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Hold the Fries.(McDonald's Corp.)

Newsweek International

| December 30, 2002 | Ghazvinian, John; Miller, Karen Lowry; Springen, Karen; Seno, Alexandra A.; Johnson, Scott; Itoi, Kay; Pan, Esther; Kovach, Gretel C. | COPYRIGHT 2002 Newsweek, Inc. All rights reserved. Any reuse, distribution or alteration without express written permission of Newsweek is prohibited. For permission: www.newsweek.com. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

As a symbol of American conquest, it's easy to forget how McDonald's was first received overseas. Back in 1974, Britons queued for hours at the opening of a Mickey D's in London. When the Golden Arches sprang up in Moscow not long after the fall of the Berlin wall, they were celebrated as a sign of liberation. In 1994, the drive-through line on opening day in Kuwait City was seven miles long.

What to make, then, of McDonald's recent warning to Wall Street, when it announced that it will post its first quarterly loss in 37 years as a public company? Or its plans, disclosed a month earlier, to slow the pace of expansion, closing 175 stores (after shutting 163 in ...

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Source: HighBeam Research, Hold the Fries.(McDonald's Corp.)

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