution “don’t believe everything you hear from management.”"

"Investors should be concerned that an XPO employee is signing business filings for the candy business of its CEO's wife."

"Deliver improved revenue growth and achieve best-in-class EBITDA margins of up to 60% to 70% in the medium to long-term."

"Transparency is everything. Tell us as well what's going on with respect to the analysis that Mr. Müller has undertaken."

"A potential management fee reduction to 24% would reduce annual EPS estimates by about $2.00 just on this measure alone."

"Employer Services is materially underperforming and should achieve 35% or greater margins by FY 2022 if properly managed"

"Employer Services is materially underperforming and should achieve 35% or greater margins by FY 2022 if properly managed"

"Implementations are labor intensive and generally siloed by product – the current structure precludes operating leverage"

"In fact, no director or member of senior management has purchased a single share of stock in the open market since 2013."

"Is Canadian Tire's Chairwoman paying the same amount of attention to Canadian Tire's activities as she did to Hollinger?"

"... resulting in a destructive cycle of inaction which underpins Keisei’s persistent underperformance and undervaluation"

"They are now hoodwinking DVMT shareholders by offering the same shares, valued at $79.77, as currency to buy your stock."

"New leadership with a disciplined focus on operational excellence and returns on capital is desperately needed at Darden"

"Many casual dining brands (including Olive Garden in the past) have successfully implemented an alcoholic beverage focus"

"Frying too many items can also slow service and make it more difficult for the kitchen to properly time a table’s dishes"

"We continue to believe that a tax-efficient sale or merger is likely to be the best alternative for Darden shareholders."

"Family Dollar, like other dollar store retailers, has consistently grown SSS over the last decade even during recessions"

"We kindly ask BP’s Board to require Mrs. Daley to step down from BP’s Board (unless she resigns from BlackRock’s Board)."

"We've identified discrepancies in reported Titan Project acreage figures, G&A costs, total employees and capex accounts."

"Each of the companies is expected to see improvement in growth + profitability in 2023, largely due to margin expansion."

"GoDaddy is a high-quality, infrastructure-like business that should be able to generate best-in-class financial results."

"Assuming that a contract did exist, this number contradicts the 1,892 cited by CCME, Chairman Cheng, and the Luo Report."

"We question whether this board has sufficient expertise to advise management on running a retail and credit card company"

"HHH Services Agreement advisory fee is in-line with non-traded private equity vehicles with no additional servicing fees"

"In 3 of the last 5 years, John Hess has ranked in the Top 25 Highest Paid CEOs... despite underperforming peers by (55%)"

"To evaluate Valeant’s business performance, we believe one first needs to translate GAAP earnings into economic earnings"

"These non-cash charges are required by GAAP purchase accounting, but do not reflect a loss of economic value for Valeant"

"To carry out a development constituting an NSI Project, without a development consent, is a criminal offence (s.160(1))."

"We add these three groups together to estimate the amount of swaps terminating in 2024, and the result is $16.0 billion."

"Neither Kurdistan nor France are in the “focus areas” and are being drilled at 80% and 85% working interest respectively"

"Our independent and highly qualified nominees can help drive the Company's commitments to animal welfare and ESG matters"

"For 2021, total Chief Executive Officer compensation was an astounding 2,251x the average employee's total compensation."

"Spruce Point believes there is a reason behind BOOT no longer referencing itself as a "Dominant Player In The Industry.""

"New leadership with a disciplined focus on operational excellence and returns on capital is desperately needed at Darden"

"Many casual dining brands (including Olive Garden in the past) have successfully implemented an alcoholic beverage focus"

"Frying too many items can also slow service and make it more difficult for the kitchen to properly time a table’s dishes"

"We continue to believe that a tax-efficient sale or merger is likely to be the best alternative for Darden shareholders."

"The CFO talked about acquisitions being accretive to margins over-time, but the exact opposite appears to have occurred."

"GMCR's operating expenses as a percentage of sales fell even though GMCR added Van Houtte's high cost structure business"

"The financial crisis drove all of Elliott's quoted -69% TSR... Elliott gives no credit for value unlocked by separation."

"GGP will emerge as two separate companies: General Growth Properties (“PF GGP”) and General Growth Opportunities (“GGO”)"

"The disposition of Special Consideration Properties (SCPs) and GGO assets materially enhances PF GGP’s operating metrics"

"At no time did we, or the company for which we performed due diligence, make a proposal to ONP for compensated research."

"We do not believe the regulatory failures of the past three years should be a survivable event for Blackford and others."

"The Engine slate has a plan that, if successfully executed, could triple DND's share price and reach $46 in three years."

"We Believe DND’s New Nominees Lack the Industry Expertise and Independence Necessary to Effectively Overseer the Company"

"Given the substantial entanglements detailed above, we believe that Modular Concepts is a de facto Related Party of NMC."

"In our experience, low interest income relative to reported cash balances is a significant indicator of overstated cash."

"It’s possible they deregister one and re-established another one, because of tax arrangement. Anchi, it is a subsidiary."

"SREC revenue has declined in the first half of 2020 and is beginning to contribute a smaller percentage of total revenue"

"Vote the GOLD card FOR Elliott’s qualified Board nominees and proposal calling for annual elections for all Board seats."