McDonald’s Loving It … 80% Profit in 2008 … Also Home Sales Rebound Up

 

BIG MAC … BIG PROFITS!!!

It does not look like everyone had a bad business year in 2008. Fast food giant McDonald’s is truly “Loving It” as they posted an 80% profit in 2008. Gotta love the dollar menu. McDonald’s proves recession resistant.

US fast-food giant McDonald’s said Monday its 2008 net profit soared 80 percent from a year, lifted by growing demand from consumers seeking low-cost meals in a deepening global recession.

Net profit for the full year totaled 4.3 billion dollars, compared with 2.3 billion in 2007, the Oak Brook, Illinois-based company said in a statement.

The robust annual results came despite a sharp 23 percent decline in fourth-quarter net profit to 985 million dollars, from 1.273 billion in the 2007 fourth quarter. Fourth-quarter earnings per share were 87 cents, above expectations of 83 cents.

In another rather pleasant surprise, Sales of previously owned homes in the U.S. unexpectedly rose. Rather interesting that home sales rose even with complaints that bail out banks have not been loaning mortgage money.

Purchases rose 6.5 percent to an annual rate of 4.74 million from 4.45 million in November that was less than previously estimated, the National Association of Realtors said today in Washington. The median price dropped 15 percent from a year ago, the biggest decline since records began in 1968 and probably the biggest in seven decades, according to the group.

Home prices plunge record 18.2 percent in November

Posted January 27, 2009 by
Business, Economy, mortgage | 9 comments


If you liked this post, you may also like these:

  • Obamanomics New Home Sales … The Worst Year for Sales on Records Dating Back to 1963.
  • Scared Monkeys Radio Daily Commentary – Wednesday, March 4, 2009 – 911 Emergency at the McDonalds Drive-Thru?
  • Daily Commentary – Wednesday, February 8, 2012 – North Carolina Police Detectives Taser a Woman in the McDonalds Drive-Thru
  • Housing Markets; Sales Rise to Record in April
  • WOW … GM, Obama’s Government Motors Sells Just 603 Volts in January 2012




  • Comments

    9 Responses to “McDonald’s Loving It … 80% Profit in 2008 … Also Home Sales Rebound Up”

    1. rightknight on January 27th, 2009 11:46 am

      Free Enterprise System works every time
      it’s tried. Surely beats management by
      government hacks that simply broker
      the people’s money.

      The way that our government is printing
      money hand over fist, those dollar menu
      items will soon cost two or more.

      Please pass the “Broker Burgers” while we
      can still afford them.

    2. Rusty Bridges on January 27th, 2009 12:01 pm

      Auto makers take note, maybe don’t try and sell a $14,000 auto for $29,000

    3. nurturer on January 27th, 2009 3:13 pm

      Deep recession, incompetent govenment repeating a dismal history. People tend to eat more junk when they’re depressed. Expect to see more.

    4. bob on January 27th, 2009 4:12 pm

      But what do they get for their dollar? I remember reading years ago that an ingredient in McDonald burgers is seaweed.

    5. HOPE on January 27th, 2009 9:56 pm

      Oh God!

      I hate to think about those french fries that take
      weeks to digest… not to mention the extra cheese!

      No wonder we’re so phat!

      Blahhhhh!

      Shoulda bought their stock, instead ;)

    6. ANewGirl on January 27th, 2009 11:08 pm

      Not a stock market expert here at all, …dumb question as a novice—but with numbers like the above—-would’nt investing in some of Mickey D’s stock right now actually be a wise choice (even with the volatility of the market ?? )

      Think I’m going to ask the Hubby to purchase some ASAP, in fact.

      #4-Bob–Seaweed in the Burgers—rumour…at one point another rumour was flying around that there was ground up mealworms in their burgers, too if you can believe that one!

    7. nurturer on January 28th, 2009 12:06 am

      #6 – NewGirl, Nothing ‘dumb’ at all about your observation. In fact, it’s insightful.

      It’s sort of like investing in the manufacturer of bullets and kevlar vests during a war. It may provoke disgust in some, but the need is there and the earning potential from investment is there if the product is being purchased.

      Digital cameras may not be selling, while SONY lays off thousands of it’s workers, but McDonald’s thrives as many eat their burgers. Why?

      The $5.00 that could be used to purchase an 8oz. steak from the supermarket, buys how many Big Macs from McDonald’s? Two? Three?

      And as more and more people lose their jobs in 2009, which is predicted to rise into the MILLIONS, McDonald’s “food” may be the only source of cheap nourishment available. It’s cheaper, and their stock should rise. As well as health care costs.

      People have no concept of what is about the happen here.

      If I may:

      http://www.moneyandmarkets.com

    8. bob on January 28th, 2009 3:39 am

      NewGirl,

      Think you’re smart? McDonalds ADMITS putting seaweed in their burgers in the following NY Times article:
      http://query.nytimes.com/gst/fullpage.html?sec=health&res=9C0CE6D91F3FF936A25752C1A966958260

    9. tyler on January 28th, 2009 8:25 am

      fatining food pays noone

    Leave a Reply




    Support Scared Monkeys! make a donation.

     
     
    • NEWS (breaking news alerts or news tips)
    • Red (comments)
    • Dugga (technical issues)
    • Dana (radio show comments)
    • Klaasend (blog and forum issues)
     
     
     
     
     
     
     
    Close
    E-mail It