Word: kroc
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...little more than the minimum wage of $ 1.60 an hour. The Nixon Administration last spring proposed raising the hourly minimum to $2.20 in 1975 but partially exempting students who work part time, a category that covers most of the McDonald's work force. Washington skeptics, who note that Kroc openly gave $250,000 to the Nixon campaign last year, dubbed the measure "the McDonald's bill." Congress accepted the special student provision but Nixon last week vetoed the minimum wage bill as inflationary...
...reason for the enthusiasm may be that McDonald's employees who work hard can go high quickly in the expanding business. President Turner started frying hamburgers at Kroc's first franchise near Chicago in 1956. He rose so rapidly as an "operations man," keeping an eye on new stores, that he never had time to claim the license that Kroc promised him. McDonald's also pays close attention to suggestions from behind the counter. Several of the chain's new products have originated in the minds of low-ranking employees. Among them: Egg McMuffin...
...other chains all fell on hard times as competitors proliferated. McDonald's will have to scramble harder and harder to stay ahead of the pack. At present, a McDonald's outlet requires a population base of 30,000 to support it in the style to which Ray Kroc is accustomed. The company has already exploited many of the best locations...
Show Tune. Kroc nevertheless foresees ever greater expansion. One bright hope is, paradoxically, a return to the city. Swallowing such old fears as crime and high real estate costs, McDonald's has begun opening dozens of downtown outlets-and all pull in high revenues. Another possibility is what Kroc calls "internal growth," that is, wringing more sales out of each outlet...
...chairman intends to stick around to oversee that growth too. His undiminished vigor is evident to anyone visiting Oak Brook headquarters where the offices are open cubicles and Kroc's shouting rings through them all (executives who need some peace and quiet retire to an elaborate "think tank" equipped with a 700-gal. waterbed...