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Retailers, consumers and prices

McDonald’s CEO (aka “hamburger guy”) on economy

May 27, 2009

skinnerronaldReuters asked the chief executive of McDonald’s, one of the world’s biggest companies and a closely watched gauge of consumer spending,  what every investor wants to know: Has the economy hit bottom?

“In the United States, there is some argument to say that these green sprouts that are showing relative to economic growth are pointing to the fact that we might have (hit) bottom and now it’s starting to grow.

“If you look at some of the sectors relative to the economy, one could argue that we’re not at the bottom and we’re not looking at an upturn.

“I listen to all the economists and others. I’m not an economist; I’m a hamburger guy … Yes, we operate better in a robust economy, but we’re positioned well to operate well in this environment and I don’t think that you would want the CEO of McDonald’s to tell you whether or not the economy of the United States as a whole has bottomed out or headed up. I can only respond regarding the impact that it’s had on McDonald’s.”

(Photo\Reuters)

Comments

Wow, that’s some reporting!

I know he said, “we’re positioned well to operate well in this environment.” But, did you ask him what the impact of this economy is on MCD and how it is doing compare to prior years? He did say, “I can only respond regarding the impact that it’s had on McDonald’s.”

Where’s the new in this story?

 

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