I don’t know what exactly it is a metric of—the economic crisis? healthier eating habits? better taste? the inexplicable success of that extremely annoying actress playing Wendy in the commercials? the cannibalization of its flagship product by the McRib?—but a McDonald’s milestone has been delayed.
According to leading economists and actuarial scientists (McDonald’s itself no longer calculates such things), Ray Kroc’s little hamburger stand was poised to sell its 300 billionth burger this year. But no more. Read more »
Despite giving “147 speeches to students and traders warning about insider trading since his arrest,” which Bauer’s lawyer argued should have scored him some leniency, the guy who ran a decades-long insider trading scam with an M&A attorney tipster and dumped evidence in a McDonald’s near his apartment where paranoia drove him to think a random guy buying a Big Mac was an undercover agent has been sentenced to nine years in prison. [Bloomberg]
A reader/FEC enthusiast asks: “Today’s Living Social deal for five Big Macs and five large fries BEGS for a New Normal eating challenge. Someone has to have a hungry analyst, right?” Read more »
Earlier this morning, Garrett Bauer, a trader who mostly “worked from home” and Matthew Kluger, an M&A attorney, were accused of running a decades-long insider trading scam that involved stealing information from several law firms. Recently, the duo became suspicious that the authorities were on to them and, naturally, went about destroying evidence. Because the feds were indeed building a case against the guys and had obtained permission to record their phone calls, we’re privy to a conversation that took place on March 18, 2011, between Bauer and an individual only identified as CC-1. While Bauer doesn’t walk CC-1 through the actual steps of how he broke a disposable phone in half (as accused insider trader Donald Longueuil did, noting the use of pliers), he does make us feel like we were in the McDonald’s with him that night, particularly when he flipped out thinking some random guy buying a Big Mac was an undercover agent, and proceeded to ask the customer, “Do you know me?” Read more »
McDonald’s Corp said it would selectively increase menu prices this year to help offset an expected rise in its own grocery bill for the 10 commodities that account for around 75 percent of its food preparation costs. Food prices are climbing around the globe and the world’s biggest restaurant chain said its costs are expected to rise this year 2 percent to 2.5 percent in the United States and 3.5 percent to 4.5 percent in Europe. Chief Financial Officer Pete Bensen said McDonald’s would “raise prices where it makes sense” to offset some, but not all, of the cost increases. [Reuters]
Shia LaBeouf “Incentivized” His Trading Coaches To Make Him “Some Coin” By Promising Them Visits To The Set Of Money Never SleepsBy Bess Levin
Also, his top pick is McDonalds, if you’re looking for some ideas.