Callouts & quotes from 10,384+ activist slides

"“The LifePort study is a really good example. These are centers; some were in the TransMedics trial, but they clearly jumped ship to be involved with LifePort...that’s the device that a lot of really big names in the field in liver really think is going to be very, very competitive with TransMedics” — Transplant surgeon, Director of a leading academic transplant center"

"“The consensus on hyper-local in the company is that, generally speaking, we have products that are sold nationwide; therefore, our communications efforts must effectively and efficiently reach that audience. Hyper-local typically sacrifices the latter for the former. Hyper-local just isn’t as efficient and would be too expensive.” — Digital marketing manager, May 2012"

"I agree with you 100%, and I agree with your take on Neil Cowen’s PK paper. I do believe it was slightly manipulated... Off-label, certainly people could use it...you’re completely right. If this is really such a good drug, people can use diazoxide and suspension exactly the same way for pennies on the dollar. — Ex-Soleno employee #1, key role in clinical trial program"

"“It’s like a horse pill. But what happens? I don’t know if you’ve ever seen Prader Willi patients, but you put something in their mouth what they do, they’re going to chew it and swallow it... I was concerned because the fourth most common cause of death, in Prader-Willi Syndrome is choking.” — Trial investigator and physician; one of the leading KOL’s in the PWS field"

"“oh, that's all done in China” — Warehouse manager (as reported by source). “...requires that transit buses acquired with federal public transportation funding undergo final assembly in the United States and that at least 65% of the cost be manufactured domestically. This threshold rises to 70% for buses delivered in FY2020 or later.” — Government report (August 2018)."

"We are very pleased to link the name Pramac Racing to Alma, I thank Luigi Scavone [Alma Group CEO] for the enthusiasm with which he joined our team. We are proud to have as title sponsor a group like Alma that perfectly understands the dynamics of the labour market, always looking for a constant growth in terms of professionalism and results. — Campinoti (Generac EVP)"

"TL;DR Pay your local dealership to do a PPI (pre-purchase inspection) during your return policy. It's worth it. /u/DougDeMuro would not be impressed with the bumper to bumper CarvanaCare warranty. They will tell you that it is the same as the manufacturer's warranty, but it is significantly worse. At least the return policy is good. I needed to use mine. — Reddit User"

""an average person applying for insurance" — Sabean court decision; "you may make additional premium payments at any time when this policy is in force" — Mosten-Manulife Contract; "We reserve the right to discontinue at any time any Investment Account except the Guaranteed Interest Account which We guarantee will always be available to You." — Mosten-Manulife Contract"

""As the SEC's order finds, by making misleading statements about order management practices, VMware deprived investors of important information about its financial performance," said Mark Cave, Associate Director in the Division of Enforcement. "Such conduct is incompatible with an issuer's disclosure obligations under the federal securities laws." — SEC Press Release"

""After the acquisition process, Tantan will maintain its separate sets of strategies and product development, operations, branding as well as business development under the leadership of their existing management, and we will be providing full support and expertise in areas including human resources, technology as well as monetization." — Tang Yan Q4 2017 Earning Call"

""He hasn't been convicted," she said of Amaya, a starter for Hartwick's Division I program since his MAC All-Star season as a freshman in 2007. "If he is found responsible, then he will be held accountable as far as our student code of conduct and appropriate action will be taken. If he's found responsible, we have sanctions and they will be imposed." — The Daily Star"

"I would say, it's hard to say, Liam. I mean, it will come down to what opportunities there are. We want to maximize value on for those -- for that stake. The lockup is until July 2. I don't think anyone should expect us out in the market selling these shares on July 3. We will work very closely with Bunge and Greg Heckman. He's running a great business. — Glencore CEO"

"How do you intend to hold your people? At some point, they'll all suffer from burn-out; you're buying up their companies – you put up some wallpaper and somehow they fall through the cracks – Philip has already addressed this issue. What is your culture; what is your belief; what is important to you, apart from being the biggest advertiser? — Gent. 1 from the audience"

"“half of us trained at CHOP, we use a lot of diazoxide, and I even asked that question like, can you just use your garden variety diazoxide...they explain it's extended-release...okay, but you can give it a couple of times a day... everybody in endocrine is really familiar with diazoxide for hyperinsulinism...so, trying to understand the difference” — Endourologist #4"

""in the other condition we use diazoxide for, pulmonary edema is a massive concern of ours...the main adverse event that I would be worried about with this drug and the potential for that...difficult to predict who will develop that...personally, I would always be ordering echos on any child before and during treatment." — Trial investigator, pediatric endocrinologist"

""lightly regulated, private investment funds that use unconventional investment strategies and tax shelters in an attempt to make extraordinary returns in any market...these factors have given them a secretive and shady aura in the financial community." — Investopedia; "The Sleaziest Show on Earth." — Forbes; "the largest fraud in SBA history." — SBA inspector general"

""In closing, I wanted to emphasize that our business model and philosophy regardless of short-term volatility, we'll remain laser-focused on operational excellence, capital discipline, long-term shareholder value creation, and returning that value to shareholders while fortifying our balance sheet by continuing debt reduction." — Former CEO Mark Little, July 29, 2021"

""This consortium is so named because we are equal partners with Thales on this project... So we expect it to be very much a 50-50 partnership." — CEO Lance, Q2 2018 Conference Call. "Industry officials familiar with Telesat's LEO bidding process have said the company is all but certain to request an equity investment on the part of its major suppliers" — Space Intel."

""We encounter errors, door jams, cells not penning properly, bubbles—all of these little issues. The cells are not penning into the chip properly, for example. In other words, there's always something, and at the end of the day, for the most part, we tend to only be able to screen binders and not so much functional assays in the instrument." — Pfizer senior scientist"

"“And picking -- the tuck-ins are easy. Those -- we were good at that, and we'll keep doing those tuck-ins. But when we're talking about multibillion-dollar deals, then making sure we pick the right companies. And our track record has been pretty good so far, and I think we'll continue to be a disciplined acquirer.” — CEO Lobo, Morgan Stanley Conference, Sept 13, 2021"

"BEKE claims that as its market share of home transactions through its platform grows, this ballooning GTV will produce network effects allowing BEKE greater pricing power for fees and commissions. Management referred to such network effects as creating a “self-reinforcing virtual cycle of efficiency and stack scalability…” — BEKE, Q1 2021 Earnings Call, May 19, 2021."

"I don't like Waleed or a lot of their upper management...he's doing the fake it 'til you make it thing...this goes to show you what a fuck-face he is...he's so disingenuous... their company, from a corporate culture point of view, is dishonest, to be blunt, and I think their claims are exaggerated. — Prominent surgeon, Director of a leading academic transplant center"

"“I’m telling you, that’s where the problem started two years ago and they said that we cannot ship...they are not shipping because it’s a liability...I definitely understand why because they are not shipping...because they have problems with the source...the customers are delaying orders.” — Former KLA executive in a leadership role in their EUV mask inspection group"

"“We in IR have been agitating,” he lamented, “for the production of a DVD introduction to the facilities there but to no avail. I hosted an investor—a shareholder—who had come all the way from Switzerland to visit. He was extremely unhappy about being unable to get a look inside Fab-4A or to even see a video presentation.” — Lasertec Investor Relations Representative"

""We'd like to see FCF funneled toward buybacks and not future franchisee acquisitions." — Brian Bittner, Oppenheimer, June 2016; "[W]e are less enthusiastic about Buffalo Wild Wings' emerging brand strategy of acquiring and growing other concepts....We are concerned Buffalo Wild Wings is bound to waste both time and capital" — Andrew Charles, Cowen & Co., April 2015"

""The investment from KKR is a strong vote of confidence in our vision, strategy, and continued efforts to increase growth and profitability. KKR is one of the world's leading technology investors with a deep understanding of our market and a proven track record of partnering successfully with companies to create value and drive growth." — CEO Aaron Levie, April 2021"

"Another question from Mr. Klein: Were any taxes connected with the acquisition and sale of shares - possibly all - by the Sambara Foundation incurred? If so, where were they paid for? After all, our company can't afford getting involved in a tax scandal. - We can't respond to this matter either as the company was not involved in this process. — Ströer AGM Transcript"

"We saw an accelerating trend of new users as we ramped up our awareness efforts during the second half of the year and pharmacy insurance coverage continued to increase including an emerging trend of seeing Libre granted preferred co-pay status versus competitive systems due to its compelling overall value proposition. — Abbott 4Q FY18 Conference Call (Jan 23, 2019)"

"“Against Engine’s ‘advice’ to not attempt a debt refinancing, and its hyperbolic posturing, the Company refinanced its debt on more favourable terms that materially reduced its debt service cashflows, staggered and extended its maturities, and saved the Company approximately CAD $20 million annualized in net interest costs.” — Dye & Durham Board (September 25, 2024)"

"I feel like it was the wrong decision to make. So when you're down in market share and you're down in volume because of competition, the last thing we need to do is take a price increase to try to, they're trying to make the revenue goals, but at the end of the day, you can't let volume erode to make your overall profit. — Former Monster Employee Familiar With Sales"

""[We] designed our mid-cycle methodology around the 2012-to-2019-time frame. You had cycles of strong margins and weak margins during that period of time." — Phillips 66 Investor Relations, March 14, 2024; "The biggest delta is in refining and well below mid-cycle refining environments baked into the '25, '26 outlook." — Phillips 66 CEO Mark Lashier, January 7, 2025"

""[We] designed our mid-cycle methodology around the 2012-to-2019 time frame. You had cycles of strong margins and weak margins during that period of time." — Phillips 66 Investor Relations, March 14, 2024; "The biggest delta is in refining and well below mid-cycle refining environments baked into the '25, '26 outlook." — Phillips 66 CEO Mark Lashier, January 7, 2025"

"「高開口数の極端紫外線が実現すれば、全てを短縮することが可能になります。KLAは5ナノメートル、3ナノメートル、2ナノメートルに関しては当社の193ナノメートル光学検査装置と8xxマルチビームマスク検査装置で十分対応できると思っています。そして、高開口数の極端紫外線が実現して、寸法が大幅に縮小してペリクルが一般化すれば、アクティニック検査装置を提供できます。この装置はもっと早くに実用化できたのですが、アクティニック装置は従来の装置と比べて一層複雑になるので、あえてこの道を選びました。時機を得た発売ができると確信しています。時間をかけてアクティニック技術開発を着実に進めてきました。高開口数の極端紫外線リソグラフィができるようになったら、私たちもそれに合う検査装置をご用意できると思っています」 — Ahmad Khan (KLA)"

"The fair value of the contingent value rights liability also increased during 2021 due to the achievement of a development milestone under the terms of the agreement with Merck, which is payable to the CVR holders, net of permitted deductions. This could result in potential milestone and royalty payments for the benefit of the CVR holders. — Chinook 2021 10-K, pg.78"

""The retail sale of Herbalife product is not profitable or is so insufficiently profitable that any retail sales tend only to mitigate the costs to participate in the Herbalife business opportunity." — FTC v. Herbalife International of America, Inc., et al. (July 15, 2016). Case No.2:16-cv-05217, Complaint for Permanent Injunction and Other Equitable Relief, at p.5."

""The retail sale of Herbalife product is not profitable or is so insufficiently profitable that any retail sales tend only to mitigate the costs to participate in the Herbalife business opportunity." — FTC v. Herbalife International of America, Inc., et al. (July 15, 2016). Case No.2:16-cv-05217, Complaint for Permanent Injunction and Other Equitable Relief, at p.5."

""There has been an internal debate within the IRS for a number of years about whether the agency should issue separate guidelines for solar transactions... is the tax equity investor a real partner with meaningful upside and downside risk of a business or is it a bare purchaser of tax benefits or a lender earning essentially a fixed return?" — Norton Rose Fulbright"

"In consideration of the Services provided under this Agreement, the Partner hereby grants to GS: 2.1 an exclusive worldwide right... to collect, use, store, distribute, publish, adapt, supply, sub-licence and/or exploit data and statistics (including live scoring data and historical scoring data) in respect of the Competitions listed in section 3 ("Official Data");"

""By positioning ourselves as a "one-stop" environmental services provider, we plan to leverage our diverse service offerings to unlock potential cross-selling opportunities across our business lines. As we execute on our growth strategies, we will continue to leverage our scalable capabilities to manage costs and drive higher operating margins." — GFL Environmental"

""With this return to normalcy, residential consumption has fallen back to its 2019 level and commercial consumption has risen to its prepandemic level as well. And as a reminder, historically in the water business, we typically see a natural decline of about 1% annually in water usage as customers change out older appliances and fixtures." — Year End 2021 Conf Call"

""the downside to Aquablation...is that it leaves a bloody mess inside the prostate when the water jets are done...There's no cautery or thermal effect, so there's no hemostasis. Every urologist has to go in there and basically open up a TURP set and transurethrally cauterize bleeders...You're adding costs." — Tegus Interview with Major Hospital Urologist, June 2024"

""The Authority's examination into Frontier's construction of its fiberoptic network, particularly with respect to underground installations in the public right-of-way, indicates that Frontier and its contractors have systematically failed to comply with applicable laws and, in doing so, have jeopardized the public safety." — CT Public Utilities Regulatory Authority"

"You see that very clearly in the mid and the downstream segment, but also in the upstream segment because there we are focusing on reducing costs as well as optimizing our asset base to get it lower on the cost curve. We have shown sustained improvement in productivity in all of the three groups and we intend to continue that. — Dr. Klaus Kleinfeld, October 9, 2012"

"Approximately 40% of the company's total workforce is located in low cost countries, including in China, India, Mexico, South East Asia, and Eastern Europe. Many of these employees are involved in assembly and manufacturing tasks, particularly in China and Mexico. Almost all of our employees in the United States, Canada, and China are employed full-time. — proxy st"

"Let me put it this way, they're not referenceable either; I can even share that. They're not happy, and they're not referenceable. One of their scorecard results, at the bottom, is a checkbox. Would you want to be a reference, a user reference? And they said "no." That was one thing that Berkeley Lights was the only vendor that actually stood out. — IQVIA executive"

"In closing, I wanted to emphasize that our business model and philosophy regardless of short-term volatility, we'll remain laser-focused on operational excellence, capital discipline, long-term shareholder value creation, and returning that value to shareholders while fortifying our balance sheet by continuing debt reduction. — Former CEO Mark Little, July 29, 2021"

"Auditing the Company's estimates of accrued receivables and the related accrued claims payable was complex and required significant judgment as the estimates were sensitive to changes in the significant assumptions, including management's assumptions regarding the lag between authorization date and service date, service changes and cancellations. — PGNY FY2021 10-K"

"Aerojet Rocketdyne is a world-recognized technology-based engineering and manufacturing company that develops and produces specialized propulsion systems, as well as armament systems. We develop and manufacture all four propulsion types (liquid, solid, air-breathing, and electric) for space, defense, civil and commercial applications. — Company Description Per 10-K"

""CLEAR makes the customer experience safer and easier, bringing predictability to the friction-filled airport experience. We are excited to continue our partnership with American Express. Together, we are committed to delivering the best experiences to our customers and members," said Kenneth Cornick, CLEAR’s President and Chief Financial Officer. — Kenneth Cornick"

"Number two, the TSA Digital ID solves a problem for the airline that CLEAR does not solve and that has nothing to do with the checkpoint. It has to do with the baggage check-in where the passenger's checking a bag with the airline. ... This is not something that CLEAR has been able to implement or do or support. — Spruce Point Interview With A Former CLEAR Employee"

"I don’t think there’s another option. That’s what you have to do. — UCSF administrator; They increased their revenue in liver in 2023 by pushing every liver program not to use their OCS system as an a la carte item, but as part of their NOP program. We’ve pushed back saying we don’t need your surgeon and we don’t need your aviation company. — USC transplant surgeon"

"“turned out to be more trouble than it was worth” and that it “can set off hERG activity, which can (in some cases) lead to hearth rhythm problems, which can (in pretty much all cases) lead to your drug wiping out. And maybe taking you with it....” – “everyone would be worried about what might happen when the stuff hit the general population.” — Science (blog post)"

"“potent inhibitor of CYP2D6 and hERG” — Raddatz et al. “our laboratory findings suggest that CYP2D6 inhibition...would likely be important hurdles for this novel compound” — Abbott scientists. “in vitro profiling in our laboratory (and others) suggests that BF2.639 [pitolisant] has both a CYP2D6 liability...and potent hERG channel K+ blockade.” — Evotec scientists."

"Investigator: Is this the Shenzhen Kuayu Sporting Good Company? You do ANTA’s brands right? If we would like to become a franchisee is that alright? SZKY: We don’t do franchises. Investigator: How about as an agent? SZKY: We don’t. Investigator: So you are like… like… SZKY: We are self-operated. (直营) Investigator: So you are self-operated, not an agent? SZKY: Right"

"I don’t like the Transmedics people that much...a lot of people are very pissed off with the company...because they are acting too greedy and predatory. I really support that letter from that Congressman. Again, a lot of people in different transplant centers are very pissed off with the company.... I can tell you, I hate the CEO. — Transplant surgeon at Vanderbilt"

"“How many of you would like to make at least a million dollars a year in income?” — Herbalife Distributor Pitch; “Be your own boss.” — Herbalife Distributor Pitch; “The opportunity to earn more than you ever thought possible and make your dreams come true!” — Herbalife Distributor Pitch; “We went from bankruptcy to being set for life!” — Herbalife Distributor Pitch"

"HLF CEO Michael Johnson: “The FTC settlement is an acknowledgment that our business model is sound” — Herbalife. Carl Icahn: “The FTC settlement announced today, coming after a two-year investigation also concluded that Herbalife is not a pyramid scheme” — Carl Icahn. “I do not endorse that statement [referencing Icahn’s statement].” — FTC Chairwoman Edith Ramirez."

"ATTR-ACT Showed that Tafamidis Significantly Reduced the Combination of All-cause Mortality and Cardiovascular-related Hospitalizations Data Showed a 30% Reduction in the Risk of Mortality and 32% Reduction in the Rate of Cardiovascular-related Hospitalizations with Tafamidis in People with Transthyretin Amyloid Cardiomyopathy versus Placebo — Pfizer Press Release"

"urges the Company to set and disclose individual caps on its short-term incentive plan so as to assure shareholders that executive pay will always be constrained by stated limits. — Glass Lewis; runs contrary to best practices and shareholder interests, as management may receive excessive compensation that is not strictly tied to Company Performance. — Glass Lewis"

""Each black dot in the chart represents an automotive securitization market transaction completed in 2018. The black line is the best-fit line of the individual transactions in the chart. The blue line represents the historical and current best estimates of future performance for all loans originated on Carvana's website." — November 2018 Investor Day Presentation"