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“This is the first signal that turmoil in the financial markets is reaching McDonald's.” – Richard Adams, McDonald’s Consultant
“Bank of America has been taking steps to increase capacity to fund additional growth.” –McDonald’s Treasury Department
“McDonald's is identifying new sources of liquidity and loan programs for our franchisees.” –McDonald’s
Can you say CREDIT CRUNCH?
McDonald's Says Bank of America Won't Boost Loans (Update3): “McDonald's Corp., the world's largest restaurant company, told some U.S. franchisees to seek other ways to finance store improvements after Bank of America Corp. declined to increase lending.
Store owners have exhausted financing used to pay for upgrades and equipment to make lattes and espressos, and Bank of America won't provide more money as it works on the planned purchase of Merrill Lynch & Co., McDonald's said in a memo that was obtained by Bloomberg News.”
Sorry, we can’t make productive loans because we are too busy digesting the toxic waste we’ve acquired…
“These levels held and violently rejected prices. BAC fell back into “the box” and then dropped through support around $28 before closing above that key level. BAC is run by executives blinded by greed. Countrywide Financial was no
t a bargain. Merril Lynch (MER) is not a bargain. They are giant, undefined liabilities. To expand like this in a credit crisis is border line retarded. BAC shareholders will eventually realize this?”–TheFinancialNinja, 09/17/08
Source : Bank of America Not Lovin' It
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