But, on balance, we seized the marketplace. We've got a great infrastructure. And yes it's struggling in some areas because of some external factors and some internal factors.

Playtime and toys are good for kids, or they wouldn't buy them. McDonald's can provide that experience. And having dinner with the family is good for kids.

You then get into a period a few years ago, where a lot of external factors that we didn't have anything to do with did hit, and some of them at the same time... devaluations, weak economies, you name it, in various parts of the world.

So Europe's a big driver. And at one point, if the euro hadn't devalued, they would have been making as much money as the US with half the stores. Returns were higher.

McDonald's is almost 50 years old. For 47 years we had a pretty consistent track record of being able to deliver admirable sales.

You have got to have discipline and focus - on the customer and how you run the business.

I think this year we'll open up 900 gross, we're closing some, so the net count is lower, but the 900 are spread all over the place. Some of the closures are relocations, where you're moving it to another place in the marketplace.

When you're doing that you lose your focus on the discipline of the business, and how you train people at Hamburger University, and everybody gets on a bigger, different vision, and they're not on the same page.

I think we have a great track record on being relevant, on identifying consumer trends, needs and wants.

As I said, I haven't spent a lot of time thinking about partner brands.

And so if your competitors aren't growing, if there isn't a competitive reason to grow, and you want focus and discipline to add customers to existing stores, you adjust your strategy.

But I tell you, I would really be interested if there was a partner we could take in, that could put them over here on the side, that would allow us full leverage and access down the road.

We cover hamburgers, chicken, veggie burgers, salads, we've got a pretty broad range. To me, McDonald's isn't only about the food. It's about the prices, it's about the way we eat.

Salads was a big indicator of that - there was a huge market out there for it. And why not tap it? Some of the things we are doing now around the globe are responding to customers. It's not because some guy sued you.

Every year we close 300-400 stores anyway, just relocations.

When you raise prices, you've got to make sure you get it to the bottom line. You can fritter it away because of the way you're running the business, with maybe not a totally disciplined approach.

I think we'll still be a family restaurant, we'll be contemporary, we'll be lifestyle, we won't be old, we won't be 60 years old in the view of the consumer.

But we had a pretty diversified portfolio of businesses around the world and things tended to offset each other. But one or two years ago, we had a lot of things happening at the same time.

The fact of the matter is, most of our orders are not supersized. Less than five per cent are supersized - that's never mentioned. The whole issue has been supersized itself.

And ours is a business that requires discipline and focus.

Ronald has had bicycle safety and safety in the home. Yes, Ronald is McDonald's, second most recognised figure after Santa Claus, and there's an element of obviously benefiting your business.

We have very specific rules about how we go to market with children, and I think they are very responsible.

The markets where we've got real good presence are the older, more mature markets like Australia, and Western Europe - where we've only got 6,000 stores, compared to the US with 13,000.

Some of the analysts were saying, Now you're a cash cow, there's no growth at all, pay it all out in dividends, give me it all, you can't invest wisely.

But, on balance, we seized the marketplace. We've got a great infrastructure. And yes it's struggling in some areas because of some external factors and some internal factors.

I talked about 12 to 18 months, and that's about reaffirming our foundation for sustained growth: getting the discipline back, getting the basics right, getting the customer focus back... so by the end of next year, I hope most of that's in place.

But you know the second month I was here I put out a healthy lifestyles directive. The pundits will say it was because we were sued. Well that's what they say. It was never about that.

But in terms of the code by which we go to market - it's not telling kids to supersize, we're not selling them, generally, products, in the advertising we do to them.

Because we only feed in the United States less than 1 per cent of the meals, most of them are eaten elsewhere. Most meals are eaten at home. So to make McDonald's the target is not going to solve the problem.

Almost every wise saying has an opposite one, no less wise, to balance it.

I believe as human beings we are out of balance, out of synch with the earth.

But all the money in the world cannot make you happy either, so there has to be a balance.

In almost every country there are elements of opinion which would welcome such a conclusion because they wish to return to the politics of the balance of power, unrestricted and unregulated armaments, international anarchy, and preparation for war.

But if you can create an honorable livelihood, where you take your skills and use them and you earn a living from it, it gives you a sense of freedom and allows you to balance your life the way you want.

And Big Night, I think by the end the brothers find that balance, when they touch each other on the shoulder over breakfast and it's understood that what should never have driven them apart almost drove them apart. I think that's a true moment.

Remember Graham Green's dictum that childhood is the bank balance of the writer? I think that all writers feel alienated. Most of us go back to an alienated childhood in some way or another. I know that I do.

In 1844, there was a balance of perhaps of a couple of thousand dollars on the cr side.

You need a balance in life between dealing with what's going on inside and not being so absorbed in yourself that it takes over.

We believe, in fact, that the one act of respect has little force unless matched by the other - in balance with it... The acting out of that dual respect I would name as precisely the source of our power.

You can't have too much of everything, you must have a balance, that's very important.

I've watched those shows my whole life - being on one is like a dream. It's hard to balance that dream with the fact that this is the Edie I've known my whole life.

Action is at bottom a swinging and flailing of the arms to regain one's balance and keep afloat.

I think what I'm going to do is get more balance in my life to still be able to go out and play the hard rock 'n' roll and do what I like to do in music.

We have managed to acquire $13 trillion of debt on our balance sheet. In my view we have nothing to show for it. We haven't invested in our roads, our bridges, our waste-water systems, our sewer systems. We haven't even maintained the assets that our parents and grandparents built for us.

I balanced all, brought all to mind, the years to come seemed waste of breath, a waste of breath the years behind, in balance with this life, this death.

It sounds extraordinary but it's a fact that balance sheets can make fascinating reading.

We're on the verge of a financial collapse unless we balance the budget, and that means some really, really tough decisions.

Feeling is the consciousness of the resulting conditions - of success, failure, equilibrium, compromise or balance, in this continuous rivalry of ideas.

But I also like to be in control, like anyone else. I try to achieve a balance.