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.

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.

Natural resources are so vast that no single individual or business is going to protect them; they don't have an incentive to.

The bronze powder business, however, no longer required my personal attention, and was well managed by those I had chosen as the guardians of a secret, which was long and honourably kept.

I have done things politically, and I've been running a business at the same time, but I sort of joke that to some extent I do more than most legislators have done in their whole careers, and I've been doing it as a part-time job.

Howard Hughes himself was a regular at the restaurant, and in a way it became his headquarters, too. Howard had recently relocated to Las Vegas, so when he wanted to do business in Los Angeles, he went into the back of our restaurant to use the telephone.

Prosperous farmers mean more employment, more prosperity for the workers and the business men of every industrial area in the whole country.

My parents were amazing people who had no business being together - and they knew it.

We mean by "politics" the people's business - the most important business there is.

Slovakia's joining the OECD in 1999 is totally dependent on meeting economic reforms required such as transparency and legislation that permits fair and open conduct of trade and business.

The way the business things work in Russia is you have to meet people, you have to go through a certain amount of etiquette and business things are done just simply by a shake of the hand and whether they like you or not.

I make no claim to being a business genius. You can make so much money in this business that it loses its value.

It costs a great deal of money to do a musical, and the more money involved, the more big business influences the artform.

It's a very hard and competitive business in which you have to fight every day in order to impose yourself.

I know the history of the record business so well because I followed Billie Holiday into the record studios. It was so primitive compared to the sophisticated business today.

Chicago kept industry, attracted new business, became the center for convention trade and transportation.

I have been, and will go on, fighting that damnable, dirty, rotten business with all the power at my command.

All business success rests on something labeled a sale, which at least momentarily weds company and customer.

I knew an actor's career goes up and down and back up again. Your standing in this business can't be your whole identity; otherwise, you're doomed.

The surest way to return to the people's business is to listen to the people themselves: We need to drop this whole scheme of federally controlled health care, start over, and work together on real reforms at the state level that will contain costs and won't leave America trillions of dollars deeper in debt.

Again, I say I will be glad to tell what songs I have ever sung, because singing is my business.

You have to be a star to be in this business.