Fast Food Nation

In 1968 mcdonalds operated about one thousand

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Unformatted text preview: t food restaurants. The McDonald’s Corporation has become a powerful symbol of America’s service economy, which is now responsible for 90 percent of the country’s new jobs. In 1968, McDonald’s operated about one thousand restaurants. Today it has about thirty thousand restaurants worldwide and opens almost two thousand new ones each year. An estimated one out of every eight workers in the United States has at some point been employed by McDonald’s. The company annually hires about one million people, more than any other American organization, public or private. McDonald’s is the nation’s largest purchaser of beef, pork, and potatoes — and the second largest purchaser of chicken. The McDonald’s Corporation is the largest owner of retail property in the world. Indeed, the company earns the majority of its profits not from selling food but from collecting rent. McDonald’s spends more money on advertising and marketing than any other brand. As a result it has replaced Coca-Cola as the world’s most famous brand. McDonald’s operates more pla...
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This note was uploaded on 02/25/2014 for the course MGMT 120 taught by Professor Litt during the Spring '08 term at UCLA.

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