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Splitting McD into two companys would be a disaster for shareholders and owner/operators.
Clearly, there is a lot of value to be unlocked in MCD real estate. No question about it. However, before selling its soul to the REITs how about increasing its sales and reducing the costs in the regions. MCD remains bloated in many areas and there is a lot of value that can be unlocked by further cutting staff and meaningless programs. There remains a lot that can be done before selling the real estate.
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