"McDonald's is Not Done Going Up" -Cramer (MCD)

August 14, 2008 3:25 PM EDT

McDonald's (NYSE: MCD) Vice Chairman and CEO, James Skinner, talked with Jim Cramer on today's mid-day edition of Mad Money. Introducing the guest, Cramer reminded viewers of his show that he has been behind McDonald's stock for 45 points, but said he is not going anywhere, implying that shares of the American icon are not done going up yet.

Cramer and Skinner began by discussing McDonald's overseas prospects, focusing on China, where the company is currently serving the athletes, media and fans out of four restaurants at the Olympics. Outside of the immediate area, Skinner said that McDonald's has 101 restaurants in Beijing alone.

Throughout the interview, however, the McDonald's exec continually reiterated the company's stance that quality tops quantity. He said McDonald's has recently changed its model and is now more focused on providing better services, rather than focusing on putting up more and more restaurants. When Cramer asked Skinner if he believes McDonald's could be in every country across the globe, Skinner responded with a stern "No". The CEO said McDonald's is already everywhere it wants to be and is now turning its attention to re-imaging out-of-date stores around the world.

McDonald's Corporation, together with its subsidiaries, franchises and operates McDonald's restaurants worldwide.

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