But the corporate press release says: "We are working with franchisees around the world in order to promote financial liquidity (e.g. rent deferrals) during this period of uncertainty."
news.mcdonalds.com/news-release-details/our-focus-supporting-franchisees-crew-and-communities
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5 comments:
And those headlines are exactly why McDonald’s gives money to Democratic PAC’s. Guaranteed media support.
Postponing rent for a few months is part of a one sided strategy that Corp has put into place. They know we will be struggling with debt service, that they put on us, during this crisis. Instead of reducing or canceling rent they want us to “talk to our lenders”. Which is a clear signal that they want us operators to help influence our banks to ask for federal relief instead of them asking for it themselves. Let the banks deal with it so they don’t have to look bad publicly.
McDonald's Corp gives Owner/Operator money to Democratic PACs and the Operators keep contributing. Go Figure.
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like a moth to a flame...…...
McDonald's, the Chicago-based fast food chain, announced that it will donate 1 million N-95 masks — including 750,000 for the city and 250,000 to the state of Illinois. "Our company has a deep bond with the city of Chicago and the state of Illinois, and we feel a profound sense of gratitude for the healthcare workers and first responders serving our community," said Michael Gonda, vice president of McDonald's Global Corporate Relations, in the release. For our restaurants who cannot open today without employees wearing masks that Owner-Operators cannot get? “We’re working on it.”
In the face of unprecedented catastrophic sales and P&L pressure, service fee forgiveness will be considered on a “one off” basis. Translate that yourself, you’ll have to call alone and God help you if you aren’t prepared for a forensic accounting analysis and deep discussion of what else YOU should cut or if you’ve got a line item out of “norms”. Never mind that you have been too preoccupied keeping employees and implementing daily operational complexities that these people sit around dreaming up to be sure that headlines have appropriate buzzwords like “contactless service” which in practice does absolutely NOTHING to make anyone safer.
A few more headlines from the recent past:
“McDonald’s employees at company-owned restaurants who are impacted by the virus are receiving two weeks paid leave to tend to their critical health needs”
“McDonald’s USA (MCD) and Keurig Dr Pepper (KDP) today announced a long-term master licensing and distribution agreement for McCafé packaged coffee in the U.S.” (what happened to the give or share profits from this stuff with O/O’s? Force us to buy new machines, many had new machines that weren’t even paid for yet.)
“Fast-food giant McDonald's boosted congressional Democrats' efforts to hike the minimum wage Tuesday by telling the National Restaurant Association that it will no longer participate in lobby efforts against minimum-wage hikes at the federal, state or local level.”
“McDonald’s Corporation (MCD) announced today an agreement to acquire Apprente, an early stage leader in voice-based, conversational technology.”
“McDonald’s also invested in Plexure, a mobile app vendor, earlier this year to further advance the development of McDonald’s Global Mobile App.”
“McDonald’s Corporation (MCD) and Dynamic Yield Ltd. today announced an agreement by which McDonald’s will acquire Dynamic Yield, a leader in personalization and decision logic technology”
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