In the late 1950s, McDonald’s executives discovered that being in the real estate business was more profitable than focusing solely on the food business. McDonald’s founder Ray Kroc had a business partner, Harry J. Sonneborn, who devised a plan to purchase or lease the land on which nearly all McDonald’s restaurants would be located. He then charged franchisees a monthly rental fee for the land, or a percentage of their sales, whichever was greater. The rest, as they say, is entrepreneurial history.
Forget True Detective. A noir-ish saga is unfolding in the advertising world, complete with favoritism, kickbacks, and shady deals. Who wants the movie rights?
A new report from the Association of National Advertisers (ANA), which represents many of the largest advertisers, found...Read More