Today’s McDonald’s events were supposed to excite investors and spike the
price
of McDonald’s shares. Instead, Wall Street was underwhelmed - the longer
Easterbrook talked the more it hurt the stock, ending off $1.67. Everything that
was discussed today could have been revealed on the quarterly conference call 10
days ago or distributed by press release. And McDonald’s Operators didn’t need to
be misled into thinking there would be news today, left to wait for another web
cast next Monday.
of McDonald’s shares. Instead, Wall Street was underwhelmed - the longer
Easterbrook talked the more it hurt the stock, ending off $1.67. Everything that
was discussed today could have been revealed on the quarterly conference call 10
days ago or distributed by press release. And McDonald’s Operators didn’t need to
be misled into thinking there would be news today, left to wait for another web
cast next Monday.
Nation's Restaurant News covers the day
As does Reuters/BusinessInsider
.
4 comments:
I think Esterbrook and Andreas can't believe how screwed up things are up there. They made small reference to the size of the staff and how difficult it is to get anything done. It is a point made by Jim Canolopo (sp) several years ago when he accomplished a successful turn around. Since his death they let things get back to a worse condition than it was when he took over. Knowing no more than I do if I were Esterbrook I would start as a minimum using Jims model while at the same time fixing the food. It may be simplistic but they have got to tame the beast of too many employee's. It will generate ton's of law suits. If they are really smart they need to close stores and get out of bad leases. But, I'm never so optimistic than to think they are smart business people. They have proved that they are not. My biggest worry is that if these guys can't turn it around we are all screwed.
On "BUSINESS INSIDER" there are two good articles today (5/5) where Esterbrook lists the issues as he see's them. They are not new and nothing that the operators haven't been saying for years. At least they are now publicly acknowledged. However, he didn't say what they are going to do about them. Interesting read.
Monday was all about Easterbrook getting his mug on TV and all over the web. He seems to be a publicity junkie and it's
getting really old really fast.
Esterbrook sends out a 23 minute video that says NOTHING but a bunch of Bull. He should run for political office.
There is NO direction, No follow through with menu reduction, and operators are Not sticking together just like the companies wants it. Its called Divide and concur.
There is no us at McDonald's, it is US against them and they my friends are running us into bankruptcy. . . . .
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