Posted on 05/16/2022 4:04:44 AM PDT by dennisw
In March, the fast-food company temporarily closed all its restaurants in Russia This included its iconic Pushkin Square location. It continued to pay its staff
Now, it has said that it will seek to have a Russian buyer take over the business It did not identify a buyer, but said it would start removing its golden arches McDonald's expects to record a non-cash charge of about $1.2bn to McDonald's Corp said on Monday it had initiated a process to sell its business in Russia after 30 years of operating its restaurants in the country, following Moscow's invasion of Ukraine.
In March, the Chicago-based company temporarily closed all its restaurants in Russia including its iconic Pushkin Square location, but was continuing to pay its staff.
On Monday, it said it would seek to have a Russian buyer hire its employees and pay them until the sale closes. It didn't identify a prospective buyer. McDonald's said it plans to start removing golden arches and other symbols and signs with its name.
As part of the exit, McDonald's expects to record a non-cash charge of about $1.2 billion to $1.4 billion.
'The humanitarian crisis caused by the war in Ukraine, and the precipitating unpredictable operating environment, have led McDonald's to conclude that continued ownership of the business in Russia is no longer tenable,' it said.
McDonald's Corp said on Monday it had initiated a process to sell its business in Russia after 30 years of operating its restaurants in the country, following Moscow's invasion of Ukraine. Pictured: The oldest of Moscow's McDonald's outlets, which was opened on Jan. 31, 1990
Chief executive Chris Kempczinski said the 'dedication and loyalty to McDonald's' of employees and hundreds of Russian suppliers made it a difficult decision to leave.
(Excerpt) Read more at dailymail.co.uk ...
McDonalds and "values"???? Some sort of an oxymoron contest or what exactly??
It's rare that you ever find a McDonalds anywhere on Earth without there being some decent buffet or restaurant within a mile or two that is no more expensive and serves decent food...
“As it tries to sell its restaurants, McDonald’s said it plans to start removing golden arches and other symbols and signs with the company’s name.
It said it will keep its trademarks in Russia.”
Russian counter-sanctions meant that McDonald’s already lost its trademark. Also, how, exactly does McDonald’s plan to ‘remove’ its golden arches in that country?
“Most people have no idea why Russia went to war. They seem to believe this is all Putin’s idea.”
You are correct. I see what others in the Russian leadership are saying, and God help the planet if any of them get into power, as they’re going to put a quick end to this war, regardless of whether it means exchanging cities.
oops, my apologies.
This is an old story to start a silly flame war here. They already re-opened by Russians and using a new name.
I don’t normally see McDonalds as worrying about values too much. I see posted here many times, knock down drag outs and hair yanking brawls at US McDonald’s.
Usually a good idea that when you are going to virtue signal for the masses begging for the Great Reset, to clean up your own house before shooting off your silly PR mouth.
Tom Friedman might say, “Don’t pull out. There might be a war.”
I agree. This is the Treaty-of-Versailles mentality that did produce Hitler!
Putin is a monster. If cornered and nothing to lose, there is no limit to the evil he would unleash.
The best thing Americans could do to help Ukraine would be to impeach Biden, Harris, and Pelosi and install Trump into the Presidency. It's not going to happen.
Maybe if the Supreme Court would examine the evidence of massive fraud in the 2020 Presidential Election and prove that Trump was the legitimately elected President--but if they had that much courage, integrity, commitment to truth and justice, sense of responsibility, and intelligence, they would have examined the evidence immediately after the election.
Americans must support Ukraine as much as possible but avoid antagonizing Putin the madman and unnecessarily alienating the Russian People.
“Dangerous Side Effects of Eating McDonald’s”
Employee spit.
I imagine the Russian Mafia already has its hands deep in McDonald’s cash registers. (That’s a nice restaurant you have there, comrade. Be a shame if it were to burn down.) They’ll either scoop up the restaurants up at very favorable prices, or act as “brokers” to arrange the upcoming sale. The new owners would then continue to pay the “insurance” fee.
Well, making good burgers and shakes is not exactly high tech. Anyone can make them.
By being “no longer tenable,” McDs means that the Russkies don’t have enough people assaulting employees because they ran out of Chicken McNuggets.
Really our options are limited, because no matter what, we aren’t going to march to Moscow and occupy Russia.
We didn’t occupy Germany after WWI, we had no choice after WWII.
Let’s not create a situation where the only solution is going in and occupying Russia.
I think that's a likely byproduct of their political state and culture. Just like here in the U.S. you can be almost certain that elected officials are corrupt and interested in big government with little or no interest in our traditions and freedoms.
Absolutely! That would spark nuclear war.
We have never needed a brilliant, puissant leader more than we need one now. We had one--Donald Trump. It was his removal from office that encouraged Putin and sparked the Russian invasion of Ukraine.
Anyone glum about the war in Ukraine can blame those responsible for removing Trump from office and replacing him with the feckless figurehead Joe Biden, puppet of a very dangerous cabal.
Russians pretty much already have an “Us against the World mentality”, the trick is how to break that. And marching on Red Square isn’t a viable option.
Those responsible for replacing Trump with Biden are directly responsible.
If, God spare us, the unthinkable should happen--nuclear war--they will be directly responsible for that.
Without the inventory supply McDonald’s is just real-estate.
Just keep on isolating Russia.
—
The US oil embargo on Russian oil is starting to backfire - Russian cost to produce is $10-20 a bbl. Selling at $30 discount, net profit at current $110 per bbl is $60-70 a bbl.
There is no other place for increased oil supply to come from other than US & Canada; as their environmental policies become more draconian, the price will continue to go up and Russia will continue to rake in even more dough.
But the decision to break and destroy the oil market seems to have been made. And with that, end current population numbers and western civilization as we have known it.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.