Fox News
Expand
Browse All Video
Watch Live

You're watching...

McDonald's CEO: Economic Woes Are Troubling

Details

  • Description

    Exclusive: Jim Skinner on state of the global economy, tax reform

  • Duration 5:13
  • Date

Clips

Also in this playlist...

Your World Exclusives

Auto-advance: ON

Auto-advance
View All

Transcript

This transcript is automatically generated

Is now set to go free but we are looking at not only that.

But what we celebrated -- last fifteen years with some of the biggest names.

Across the board fifteen years running we're gonna take a look back.

Also take a look forward ever going to -- it was some of the best and brightest and most powerful on this planet.

Beginning first said the -- Mosul with a guy knows a thing -- -- about keeping people satisfied.

And He had his company have been doing that for a lot longer.

Then just fifteen years I'm very happy to have with me now as we kick off Clark.

Self congratulatory fifteen year pat on the back the man who lives it doesn't send me a thank you -- even -- -- -- -- Really responsible for the success he's had a talking about McDonald's CEO.

But Jim standards in very good to have you thank you -- -- congratulations on your anniversary I'm not very much by the way -- -- that I missed a quarter pounders I think here's some help her dirt just.

You have to do your job first and then you understood I got there -- -- You know level.

It's interesting because you -- done well in the economic environment that's been anything but and a lot of folks still region that's precisely because it's not -- -- great economic environment.

And people -- sought out value -- what is it.

Well I say that's a mess we were doing well before the recession McDonald's business model.

Focus on our customers are restaurants and every day value and everyday affordability.

It was that way before the recession.

And throughout the recession it'll be that way after the recession and so people are trading in the McDonald's.

Not trading down that's a mess we had gotten.

I growth and customer gross before the recession end during a recession and we'll have that every morning.

-- worry don't -- -- been an indelible and everyone's exit on this trial in middle it rightly so on all but beat -- -- was just pointing out.

You know.

That's a Dicey country lives or dies He probably needs a president -- -- -- lead to trouble.

I think Italy many times did in the McDonald's no stranger to that -- country.

And this concern that beyond just the fixation with this robs you of the fixation with a global slowdown.

And here's McDonald's you know it broccoli all of these countries but -- -- Well first of all McDonald's like every other company we do well and a policy and economic time.

And a better economic times for everybody and it is troubling to see the economic woes of the world.

Fortunately our business model serves us very well in every economic environment.

It's disappointing to see the -- were not making more progress relative economic development here in America right now and around the world so yes it continues to be troubling.

But I only focus on.

McDonald's and how we're going to have to behave in this environment to continue to be successful.

But I don't from a lot of -- -- you today not only to shareholders of public remarks you made it.

You are concerned about big slowing down here you've you've you've sort of tempered this by expanding elsewhere but it's we do you'll have a global slowdown DiMarco did it is hysterical -- sense that something worse is -- and that.

Maybe what's going on in Europe is appreciated coming attractions but He.

Well -- continue to be successful in Europe -- they had.

What you might call economic slowdown already bright I would say a lot of theory -- that could be worse well I -- I'm not sure that it.

Would get worse.

I hope it doesn't get worse I don't know that there's a contagion there I'm not an economist I don't spend my time.

Don't you actually know what you're talking about how what thank you for that until I appreciate that -- -- Feel like our business model continues to -- very well with the consumers in Europe and every country there weren't.

And so what we're we're not worried about an ultimate.

Collapse if you will.

We have double -- long way before people are not able to visit McDonald's discretionary income.

General.

See those and it's successful companies Cecil individual seasons -- yourself.

And it's hard give up -- of late certainly -- -- politicians.

May need to get a let us decide.

He should do more you should.

Higher PER you sit up pay more in taxes -- -- it.

Do you feel about that what would see you know like yourself what would probably like McDonald's.

Want to see it worded zoo.

-- invest -- or to hire more.

-- -- first of all business in general needs tax reform in the United States and -- her body is an agreement with that you can't just target.

Protect your segments of the economy and tax people more or less based on that I think the overall -- -- -- yesterday we work.

Again not economists don't spend my time on husbands and Jurassic era taxes -- -- -- right now.

I think for businesses in terms of incentives for investment that checks on the on the business corporations it's too -- So -- your brother's address that first I think myself out you have to get an -- different case but that would get you hiring more or hiring -- -- -- we we we hired.

On a regular basis based on the needs of our business we're in a cash business when we have more customers coming in the restaurants.

We're we're mandated to have to hire more people to be able to serve our customers of the standards McDonald's so we've been hiring rate throughout.

But it business and generals have -- construction realistic potential thinks it that really lead the economy and these recoveries and -- -- -- that there needs to be some.

Back cleaning up the house -- some incentives overtime in that regard.

Sergeant thank you very much of a busy news -- so -- thank you see see you thank you what -- look it's doubled sort of like they're back they're back there there are out there doing yet.

Load More