Word: mcdonaldization
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...know McDonald, the policeman who arrested Oswald? Well, we had him up here. Gave...
Most Americans have never heard of Jack Richard Simplot. But they know of his product and doubtless have eaten it. As the "Idaho potato king," as well as the nation's largest supplier and processor of potatoes, Simplot funnels millions of ready-cut spuds to McDonald's, which turns them into millions of French fries to go with its quick-food goodies. But Simplot has a reputation as a wheeler-dealer in his favorite commodity, and last week he found himself entangled in the biggest potato-futures default in the 104 years of the New York Mercantile Exchange...
...MCDONALD, DAVID vos and ROBERT GERLACH
More striking still is the contrast between the onetime peak and present P/Es of some individual stocks. Samples: Polaroid, a high of 114 v. 18 now; McDonald's, 81 v. 26; Xerox, 63 v. 16. At one point in 1968, IBM was selling at $701.50 a share, or 161 times earnings, giving its stock a market value equal to all the shares in all the oil companies in the U.S. Now, at $256 a share, IBM is priced at a modest 18 times profits...
...moral of the McDonald's success story is not that every little poor boy can become chairman of the board with enough sweat and strain. The many skeletons in the McDonald's refrigerators disprove this. It was not the invisible hand of the free market but the iron-gloved fist of corporate greed which flipped the burgers that made McDonald...