American - Businessman | November 14, 1943 - April 19, 2004
McDonald's is almost 50 years old. For 47 years we had a pretty consistent track record of being able to deliver admirable sales.
Jim Cantalupo
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Playtime and toys are good for kids, or they wouldn't buy them. McDonald's can provide that experience. And having dinner with the family is good for kids.
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Salads was a big indicator of that - there was a huge market out there for it. And why not tap it? Some of the things we are doing now around the globe are responding to customers. It's not because some guy sued you.
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So Europe's a big driver. And at one point, if the euro hadn't devalued, they would have been making as much money as the US with half the stores. Returns were higher.
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Some of the analysts were saying, Now you're a cash cow, there's no growth at all, pay it all out in dividends, give me it all, you can't invest wisely.
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The fact of the matter is, most of our orders are not supersized. Less than five per cent are supersized - that's never mentioned. The whole issue has been supersized itself.
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The markets where we've got real good presence are the older, more mature markets like Australia, and Western Europe - where we've only got 6,000 stores, compared to the US with 13,000.
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We cover hamburgers, chicken, veggie burgers, salads, we've got a pretty broad range. To me, McDonald's isn't only about the food. It's about the prices, it's about the way we eat.
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We have very specific rules about how we go to market with children, and I think they are very responsible.
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When you raise prices, you've got to make sure you get it to the bottom line. You can fritter it away because of the way you're running the business, with maybe not a totally disciplined approach.
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When you're doing that you lose your focus on the discipline of the business, and how you train people at Hamburger University, and everybody gets on a bigger, different vision, and they're not on the same page.
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You have got to have discipline and focus - on the customer and how you run the business.
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