Jack Greenberg
Jack Greenberg
additional capital expect fund global million moderate reduce related restaurant share
To fund the additional capital expenditures related to U.S. initiatives, we expect to moderate share repurchases to approximately $500 million in 2003 as well as reduce global new restaurant openings.
conditions difficult global including overall pleased proud system year
This has been a challenging year for many global companies, including McDonald's, ... While I am not pleased with our overall results, I am proud of how our system has responded to the many difficult conditions we've faced.
against almost branded company difficult dollar european four global managing period quite results three weak
The European currencies have been weak against the dollar for three or four years now, and we've had two or three years of really extraordinary results worldwide, ... So, we're managing through this difficult period quite well, probably better than almost any other global branded company I can think of.
achieved business extended lead remarkable turnaround
We extended our considerable lead internationally and achieved a remarkable turnaround in our U.S. business,
based behalf business customers decisions field includes line operating personnel regional responsibility restaurant ultimately
We want the line -- which for McDonald's includes our divisional and regional staffs, owner/operators and restaurant personnel -- to make decisions on behalf of customers based on field operating needs. The line ultimately has responsibility and accountability for our business success,
confident growth improvement setting stage strategies stronger year
This year has been challenging for McDonald's, ... But I am confident that our strategies are right and we will see significant improvement in 2002, setting the stage for stronger growth in 2003 and beyond.
building business comparable effective improved improving intent marketing menu sales six tough
While this has been a tough six months, we are intent upon improving the business by building comparable sales around the world through improved operations, effective marketing and menu development,
ambitious continue difference environment environmental head proud tangible targets
McDonald's is proud of the tangible difference we have made for the environment in just 10 years. As we head into the new century, McDonald's will continue to set new, ambitious targets for environmental progress.
existing expect invest million
As part of this plan, we expect to invest $300 million to $400 million in existing U.S. franchised restaurants in 2003,
decisions functions line maximize staff support
We want staff functions to support line decisions and maximize their impact.
century innovation integral vision
... Innovation is an integral part of our vision for McDonald's in the 21 st century
domestic grow optimistic remain
I remain very optimistic about our long-term opportunities to grow profitably in the domestic marketplace.
coordinate dinosaur ought people point released smart
I ought to point out that the Dinosaur movie really is by coincidence being released this week, ... People give us too much credit. We weren't smart enough to coordinate all this.
baton management opportunity pass team time
In every company's history, there is a time when it is appropriate to pass the baton and give a new management team the opportunity to lead, and that time has come at McDonald's,