So Europe's a big driver. And at one point, if the euro hadn't devalued, they would have been making as much money as the US with half the stores. Returns were higher.

Some of the analysts were saying, Now you're a cash cow, there's no growth at all, pay it all out in dividends, give me it all, you can't invest wisely.

Playtime and toys are good for kids, or they wouldn't buy them. McDonald's can provide that experience. And having dinner with the family is good for kids.

But we had a pretty diversified portfolio of businesses around the world and things tended to offset each other. But one or two years ago, we had a lot of things happening at the same time.

But, on balance, we seized the marketplace. We've got a great infrastructure. And yes it's struggling in some areas because of some external factors and some internal factors.

But you know the second month I was here I put out a healthy lifestyles directive. The pundits will say it was because we were sued. Well that's what they say. It was never about that.

I talked about 12 to 18 months, and that's about reaffirming our foundation for sustained growth: getting the discipline back, getting the basics right, getting the customer focus back... so by the end of next year, I hope most of that's in place.