Callouts & quotes from 10,384+ activist slides

"RSK's ambitious M&A-fuelled strategy has helped the Cheshire-headquartered firm to become "the UK's largest, privately-owned environmental consultancy and one of Europe's fastest-growing companies", it claims. — RSK Press Release"

"The biggest issue for Phillips... is that they are not at all focused on creating shareholder value. They are focused on status quo. — Phillips 66 Shareholder, in Elliott-commissioned third-party survey of institutional investors"

"「私が聞いたところによれば、ASML製の極端紫外線露光装置5台につき、約一台のレーザーテックの装置が必要だとのこと。インテルは極端紫外線関連の製造装置を2019年から購入し始めて、所有台数は同年に12台、2020年に14台、2021年に17台、2022年に22台と増えました。その5台につき、レーザーテック製の装置を1台持っています」 — サムスンで極端紫外線事業の担当としてレーザーテックと密接な関係を持ち、検査装置の購買について決定権を握っていた、元幹部"

"In the case of completed product, we are dealing with the customer to clean up the inventory. For components, customers would often subsequently receive discounts on components (with 10% to 15% discounts not uncommon). — Source C"

"Closed sales represent an estimate of the expected annual recurring fee revenues for new client contracts that were signed by Broadridge in the current reporting period. — Broadridge Financial Solutions, Inc. 2021 Proxy Statement"

""In our experience, boards are most effective at overseeing and advising management when there is a senior, independent board leader." — BlackRock Investment Stewardship, Proxy voting guidelines for U.S. securities - January 2024"

"value proposition was not there — Lonza scientist; not a good investment — Samsung Biologics ex-lead scientist; would not feel comfortable — Chan Zuckerberg Biohub scientist; machine fails in 90% of experiments — Anonymous expert"

"For the year ended December 31, 2022, we recognized revenue of $4.2 million under the China License Agreement for costs reimbursed related to opt-in global studies and manufacturing and supply services. — Chinook 2022 10K, pg.114"

"We continue to execute our innovation strategy, including making acquisitions that expand our self-service portfolio, accelerate Verint's cloud and automation capabilities, and are accretive to earnings. — Dan Bodner, CEO, Verint"

""They have a reputation of excessive billing and their excessive billing, which is not tied to a weekly amount. It's back tied to just what you started asking about the contracts, and the things of that nature." — Industry Expert"

"…you should take into consideration the run rate increase in Patch expenses as compared to the approximately $75 million we spent in 2010… we’re going to spend $160 million a year this year on Patch… — AOL Chief Financial Officer"

""I think there might be three of the original field reimbursement managers there... Out of 15... For the same reason, just the pressure from—the salespeople would understand." — Ex-field reimbursement manager working with Harmony"

"“Mafia business.” — TripAdvisor guest regarding Fairmont Copley Plaza. “at around 2am to be greeted by a gaggle of unnecessarily unattractive hookers causing a fracas in the lobby.” — TripAdvisor guest regarding Ibis Northampton."

"Sales consideration for other divestitures in 2009 included SEK 724 million for certain pre-emptive rights sold in connection with the privatization of Azertel Telekom B.M. in Azerbaijan. — TeliaSonera 2009 Annual Report, page 63"

"Fletcher's master hedge fund, Fletcher International, which filed for bankruptcy protection in June 2012, was a fraud with "many of the characteristics of a Ponzi scheme," according to a bombshell report. — NY Post, Nov 28, 2013"

"“The permits are in process, the state, the county, the federal government, the city, have been nothing but supportive of us, and it’s all going well, you’ll see more press, it’s on us and we’re at the end of it” — CEO Interview"

"“McDonald's is using our size and global reach to improve animal health and welfare in the McDonald's supply chain and ensure we source chicken, eggs, beef and pork from producers who share our commitments” — McDonald's' Website"

"The single-procedure efficacy of a catheter ablation aided only by real-time mapping matches the double-procedure efficacy of Convergent, and the double-procedure efficacy using AcQMap is a vast improvement. — Kerrisdale Capital"

""These are very unusual times and we are aware that we may need to do things differently," Ridge said — Garry Ridge. "Fiscal 2008 can be characterized as the best of times and the worst of times," said Garry Ridge — Garry Ridge."

"In addition, we have strategic alliances with leading hardware infrastructure providers to deliver our software optimized for their technology. These partners include Hewlett Packard Enterprise and Intel. — C3 10-K Annual Report"

""TWX's advanced broadband delivery systems are expected to provide an important distribution platform for AOL's interactive services, which is expected to result in incremental subscriber growth." — The Board of Time Warner Inc."

"“Sitting across the table at an OEM from [Peanut Butter] right now, it is almost dangerous [from a career perspective] for me NOT to award the business to [Peanut Butter].” — Senior Industry Consultant with 20+ Years’ Experience"

"“reap the fruits from their acts and doings without incurring such liabilities as attach thereto.” — Goodman, 244 F.2d at 592 (quoting International Art Co. v. FTC, 109 F.2d 393, 396 (7th Cir.), cert denied 310 U.S. 632 (1940))."

"「最大の問題は光源です。TSMCの生産ラインにおいては、生産性に関しても経済性に関してもKLA製のほうがレーザーテック製よりも性能がいいでしょう。だから、TSMCにおけるこの関連の商売の約3分の2がすでにレーザーテックからKLAに移行している、と私は見ています。レーザーテックのTSMCにおけるシェアは減少しづづけている、と言わざるをえません」 — TSMCの元幹部で長年購買の責任者を務め、同社へレーザーテック製の検査装置の導入を担当した人物、現大学教員"

""The Board has fiduciary obligation to engage with any legitimate person that comes forward with a good offer. The Board will always do its fiduciary obligations when something like that occurs." — Maynard Webb, December 9, 2015"

""The oxygen therapy market in the USA, it’s three to four million oxygen patients. The growth is rather robust at 7% to 10% net growth annually." — Scott Wilkinson, INGN CEO, at the Stifel Healthcare Conference in November 2018."

"“Now having said that ...The retail market for POCs will be much smaller. It won't be zero. People will still pay money – some people will still pay money for a better product.” — Piper Jaffray Health Care Conference, 11/29/2018"

"We continued our long track record of retaining 98% of existing client recurring revenue, and internal growth contributed 2 points of growth driven by higher trading volumes in our GTO segment. — Broadridge Q2 2021 Earnings Call"

"“desire to investigate wrongdoing or mismanagement is a ‘proper purpose’” — Seinfeld v. Verizon Commc’n Inc., 909 A.2d 117, 121 (Del. 2006) (citing Nodana Petroleum Corp. v. State ex rel. Brennan, 123 A.2d 243, 246 (Del. 1956))."

"Their big success stories are projects like Cronos, but for every project like Cronos, there are nine others that don't make money, probably don't pay for themselves, and don't result in a final product. — Former strain engineer"

"“I’ve never seen a company in my life do that. Never. I’ve been in pharmaceuticals for 10 years...weird, right?...you look at that and – this is really weird, really odd.” — Ex-Harmony territory manager for a large Midwest state"

"At the closing under the foundry services agreement, Synlogic paid Ginkgo $30.0 million to Ginkgo for synthetic biology services to be provided over an initial period of five years which can be extended. — Synlogic Press Release"

"According to an official decision published on Feb 19, 2021 on the website of the Ministry of Industry and Information Technology of China (“China MIIT”), Moyi Shenzhen’s 2015 License is officially canceled (No. 68 on the list)."

"“Yes, you are right. Yes. It took time for this low-profit ACTIS to be accepted because we had to change parts and add resources, but I think it is safe to say that we have already gotten out of that situation.” — Okabayashi [A]"

"“That whole system of ejecting tin droplets and then shooting with a laser and directing it within the tool was probably the size of half a Mini-Cooper.” — Former Lasertec field service engineer who worked in the Intel mask shop"

"I would rate them as the worst-performing management team in airlines. This was a Company that has destroyed more value based on their own inaction than anyone else in the industry. They need to go. — Top Ten Active Shareholder"

"I would rate them as the worst-performing management team in airlines. This was a Company that has destroyed more value based on their own inaction than anyone else in the industry. They need to go. — Top Ten Active Shareholder"

"This defendant siphoned millions of dollars from Defense Department’s health insurance program, with little regard for whether its patients would actually benefit from the prescriptions he pushed. — U.S. Attorney Erin Nealy Cox"

"The bull case has conducted no forensic work to identify evidence to suggest accounting manipulation of restructuring charges to hit numbers, material adverse risks to its tax policies, or reasons why free cash flow is peaking."

"I would rate them as the worst-performing management team in airlines. This was a Company that has destroyed more value based on their own inaction than anyone else in the industry. They need to go. — Top Ten Active Shareholder"

"We think of the Best Response Analysis as akin to extrapolating that former Major League Baseball journeyman Mark Whiten should be inducted into the Hall of Fame based on the one game in which he hit four home runs and 12 RBIs."

"A recent June 2013 Jeffries report estimates that cable operators actually carry more consumer wireless data on their networks than mobile carriers, yet cable generates $0 directly attributable revenue from wireless. — Jeffries"

"“I don't think so.” — Xerox’s Chief Commercial Officer; “Fujifilm may have different interests [than yours]...and may make decisions adverse to your interests.” — Xerox 2017 10-K; “one company and one entity” — Xerox management"

"“There has been no change in the scope of the audit.” — Mr. Walton, Allied’s CEO. “the accountant does not function as an appraiser and is not expected to substitute his judgment for that of the company's directors.” — ASR 118."

""what we have seen in the German an auction [sic] which is the equivalent of EUR 25 per megawatt hour for the full lifetime of the project being the lease payment alone, I think that is not sustainable" — RWE CEO Markus Krebber"

""Norfolk has long been an underperforming self-help story that simply can't figure out how to help themselves." — Stifel; "We see value in potential management change with Jim Barber as CEO and Jamie Boychuk as COO." — Barclays"

"We determined that Ms. McIntosh's experience in the public education sector and her experience serving as an advisory board member qualify her to serve as an independent director on the Board. — PowerSchool 2023 Proxy Statement"

"This has been a great discussion. To keep that going, we invite you to learn more about how Verizon and Edgio are helping by visiting our website security page at Verizon.com. You can find that link at the bottom of this page.."

"We would remove product and preload trailer trucks to ship to retailers because we didn't have room on the floor. Then we'd load more product on trailer trucks to nowhere to move it off the floor. — Former GMCR / MBlock workers"

"It is unfortunate that a company as iconic as Disney and with so many challenges and opportunities has refused to seriously engage with us, its largest active shareowner, about board representation. — Nelson Peltz, Trian's CEO."

"Note: All sell-side analysts who do a NAV calculation either separate out Sales Finance in their EV-to-Equity bridge, or follow a P/E approach whereby net debt does not feature in the analysis(2) — Elliott Investment Management"

"“Ginkgo has just announced a commitment to buy 100 million base pairs of DNA from Twist Bioscience in 2016. By volume, this equals 10% of the global volume for gene synthesis in 2015.” — Barry Canton, Ginkgo Bioworks co-founder"

"「当初TOBの予告時点で、推定される公正価値は1株あたり約20,000円だった。過去6か月間で公正価値は上昇しており、我々は1株あたり25,000円以上になる可能性があると考えている。 [...] どのようにして新たな評価水準に至ったのかは依然として不明であり、特に市場ではそれよりかなり高い公正価値が広く見積もられているようだ [...]」 — Nicola Takada Wood, Asset Value Investors, 2026年1月16日"

"Purchase obligations include all legally binding contracts such as firm commitments for inventory purchases, container commitments, software and license commitments, and legally binding service contracts. — Company 10-K filings"

"Yes. So, the growth from the previous year to 2021, I think it was in the mid to upper 30s. No, that's not sustainable. However, I think what is sustainable is a low to mid-20s growth rate for TaskUs. — Fmr. Marketing Executive"

""With new addressable CTV products, enhanced VMP tool sets and those premium publisher inventory, we believe Telaria is in a strong position to capitalize on the upcoming political campaign season." — Telaria Pre-Merger Q3 2019"

""After Russia's full-scale invasion of Ukraine, we decided that it was better for our company to leave the Russian market. I also renounced my Russian citizenship," said Timur Turlov, CEO of Freedom Holding Corp. — Timur Turlov"

"BioCyc contains “curated data from 130,000 publications” and is a “collection of 19.534 Pathway Genome Databases (PGDB’s) for model eukaryotes and for thousands of microbes, plus software tools for exploring them.” — BioCyc.org"

""The addition of major features and menu expansions to existing platforms often requires between $1 million and $3 million of investment and one to two years of time to reach our markets." — Wilson at Investor Day November 2020"

"management believes that as of November 30, 2015, our internal control over financial reporting was not effective based on the Committee of Sponsoring Organizations of the Treadway Commission criteria. — Aerojet Rocketdyne 10-K"