Key Developments: McDonald's Corp (MCD)

MCD on New York Consolidated

17 Apr 2015
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Latest Key Developments (Source: Significant Developments)

Unions, charity accuse McDonald's Corp's of avoiding $1.1 bln in tax - Reuters
Wednesday, 25 Feb 2015 09:37am EST 

McDonald's Corp:Labor unions and a charity accused fast food chain McDonald's of avoiding around 1 bln Euros ($1.1 bln) in tax between 2009 and 2013 by routing revenues through a Luxembourg unit and called on the European Commission to investigate - Reuters.The European Federation of Public Service Unions and The Service Employees International Union said McDonald's saved on tax by having restaurants make tax-deductible royalty payments equivalent to five pct of turnover to a lightly taxed subsidiary in Luxembourg.Filings in Luxembourg show that McD Europe Franchising Sarl, received over $1 bln in fees from franchisees and McDonald's subsidiaries across Europe in 2013.It paid tax of just 1.4 pct on profits of $288 mln in 2013 - well below the headline Luxembourg corporate tax rate of around 29 pct.The labor groups said the low tax rate could be due to the use of tax breaks for exploiting intellectual property, although the company could also benefit form the fact that many of its operations are through its Swiss branch.The civil society groups said the 1 bln Euros tax saving they alleged, reflected what might have been paid if the royalties were retained in countries like France and Britain and taxed there.  Full Article

Brazil unions sue McDonald's Corp's for allegedly violating labour laws, try to block new stores - AP
Monday, 23 Feb 2015 07:00pm EST 

McDonald's Corp:Brazilian labour unions are suing McDonald’s and its local franchisee Arcos Dourados for allegedly violating labour laws for at least 30 years - The Associated Press.The suit filed Feb. 23 in Brasilia also seeks to prevent McDonald’s from opening new stores until it complies with legislation and asks that it be slapped with penalties of up to 30 pct of its revenue in Brazil.The suit was spearheaded by the union for fast food restaurant workers.It says in a statement that the defendants have 'violated minimum wage laws, committed timecard fraud, failed to pay overtime, denied employees regular schedules, and used underage workers, among other illegal actions.  Full Article

Don Thompson will retire as President and Chief Executive Officer of McDonald's Corp
Wednesday, 28 Jan 2015 05:39pm EST 

McDonald's Corp:Says that Don Thompson will retire as President and Chief Executive Officer and as a member of the Board of Directors after nearly 25 years of service to the company, effective Mar. 1.The Board has elected Steve Easterbrook to replace Thompson as President and CEO.  Full Article

McDonald's Corp announces quarterly cash dividend
Wednesday, 28 Jan 2015 04:58pm EST 

McDonald's Corp:Declares a quarterly cash dividend of $0.85 per share of common stock.Payable on March 16 to shareholders of record at the close of business on March 2.  Full Article

McDonald's Corp faces worker lawsuit on franchise operator’s alleged racial, sexual discrimination - AP
Wednesday, 21 Jan 2015 07:00pm EST 

McDonald's Corp:Some McDonald’s workers who say they were fired because of their race are suing the company, accusing it of dodging responsibility for the discrimination and harassment they say they endured - The Associated Press.The workers said in a federal complaint filed that about 15 African-American employees of some southern Virginia restaurants run by Soweva Co. were fired last May after several white employees were hired.Many of those fired were told by Soweva owner Michael Simon that while they were good workers they 'didn’t fit the profile' he was trying to build for the company, according to the complaint.The employees said that McDonald’s controls nearly every aspect of how franchisees operate restaurants, but corporate officials did nothing when they were contacted about the dismissals and 'blatant racial discrimination.The workers said in the complaint that before they were fired, restaurant supervisors frequently demeaned African-American workers by using terms like 'ghetto' to describe them and by complaining that there were 'too many black people in the store.The complaint also states that female employees were inappropriately touched by a male supervisor who also sent them naked photos and offered better working conditions in exchange for sex.  Full Article

Hardcastle to invest to add 250 McDonald's Corp outlets-Business Standard
Thursday, 9 Oct 2014 06:02am EDT 

McDonald's Corp:Hardcastle Restaurants, McDonald's franchisee for West and South India operations, will invest up to 850 bln Indian Rupees to add 250 outlets of the US fast food chain within 3-5 years-Business Standard.  Full Article

McDonald's Corp declares quarterly cash dividend
Thursday, 18 Sep 2014 04:30pm EDT 

McDonald's Corp:Declares quarterly cash dividend of $0.85 per share of common stock payable on Dec. 15, 2014, to shareholders of record at the close of business on Dec. 1, 2014.Represents a 5 pct increase over previous quarterly dividend.  Full Article

McDonald's Corp updates on FY 2014 comparable sales outlook
Friday, 8 Aug 2014 07:58am EDT 

McDonald's Corp:Says as a result of the China supplier issue, the company's global comparable sales forecast for FY 2014 is now at risk.  Full Article

McDonald's Corp gives FY 2014 comparable sales outlook
Tuesday, 22 Jul 2014 07:58am EDT 

McDonald's Corp:Expects FY 2014 global comparable sales to be relatively similar to year-to-date June performance, with July global comparable sales expected to be negative.  Full Article

McDonald's Corp announces quarterly cash dividend
Thursday, 17 Jul 2014 05:30pm EDT 

McDonald's Corp:Declares quarterly cash dividend of $0.81 per share of common stock payable on Sept. 16, 2014 to shareholders of record at the close of business on Sept .02, 2014.  Full Article

UPDATE 1-What to Watch in the Week Ahead and on Monday, April 20

A slew of Dow 30 companies report results in the week: Chemicals conglomerate DuPont, industrial conglomerate United Technologies Corp, property and casualty insurer Travelers Companies Inc and wireless carrier Verizon Communications Inc on Tuesday; McDonald's Corp, AT&T Inc, Boeing Co and Coca-Cola Co on Wednesday; and diversified manufacturer 3M Co, Procter & Gamble and Microsoft Corp on Thursday. While DuPont is expected to report lower first-quarter results, Travelers Companies Inc's first-q

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