Word: mcdonald
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Dates: during 1970-1979
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...Franchise Holder. Charles E. Johnson, 43, got into the franchised fast-food business through a combination of belated Government aid and militant pressure. The Small Business Administration rejected his first application for a loan to buy a McDonald's hamburger franchise near a Negro area of affluent Shaker Heights, a Cleveland suburb, because officers thought the location he wanted would not produce enough income to repay the loan. They did not realize, says a Cleveland Negro leader, that to blacks "the hamburger stand is breakfast, lunch and dinner-they don't just buy hamburgers as a snack...
Meanwhile, a neighborhood organization had started a boycott to back demands for more black control of local businesses; it cut sales of the area's only existing McDonald's stand by 90%. The owner agreed to sell for about $200,000, and Johnson got his SBA loan, on terms he sardonically summarizes: "Thou shall not buy a Cadillac. Thou shalt not take a trip to Bermuda...
RICHARD T. MCDONALD...
...Peter admits, "I was trying to grab all the straight paraphernalia ? the country club, have a silver pattern register at Tiffany's." His new wife, Susan, was the stepdaughter of Noah Dietrich, an ex-assistant of Howard Hughes. His best man was a young millionaire named Eugene ("Stormy") McDonald...