I don't think we're going to get the instant value that we would have from the spin-off, but we'll get it over the long term and that's just fine.

We want to unlock significant shareholder value. What we're trying to do is help the company reconfigure itself.

We are applauding the plan for adopting key strategic initiatives that will create a lot of shareholder value. I am not going to run a proxy contest.

I think good private equity investors create a lot more economic value than they destroy.

I think I spin faster.

Twenty-seven percent of the McDonald's system is operated by the parent company. If we can make that 27 percent operate more entrepreneurially, that increases I think the overall success of the whole system.