April 20, 2004 |
McDonald's Corp. Chairman and Chief Executive Jim Cantalupo, credited with recently turning around the iconic American fast-food company, died Monday of what appeared to be a heart attack, and the company named a successor within hours. McDonald's appointed Australian Charlie Bell, the 43-year-old chief operating officer who had been seen as heir apparent, to replace Cantalupo as its first non-American CEO. Cantalupo, 60, died while attending a McDonald's franchisee convention in Orlando, Fla.
March 22, 2004 |
Hungry for a taste of the online music business, Sony Corp. is aiming to line up McDonald's Corp. to market the Japanese conglomerate's new download service, according to people familiar with the deal. The two companies have been hammering out the details of a pact in which McDonald's would provide fast-food diners with free songs from Sony's online music store, Sony Connect, these people said. The deal is expected to be announced this week.
March 3, 2004 |
Say goodbye to those super-sized fries -- McDonald's is slimming down its menu. The hamburger giant has started phasing out its trademark Super Size fries and drinks in its 13,000-plus U.S. restaurants as part of an effort to simplify its menu and give customers choices that support a balanced lifestyle, a company spokesman said. McDonald's Corp. added entree salads last year and has been moving to provide more fruit, vegetable and yogurt options with its Happy Meals.
February 13, 2004 |
Houston Rocket All-Star center Yao Ming is the new global spokesman for McDonald's, which let Kobe Bryant's contract expire after he was accused of rape. Yao's multiyear sponsorship deal was announced Thursday at a McDonald's outlet inside the Los Angeles Convention Center. Yao is in town to play in Sunday's NBA All-Star game. Bryant's three-year deal with the fast-food company expired Dec. 31. The Laker guard has lost other endorsement deals since being charged with sexual assault.
January 27, 2004 |
McDonald's Corp. capped a turnaround year with a modest $125.7-million profit in the fourth quarter, posting strong sales and operating results as it continued a resurgence under Chief Executive Jim Cantalupo. Net income amounted to 10 cents a share, contrasted with a loss of $343.8 million, or 27 cents a share, in the fourth quarter of 2002. Except for the unprecedented loss a year earlier, the latest quarter was the company's least profitable in more than a decade.
July 30, 2003 |
New salads helped McDonald's Corp. serve up significantly stronger U.S. sales in the second quarter, the company said Tuesday, but profit fell 5% on spotty results from its restaurants in Europe and Asia. Despite the biggest quarterly jump in sales since 1998 from established U.S. McDonald's-brand restaurants, disappointing results overseas kept talk of a long-sought turnaround on hold. Net income for the April-through-June period was $470.9 million, or 37 cents a share, down from $497.
January 23, 2003 |
Saying the law is not intended to protect people from their own excesses, a federal judge threw out a class-action lawsuit Wednesday that blamed McDonald's food for obesity, diabetes and other health problems in children. U.S. District Judge Robert Sweet said the plaintiffs failed to show that the fast-food chain's products "involve a danger that is not within the common knowledge of consumers." The lawsuit was filed against McDonald's last summer and sought unspecified damages.
January 11, 2003 |
A man who masterminded a multimillion-dollar scam involving McDonald's Corp. game prizes has been sentenced in a Florida court to 37 months in prison, a court official said. Jerome Jacobson, who pleaded guilty in April, was sentenced in the U.S. District Court in Jacksonville, Fla. Jacobson, 59, had admitted stealing tickets from games such as "Monopoly" and "Who Wants to Be a Millionaire." Jacobson was director of security for Los Angeles-based Simon Marketing Inc.
December 25, 2002 |
McDonald's Corp. is tinkering with its primary product -- the hamburger -- in its effort to stimulate sales. Beef patties will get a reformulated seasoning mix and new sandwich buns will be rolled out next year, a memorandum sent to franchisees disclosed. The memo also indicated that, despite some misgivings among franchisees as well as on Wall Street, the chain's Dollar Menu will be maintained -- and will get a big slice of the company's 2003 advertising budget. McDonald's declined to comment.
December 6, 2002 |
McDonald's Corp. Chief Executive Jack Greenberg said Thursday that he would retire at year's end. The restaurant chain named Jim Cantalupo, former vice chairman and president of the firm, to succeed Greenberg, 60. The company eight months ago said Greenberg, once a Wall Street favorite whose star faded, had agreed to stay at his post for three more years.