And so if your competitors aren't growing, if there isn't a competitive reason to grow, and you want focus and discipline to add customers to existing stores, you adjust your strategy.

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.

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.

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.

I think this year we'll open up 900 gross, we're closing some, so the net count is lower, but the 900 are spread all over the place. Some of the closures are relocations, where you're moving it to another place in the marketplace.

McDonald's is almost 50 years old. For 47 years we had a pretty consistent track record of being able to deliver admirable sales.

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.