Callouts & quotes from 26,677+ activist slides

"Base case within three years is a ~3x return"

"It is tantamount to an admission of failure."

"~100m or 20% of accounts purged as worthless"

"Is There Really Something New Under The Sun?"

"Innovation is part of the DNA of the company"

"HK’s Inflation Problem Will Likely Get Worse"

"It is a classical chicken and egg situation."

"Kao is overly reliant on the domestic market"

"Kao’s management are simply not even trying."

"Which is it – lottery ticket or opportunity?"

"Revenue Growth Opportunity: Low Double-Digit"

"EBT margins have declined ~480bps since 2006"

"IR Shareholder Returns Outperform The Market"

"Heinz Shareholder Returns Led the Peer Group"

"Each has 25 clients = TOT. $390,000 in Sales"

"Heinz Shareholder Returns Led the Peer Group"

"IR Shareholder Returns Outperform The Market"

"PPG's two closest peers have leverage of ~4x"

"Jim Vena quickly turned around Union Pacific"

"Chipotle has a long runway for robust growth"

"We view this as a negative for its business."

"IR Shareholder Returns Outperform The Market"

"Heinz Shareholder Returns Led the Peer Group"

"不正の中心には、収入と利益の誇大計上と、それにともない不適切に計上した棚卸資産高がある。"

"「そのとおりです。問題がなければ、彼はためらいなく工場の諸々についてしゃべったはずです」"

"Fab 4Aに入っていく装置は保護用のシュリンクラップに密閉されており、完成品と見える。"

"Casi parecía como si fuera un culto (RISAS)."

"Sounds exactly like Vocera’s core competency"

"HGV is materially undervalued and overpaying"

"Mike Ullman replaced Questrom as CEO in 2005"

"It will roughly double Teck's mix of Copper."

"Alarmist and/or Questionable Medical Content"

"Red Alert. Where there's smoke, there's fire"

"The Board must objectively evaluate the CEO."

"Promoting customers to switch to store brand"

"Headcount Growth Slower Than Bookings Growth"

"The fine print now says "Net" Cost Synergies"

"The vast majority of distributors lose money"

"花王のキュレルやフリープラスは粗末な棚スペースに、サイネージすら無い状態で陳列されている"

"No open market purchases in the last 5 years"

"Radovan Vitek’s Ship Has (Literally) Come In"

"YOUR VOTE MATTERS HELP TRANSFORM PHILLIPS 66"

"Planned Actions Reduce Diesel Usage by 18.2%"

"Faster turn times reduce active cars online."

"12.0 percentage points EBIT margin expansion"

"Management’s actions contradict their words."

"We do not believe Patch is a viable business"

"Only One Analyst Recommends Buying the Stock"

"His channel is as predictable as it is dull."

"Vote the GOLD card to stop rewarding failure"

"The vast majority of distributors lose money"

"We believe its value today is close to zero."

"Large reimbursement, overpayment (potential)"

"We believe its value today is close to zero."

"GreenPower buses aren't commercially viable."

"Okay. Hope the masseuse is very sexy, right?"

"HLF’s operating results deteriorated in 2015"

"Other categories structurally disadvantaged"

"Fastest EBITDA Growth within its peer group"

"Trading Price Estimate July 31, 2013 $44.57"