Everybody sticking up for ray Kroc, saying that he did nothing wrong. What about the hand shake promise of royalties that he never went through with. It was a straight up lie and jerked them out of hundreds of millions
shareI know Ray Crock famously struck a deal with J.R. Simplot be the exclusive supplier his french fries with only a handshake. That happened in the late 40's and is still being honored today.
shareWikipedia:
"It is alleged that as part of the buyout Kroc promised, based on a handshake agreement, to continue the annual 1% royalty of the original agreement, but there is no evidence of this beyond a claim by a nephew of the McDonald brothers. Neither of the brothers publicly expressed disappointment over the deal. Speaking to someone about the buyout, Richard McDonald reportedly said that he had no regrets."
Thank you...
It also makes no sense that the brothers would be getting a higher percentage of the royalties AFTER selling out than they were getting before.
The brothers were only getting .5% from the stores before selling out.
There was no royalty deal.
Sound stupid now?
Neither brother in their lifetime complained about not getting royalties. The only complaint was when Kroc died and McDonalds issued press releases calling him the founder. Then Dick McDonald complained that he was not the founder he and his brother were.
Never once did the brothers file a single lawsuit for those royalties.