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The world's largest and most famous restaurant posted the company's first ever quarter loss of $343.8m (Oct to Dec 2002). Losses were mainly a result of a $810.2m fourth quarter charge related to market restructurings and other management actions ($252.1m in 2001). Included in that was a $170m write-off for terminating one of their IT projects.

McDonald's Trivia:
- First franchised McDonald's restaurant opened in Des Plaines, IL in 1955
- Serves 46m people every day in about 30,000 restaurants in 121 countries
- Over $40b in world wide sales per year
- James Cantalupo, 59, Chairman, CEO has a $2m salary
- Initial costs to open a new restaurant: $455,000-$768,500 for the building. $45,000 for new restaurant fee. $175,000 for a conventional purchase or $100,000 for a business facilities lease.

Links:
McDonald's posts first-ever loss - BBC
MCD Stock Quote
McDonald's Home Page
Total Restaurants By Country
MCD Annual Report
MCD Financial Report
Income Statement - Yahoo

Posted: 2003-01-28 10:37:54


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