McDonald’s vs Burger King - Feeding Frenzy | 3
Business Wars
Audible
4.6 • 13.5K Ratings
🗓️ 14 January 2019
⏱️ 26 minutes
🧾️ Download transcript
Summary
By the mid-1960s, Americans have developed a taste for fast, delicious, affordable food — and they’re demanding more. U.S. fast food franchises — McDonald’s, Burger King and Burger Chef — know that if they want to feed America and win the burger wars, they’re going to have to grow.
But Wall Street is still reluctant to invest in a bunch of burger chains. And Ray Kroc is about to learn firsthand that those who can’t stand the heat need to be forced out of the kitchen.
Support us by supporting our sponsors!
See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Transcript
Click on a timestamp to play from that location
| 0:00.0 | Hey, prime members, you can listen to business wars, add free on Amazon music. |
| 0:04.8 | Download the app today. |
| 0:07.0 | January 1965, McDonald's head office Chicago. |
| 0:17.2 | The accountants from Arthur Young look uneasy at each other. |
| 0:21.1 | They've just informed McDonald's president Harry Sonneborn they won't approve the |
| 0:25.5 | company's accounts. |
| 0:27.6 | The Sonneborn is just staring into the middle distance. |
| 0:31.4 | The head accountant repeats the message. |
| 0:34.3 | So yes, we're not going to sign off on the books. |
| 0:37.5 | The method you're using won't fly with the New York Stock Exchange. |
| 0:40.6 | Finally, Sonneborn responds. |
| 0:43.5 | Will our accountants say the method's okay? |
| 0:46.4 | Maybe, but we have higher standards. |
| 0:48.4 | Look, we're a large and prestigious accounting firm at our reputation as a state. |
| 0:53.5 | Your accounting future rental income from franchisees is income today. |
| 0:58.4 | You know, that's not generally accepted practice. |
| 1:01.4 | You'll have to redo the past five years' books. |
| 1:04.1 | But we've only got two weeks to file the accounts with the SEC ahead of our IPO. |
| 1:09.0 | Yes, that is a lot of work for you. |
| 1:11.5 | But unless we approve your books, McDonald's initial public offering won't happen. |
| 1:16.8 | Sonneborn's spent a year preparing McDonald's to join the stock market. |
| 1:21.0 | The IPO is critical to infusing the company with cash to stay ahead of Bergerchef and |
... |
Please login to see the full transcript.
Disclaimer: The podcast and artwork embedded on this page are from Audible, and are the property of its owner and not affiliated with or endorsed by Tapesearch.
Generated transcripts are the property of Audible and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.
Copyright © Tapesearch 2026.