Callouts & quotes from 10,384+ activist slides

"“Having that part of the discussion with her, she wasn't sanguine, but I think she was realistic, and said, this may help; it's not for everybody... I think she's aggressive and a little out there in regards to therapies.” — Pediatric endocrinologist, division chief at an academic center"

"The other large cap public midstream companies would all have an eye on Phillips 66’s midstream business if it were for sale. Given how underperforming the business has been, all the peers would know that $4 billion of EBITDA could easily be turned into $5 billion or more. — Michael Heim"

"On or around 1 October 2010, the Defendants used Ms Nazarbayeva’s Funds and/or caused her to make a loan to Harrison Varma in connection with the Buxmead Development (the “Buxmead Loan”). — Nazarbayeva v. Ishmuratov, Korotkov-Koganvocich, Particulars of Claim, 23-03-2016, HC-2016-000924."

"“If you don’t change, you die... If things change faster outside your company than they change inside your company, you’ve got something to worry about... What we’re talking about here is your future. If you don’t change, you won’t have one.” — Southwest Founder Herb Kelleher, March 2014"

""The custom at Imagineering has been to start the creative process with the boldest, wildest, best idea one can come up with. Many Imagineers consider this to be the true beginning of the design process and operate under the notion that if it can be dreamt, it can be built." — Wikipedia"

"(5) A project is “in development” when construction on the project has commenced. A project in “pre-development” has land-use entitlements but is still under internal evaluation or requires one or more additional permits prior to the commencement of construction. — Source: JOE 2007 10-K"

"“Our ability to adapt, evolve, and grow has generated a total return of 9,000% for our shareholders since our IPO in 1999. That is well in excess of the S&P 500 return of 490% and representative of a business model serving all our stakeholders” — CEO Larry Fink, 2024 Letter to investors"

"<A - Michael T. Sicoli>: Yeah. I would say the key is, when we think about M&A generally, there's a three-pronged approach... I do also want to put out we've just - sort of some late breaking news, while we're sitting here, we did just close the Interoute deal. So... — Michael T. Sicoli"

"“I still have many friends there, and the mood isn't so great”; “much harder to gain traction”; not having “much of an impact”; “having a substantial amount of success at winning back the customers”; “20 different companies developing different technologies.” — Competitors and Customers"

"The Dairy Division (UK) maintained its position as the largest manufacturer of branded cheese in the United Kingdom, mainly with its market-leading Cathedral City brand, as well as its position as a top manufacturer of dairy spreads with market-leading Clover brand. — 2021 Annual Report"

"Others have very limited success with the added value service model in Australia, and it is difficult to see why Agrium will do any better. And the house brand road is littered with casualties — Business Spectator, 10/3/10 (commenting upon Agrium's announced acquisition of AWB Landmark)"

"A Belgian court, which found Herbalife to be operating a pyramid scheme, dismissed the notion that distributors can be classified as customers — Test-Aankoop v. Herbalife International Belgium [Comm. Ct. Brussels], Nov. 23, 2011, AR 2004/7787, No. JC-DC/27 [Jee] (Belg.), slip op. at 11."

""Our ability to adapt, evolve, and grow has generated a total return of 9,000% for our shareholders since our IPO in 1999. That is well in excess of the S&P 500 return of 490% and representative of a business model serving all our stakeholders" — CEO Larry Fink, 2024 Letter to investors"

"[O]ur continued focus on worldwide crude oil related and large natural gas liquefaction projects, especially those related to the development of deepwater fields off West and East Africa, the eastern Mediterranean region and increased activity in the Gulf of Mexico. — CLB Annual Reports"

""Conventional numerical targets are easy to manage because the degree of achievement is clear, but I had long felt that they did not fit in with Kao's culture, which values the clash of different qualities and challenges that we have fostered." — President Hasebe, August 2021, Sentankyo"

"SKUs have doubled over the past 10 years. The reason was to increase sales... — Jefferies, September 1, 2023; There are too many SKUs, and I would say around 20% are not contributing to profitability or sales at all. — Former President, EMEA, Kao Corp., Interview with Oasis, August 2023"

"On July 16, 2007, DZH Limited acquired all of the issued and outstanding stock and ownership of HBOP and placed such shares in trust with Zhenyong Liu, Xiaodong Liu, and Shuangxi Zhao, pursuant to a trust agreement executed as of the same date. [emphasis added] — Orient Paper, Inc. 10-Q"

""Most of Zillow's clients feel that Zillow will become less important to their lead generation efforts in the next 1 to 2 years. 60% of Zillow's Premier Agent client surveys stated that the value of the product is declining, and 5% said it's improving." — CoStar CEO, Q3'23 Earnings Call"

"Licensing of intellectual property is of critical importance to our business. For example, we license patents (some of which are foundational patents) and other intellectual property from the University of Maryland and Duke University on an exclusive basis. — IonQ 10Q filing for Q3 2021"

"If you don't change, you die... If things change faster outside your company than they change inside your company, you've got something to worry about... What we're talking about here is your future. If you don't change, you won't have one. — Southwest Founder Herb Kelleher, March 2014"

""in the future, consistent with the Company's Corporate Governance Guidelines it is the Board of Director's intention to separate the positions of Chair and CEO and that the position of Chair shall be held by an independent director on the Board of Directors." — Office Depot 2011 Proxy"

""[the Procept rep and I] have coffee after the [procedure] and I'm like 'You selling any robots?', and what they said to me is, 'well, we're renting them out now.' Renting is slang. It could mean they're giving them away...That was nine months ago." — Major Hospital Urologist, Nov 2024"

"If you don't change, you die... If things change faster outside your company than they change inside your company, you've got something to worry about... What we're talking about here is your future. If you don't change, you won't have one. — Southwest Founder Herb Kelleher, March 2014"

"The tech reading the tracings is often incorrect. They will call "VT" when it is clearly aberrantly-conducted SVT. I've seen many bradycardic rhythms also described incorrectly. Clinical context also matters which non-clinicians are unable to integrate. — Cardiologist Survey Respondent"

"So our first primary focus around Software as a Service really is around the retail associate. We've got lots of other software offerings around RFID, around a robotic solution and others, but we've talked about it being more retail focus today. — CEO Burns, MS Conference March 6, 2023"

"Competitors haven't succeeded because they make better products than Kao. They have succeeded because they are better at understanding the needs and aspirations of their customers, then selling and marketing those needs and aspirations to their customers through their products. — Oasis"

"During fiscal year 2022, the company announced that it had begun to shift enterprise customers to contracts billed annually, and that it had assumed fiscal 2023 enterprise contracts would be billed annually. The company subsequently determined, however, — Autodesk May 31, 2024 Form 8-K"

"“You can’t call it ‘bought’, you can’t call it ‘bought’. It was just kind of cooperation.” — A former Guangzhou Changing Edu teacher (2015-2016) and now head of a GZ 1-1 school since 2016. “It was not purchased, there was just cooperation.” — A former GZ 1-1 Head of School (2012-2016)."

"IF YOU DON'T CHANGE, YOU DIE... IF THINGS CHANGE FASTER OUTSIDE YOUR COMPANY THAN THEY CHANGE INSIDE YOUR COMPANY, YOU'VE GOT SOMETHING TO WORRY ABOUT... WHAT WE'RE TALKING ABOUT HERE IS YOUR FUTURE. IF YOU DON'T CHANGE, YOU WON'T HAVE ONE. — Southwest Founder Herb Kelleher, March 2014"

"In summary, the dissident has assembled a strong slate, which has the experience and independence that PSX requires. — ISS; Elliott’s nominees possess a strong mix of best-in-class industry expertise and experience and have the potential to unlock value for shareholders... — Egan-Jones"

"IF YOU DON'T CHANGE, YOU DIE... IF THINGS CHANGE FASTER OUTSIDE YOUR COMPANY THAN THEY CHANGE INSIDE YOUR COMPANY, YOU'VE GOT SOMETHING TO WORRY ABOUT... WHAT WE'RE TALKING ABOUT HERE IS YOUR FUTURE. IF YOU DON'T CHANGE, YOU WON'T HAVE ONE. — Southwest Founder Herb Kelleher, March 2014"

"We do not believe this adjustment is appropriate as it represents a material element of your customer arrangement (i.e., a sales incentive) and could lead investors to improperly infer that you would have generated the same revenue levels without granting this incentive. — SEC Response"

"In August 2019, we issued a $2.4 billion cash dividend to Playtika Holding UK. In September 2019, we distributed all of our shares in LaGuardia Venture Limited, or LaGuardia, an investment company which made investments of $400 million in 2018, to Playtika Holding UK. — PLTK Prospectus"

"“The accounts [to brush orders] are all fake. The [GSX] platform gave us more than 10 accounts, plus the ones our own employees applied, it’s over 20 accounts. For one class, we would purchase amounts from RMB 20,000 to 50,000,” stated by the company. — Anonymous education company boss"

"we've always thought about kind of the long-term EBITDA margin in the mid 11s. — CEO Response (Nov 23, 2021); So as you said, kind of long-term average for EBITDA has been the middle average. — CEO Response (June 14, 2022); we think that's an opportunity. — CEO Response (May 22, 2024)"

""The Commission has stated that, as a general principle, the fair value of a portfolio security is the price which the fund might reasonably expect to receive upon its current sale." — Douglas Scheidt, Associate Director and Chief Counsel in the SEC’s Division of Investment Management"

""In fact, our St. Joe beaches have been fortunate to experience minimal tar balls recently and have necessitated fewer workers to accomplish the slight clean-up required. We have similarly reduced the number of private workers required to maintain our beautiful beaches." — JOE Website"

"“...your device was cleared under K163512 for long-term monitoring of arrhythmia events for non-critical care patients where real-time monitoring is not needed as reporting timeliness is not consistent with life-threatening arrhythmias.” — FDA Warning Letter Dated 5/25/23 (CMS 643474)"

""Vishal you made one comment that I'd like to touch upon in a bit more detail relative to our past acquisitions. There's perhaps maybe one or two acquisitions I can point to that perhaps have not materialized, the benefits that we would have expected historically." — Q2 2023 Conf Call"

"The reporter came to Shenzhen Julan Information Technology Co., Ltd. The special assistant to the General Manager received us. The reporter asked, “Do you have any relationship with Focus Wireless?” The special assistant to the General Manager replied “No relationship.” — CCTV program"

"「KLA製の深紫外線装置は、とりわけ元のマスクの検査については市場のリーダーです。顧客としてはマスクには意図している画像が正確に転写されていることを確実に確認したいところです。それを検査・確認するためには、業界ではダイ・トゥ・ダイの技術が広く使われています。KLAのTeronシリーズはその技術を駆使しており、極端紫外線マスクの市場の一部を含めて、全社にとって主力装置です。ダイ・トゥ・データベースの検査技術もあります。それはレーザーテックが開発したものですが、その有効性については私にはわかりません」 — KLAで極端紫外線マスク検査を担当した、元エンジニアリング幹部"

"“The Moxian Platform is at the heart of our business. There are five components to our Moxian+ platform, which is the backend of our application, namely the social media engine, the e-commerce engine, the rewards engine, the gamification engine, and the analytical engine.” — 2017 10-K"

"Giant's balance sheet is akin to a personal financing tool for the chairman — Ottoman Bay Research. Giant Interactive Group "is willing to cooperate with authorities in their investigation into allegations the company is involved in money laundering activities." — Dahe Daily reporter."

"Ed: Just a quick question. If you can comment, since we have a lot of data with micro-second pulse field ablation, what are the theoretical benefits to nano-second? Is there less skeletal muscle stimulation or what’s the potential advantage? — Ed (Audience Member at AF Symposium 2024)"

"Dr. Metzner: Question from Ms. Schütz: What did the audit of our own work (accounts?) by Ernst & Young cost our company? - The special audit cost the company a five-figure amount. - I think it was about €25,000 or €30,000 but I'm not exactly sure. But it was about that. — Dr. Metzner"

""As part of such efforts, remuneration plans for management could be used as a sound incentive for sustainable growth, for example by including indicators related to profitability and improvement of corporate value in the calculation of executive remuneration." — Tokyo Stock Exchange"

"“If we roll out in more countries and regions through various sales channels, it is possible to aim for sales of 100 billion yen, but we will strive to be the Global Sharp Top without taking such an approach” — Kao Group Cosmetics and Skin Protection Business Growth Strategy Briefing"

""We put together a political action committee inside our company. I am in Washington every quarter, if not more than that. I have a list of Senators and Congressman that I go in and see. . . ." — Michael O. Johnson, CEO, Goldman Sachs 14th Annual Global Retailing Conference, 9/5/2007"

"“According to the agreement we were required to issue to an affiliate of Amazon warrants to purchase up to 2,932,176 of our ordinary shares which vest based on payments made by Amazon in connection with the purchase of goods and services from us.” — Kornit 20-F and Deal Press Release"

"Our capital expenditures in 2009 included approximately $35.1 million of investments directly related to our Blue Ocean multi-year program of information technology investment compared with $16.2 million (Note: RESTATEMENT) in 2008 and $5.0 million in 2007. — Mettler-Toledo 2009 10-K"

"CareDx considers itself “an international transplant diagnostics company with product offerings along the pre- and post-transplant continuum.” In that (somewhat hyperbolic) vein, the company mainly provides two diagnostic test services, AlloMap and AlloSure — CareDx Company Overview."

""On the CDMO side I think all the Lonza, Wu-Xi, Samsung's of the world should probably have one or two instruments, depending on how many programs they're supporting. But a relatively small-staffed, lean pipeline company, it's not necessarily worth the investment." — Gilead scientist"

"WPP, which invested $10 million in Spot Runner in 2006, alleges the two founders "perpetuated a 'pump-and-dump' scheme in which they aggressively promoted the company to new investors and then sold [the] new investors large quantities of their own secondary shares." — WSJ, April 2009"

"“a list of patients they were in charge of”; “high patient contact”; “reps engaging in the practice of medicine has always been the concern,”; “not health care providers in any way, shape, or form”; “responsible for the care of patients.”; “pretty concerned” — Former Nevro executives"

"“These results are very exciting for the treatment of PWS, as most patients showed improvements in body weight, hunger-related behaviors, and body fat content, despite the increased food intake included in the trial design,” explained Dr. Jennifer Miller — Zafgen Press Release, 2014."

""We are pleased to announce the involvement of Dr. Miller, a leading expert in treating patients with rare eating disorders, in the planning for a clinical trial evaluating the safety, pharmacokinetics and efficacy of TRP-8802, Jim Kuo, Tryp's CEO, said in a press release." — Jim Kuo"

"“It’s the VC arm of Ginkgo, or that’s how they frame it. There is some independence. I don’t know exactly how the legality of it works, but I know Ginkgo is basically their funding mechanism... a lot of their money or investment comes back to Ginkgo.” — Synthetic biology entrepreneur"

""...in our franchise area, you are solely responsible for your own profits and losses. We won't get overly involved in the daily operations and personnel management. If you want, we can give you some advises on staff selections. But we will not hire people for you..." — EDU Employee"

"“Insular, outsiders don’t get ahead” — Anonymous Employee; “Outside views aren’t considered or embraced, change never pursued” — Anonymous Employee; “ADP is an accounting and processing company” — Anonymous Employee; “ADP is not a technology or software company” — Anonymous Employee"

""A Company For Carrying Out An Undertaking Of Great Advantage, But Nobody To Know What It Is" — South Sea Bubble. "No offense, but we don't really care what you think" — Jagdeep Singh, MIT Technology Review. "Disclosure, [Singh] suggested, reflects weakness" — Marker/Medium article."