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.

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.

The individual organs follow the same pattern as the whole organism, i.e. they have their period of growth, of stationary, maximum activity and then of aging decline.

I take great pride in having been able to overcome the Asian financial crisis and seeking the opportunities available to bring about an unprecedented growth in the economy.

Conformity is the jailer of freedom and the enemy of growth.

Genius is not a possession of the limited few, but exists in some degree in everyone. Where there is natural growth, a full and free play of faculties, genius will manifest itself.

The investor of today does not profit from yesterday's growth.

Promoting job creation and economic growth in the Hudson Valley is one of my top priorities in Congress.

We will see the increasingly rapid rate of growth we've already been seeing in Colorado continue.

The growth of technology is such that it is not possible today for a nuclear physicist to switch into medical physics without training. The field is now much more technical. More training is needed to do the job.

We have stabilized our economy. We took over a very sick economy, and we were hemorrhaging 750,000 jobs a month. We have stopped the hemorrhaging. In fact, we had 140,000 job growth last month. And that's what I call progress.

We got to know the competition very well. In the '50s popcorn made a big growth in sales. Our main push was to produce the best quality and sell in quality retail outlets.

Happiness, contentment, the health and growth of the soul, depend, as men have proved over and over again, upon some simple issue, some single turning of the soul.

It's hard to find a way forward. When you're 18 it happens in huge chunks every day, but after 20 years, growth is much more costly.

I think that obstacles lead to growth and ultimately, the most learning I've done in my life is between jobs.

Well, WorldCom's growth exploded in the Clinton years, there's no question, there's no disputing that.

Growth is a painful process.

The organizational architecture is really that a centipede walks on hundred legs and one or two don't count. So if I lose one or two legs, the process will go on, the organization will go on, the growth will go on.

Modern techniques have torn down state frontiers, both economical and intellectual. The growth of means of transport has created a world market and an opportunity for division of labor embracing all the developed and most of the undeveloped states.

Technological innovation is indeed important to economic growth and the enhancement of human possibilities.

Research and development needs permanent tax credits to build the technology that spurs our growth. But no government programs alone can get America's students to study more science and math; parents must push and help their children to meet this goal.

Globalization presumes sustained economic growth. Otherwise, the process loses its economic benefits and political support.