Free Republic

/a>The invasion of Ukraine has led many Western companies to suspend or exit Russia, and the latest to do so is McDonald’s, after three decades of operations. NYTimes reports McDonald’s will sell its Russian book of business to a local buyer. The stores will be “de-arched,” meaning the new buyer will no longer use the McDonald’s logo. Most of McDonald’s 847 restaurants in Russia are company-operated. It will write off between $1.2-$1.4 billion and recognize “foreign currency translation losses,” McDonald’s said. “This is a complicated issue that’s without precedent and with profound consequences,” Chris Kempczinski, the chief executive of McDonald’s,...