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Jens 'n' Frens
Idle thoughts of a relatively libertarian Republican in Cambridge, MA, and whomever he invites. Mostly political.
"A strong conviction that something must be done is the parent of many bad measures."
-- Daniel Webster
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Wednesday, December 18, 2002 :::
Taranto says:
In what may be history's most trivial civil-rights triumph, Jews are now able to apply online for a job flipping burgers in Pakistan. After we noted last week that the online job application asks for the applicant's religion and lists only Islam, Christian, Hindu and Sikh, McDonald's added a new option: "Other." It's still beyond us why McDonald's is inquiring about religion in the first place. Incidentally, if you click on the link for the application, check out the pull-down menu under "Preferred Location." Which would you rather work for, the Fortress Stadium McDonald's or the one on Jail Road?
The Associated Press reports that McDonald's has announced it expects to post a net loss of five to six cents a share in the fourth quarter of 2002--the company's first quarterly loss ever. So how come the golden arches are no longer golden? Well, for better or worse, McDonald's is recognized world-wide as one of the leading symbols of America. Could it be that McDonald's is diluting its brand by engaging in such un-American activities as religious discrimination overseas, not to mention various anti-American marketing efforts?
Could we please not do this sort of thing? It might be nice to think there's some karma at work, causing McDonald's to sputter as it allows franchises in foreign countries to adhere to less pleasant aspects of those countries' cultures, but we don't really believe this, do we?
McDonald's has seen its brand diluted, but that's not because Pakistanis don't find it sufficiently American. It's more a function of their "quantity over quality" mantra being taken too far over the last few years, combined (domestically, at least) with their price war with Burger King. It's my understanding that in the last quarter or so, they've started measuring performance by metrics other than "number of stores open". I'm not sure they've hit on "dollars in minus dollars out", but they have shut down some under-performing restaurants, and are focusing more on food quality and service than on sheer volume. Don't get me wrong -- the whole concept of "fast food" is one of higher volume and lower quality than you might find at Applebee's, but even we McDonald's types have some standards. Which is why Wendy's has been doing so much better than McDonald's (their six-month stock-chart doesn't reflect that unless you compare it with that of MCD, but I did mention a price war). I wouldn't fault you for buying either stock at current prices, though I think Wendy's is safer (and I'm not feeling compelled to buy either one just yet).
::: posted by Steven at 11:26 PM
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