Golden Earnings for the Golden Arches; European Bitcoin Victory; Say It Ain’t So: Lego Brick Shortage

You deserve a break today…

Image courtesy of tiverylucky/FreeDigitalPhotos.net

Image courtesy of tiverylucky/FreeDigitalPhotos.net

Looks like McDonald’s CEO Steve Easterbrook’s job looks pretty secure for the foreseeable future now that McDonald’s posted some awesome third quarter earnings. The numbers were so good that shares of the company jumped 8% and took the Dow Jones Industrial Average up more than 250 points as well. Sales in the U.S. brought a nice little surprise of a 1% increase. And even though wage raises and benefit improvements did take a big chunk out of the Golden Arches operating costs, the company still earned $1.31 billion and $1.40 per share. That was a 23% jump over last year’s $1.07 billion with $1.09 added to shares, and marked the first time in two years that McDonald’s saw improved sales.The much-hyped turnaround plan is actually working with thanks in part to McDonald’s All-Day Breakfast and the introduction of the Premium Buttermilk Crispy Chicken Deluxe Sandwich. Try saying that one five times fast. Or even three. Some franchises, however, are’t digging this all-day breakfast because, besides adding many more menu items, those breakfast items tend to be cheaper and negatively affect sales at some stores. Revenue fell to $6.62 billion, but it was only a 5% drop from last year’s $6.99 billion. And considering that Wall Street expected  McDonald’s to pull in only $6.41 billion and $1.27 per share, nobody’s too upset over that 5% dip.

VAT do you want already?

Image courtesy of Victor Habbick/FreeDigitalPhotos.net

Image courtesy of Victor Habbick/FreeDigitalPhotos.net

Score one for Bitcoin as the virtual currency is considered tax-free. Well, in Europe, anyways. Just like plain old, regular, not-so-virtual cash. Europe’s highest court ruled that  Bitcoin and other virtual currencies are on par with real money and European citizens can scoop up as much of the virtual stuff as they want without having to pay VAT – a  tax that presumably taxes the nerves of anyone who has to pay it. This piece of Bitcoin drama began with Swedish Bitcoin operator David Hedqvist who felt that the currency should not be taxed. However, the Swedish tax authority, Skatteverket, disagreed vehemently and brought the issue to EU’s highest court. And while David Hedqvist is no doubt celebrating this recent victory, there is still one aspect about Bitcoin that has yet to be determined: is it legal tender? To be continued…

Everything is not Awesome…

Image courtesy of  nonicknamephoto/FreeDigitalPhotos.net

Image courtesy of nonicknamephoto/FreeDigitalPhotos.net

Scary news from the world’s largest toymaker, Lego. It seems the Danish plastic brick manufacturer might not have enough brick’s to go around. But rest assured, that here in the States, our plastic brick supply is safe. For now. With The Lego Movie, Star Wars and The Avengers all part of the Lego family, the company can’t seem to make enough toys to keep up with the demand. In just the first half of the year, sales for the toys were up a whopping 18%. To help alleviate some of the shortage, Lego will be expanding three factories in Mexico, Hungary and, of course, Lego’s hometown in Denmark. The company even has plans to expand in China. But everything may still not be awesome in certain parts of Europe, as they are likely to be affected by this very tragic plastic brick shortage.

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