McDonald's (NYSE:MCD) handed investors a turnaround plan last month, and investors handed back a lower share price. At its investor day in Chicago, the company committed roughly $8.5 billion in support for its franchisees through 2036. CNBC reported that the stock fell as the spending plan came into view, capping a rough stretch for fast food's longtime safe bet. The business underneath is simpler than the mood around it. McDonald's owns the brand and much of the real estate beneath its restaurants. Independent franchisees run most of the kitchens and pay the company rent and royalties.
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