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  "documentTitle": "McDonald's Corporation (MCD)",
  "authorId": "01_Pershing_Square",
  "authorName": "Pershing Square Capital Management",
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  "presentationDate": "2006-01-18 00:00:00",
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      "kind": "callout",
      "text": "Question: How will this change a franchisee's day-to-day interaction with McDonald's Corporation?",
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      "text": "There will be no changes. A franchisee's day-to-day interaction with McDonald's will not be affected by the creation of a publicly traded McOpCo.",
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      "text": "McOpCo's management will be able to push back on lower margin / low return new products introduced by Corporate McDonald's\nMcOpCo will improve the check and balance mechanisms in the system\nTesting at McOpCo on new products will be a better benchmark for how a product will perform throughout the system\nMany McOpCo stores in the U.S., Canada and U.K. will be up for refranchising\nFranchisee representation on McOpCo's Board will improve McOpCo's credibility and communication with the system",
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      "text": "However, the franchisee community may find a strong ally in a publicly traded McOpCo",
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      "text": "Answer: There will be no changes. A franchisee's day-to-day interaction with McDonald's will not be affected by the creation of a publicly traded McOpCo.",
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      "text": "Addressing Potential Franchisee Questions",
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