McDonald's to return $10 billion to shareholders

McDonald's Corp. (NYSE:MCD), the world's largest restaurant chain, today said that it will be returning up to $10 billion to its shareholders over the next 18 to 24 months. CEO Jim Skinner also detailed some of the chain's plans during a presentation in New York this morning.

Skinner indicated that McDonald's was working to lower the level of trans fats in its french fries. Good grief -- it's hard to understand why the world's largest food-service company, with huge resources at its disposal, can't keep up with smaller chains that have already announced the elimination of trans fats from their menus within the next few years. Here's my advice to McDonald's: be an example and get this done to the benefit of all your customers. Also, design an entire marketing campaign around this effort and draw even more customers into your stores.

Skinner did say that the company plans to comply with New York City's law to limit the level of trans fats in restaurants if, or when, a city ordinance to that effect is passed there. Chicken salads and low-priced chicken snack wraps have played integral roles in the growth rate of McDonald's this year, Skinner said and according to him, the chain was working on a new premium chicken salad and versions of the chicken snack wrap. Eek -- don't fix what isn't broken!