So many times in the past, the far and wide reach of McDonald's (MCD) has served it well. Now, its massive global presence is the very thing that's putting its growth in jeopardy.
McDonald's said Monday that its quarterly results took a hit from struggling economies around the world, while earnings were cut by the increase in the dollar relative to other currencies. For many people, rising bond yields in Spain and austerity plans in Greece don't mean much, often because it's esoteric commentary on something happening thousands of miles away. The McDonald's story then should help crystallize how the serious financial predicament facing so many nations can weigh down U.S. corporations.
In effect, McDonald's has nowhere to hide. With more than 33,000 restaurants, less than half of which are in the U.S., the Oak Brook, Ill., hamburger seller can't avoid the fact that its biggest markets are dealing with at best tenuous economies. Had currency rates been stagnant, McDonald's would haveRead More »from For McDonald’s, worldwide reach means worldwide problems