Heroes of the (Left Liberal) Revolution? | Main | Our Exploding Guinea Pigs Abroad

November 9, 2002

175 Down, 29,825 to Go

Posted by Mike on November 9, 2002 10:41 AM

The San Jose Mercury news reports there are about to be 175 less McDonalds in the world:

"McDonald's shares fell by as much as 13 percent Friday on the New York Stock Exchange. The news also pushed down the stock of competitors such as Wendy's International and Taco Bell parent Yum Brands.

"The restructuring includes a planned exit from three undisclosed countries where McDonald's already has operations. The overhaul is the latest attempt by McDonald's Chief Executive Jack Greenberg, who has been at the helm for four years, to take costs out of an operation that has struggled with weak sales in the United States, with troubled economies in major markets such as Latin America, and the impact of mad-cow disease outbreaks in Europe and Japan."