Day 123 - 09 May 95 - Page 03
1 A. Yes, I own shares in both companies. That is correct.
3 Q. Maybe while we are on that subject, do you remember when
4 you gave your evidence many months ago I asked you about
5 shares and you said that is something that you might check
7 A. Well, the number of shares that I have -----
9 MR. JUSTICE BELL: No. It was in relation to what proportion of
10 McDonald's Corporation stock might be held by what we call
11 private individuals and by institutions like pension funds
12 and son.
14 MR. MORRIS: Did you check that at all or do you know?
15 A. I do not have the exact breakdown of the percentages,
16 but the majority of stock is held by pension funds.
18 Q. And investment ---
19 A. Investment ---
21 Q. -- companies?
22 A. -- companies, yes.
24 Q. Would it be fair to say that 56 per cent of the shares in
25 1994 were owned by institutions?
26 A. That is -- I do not know exactly but that percentage
27 sounds familiar.
29 Q. I have some documents, I have not disclosed them because it
30 has not been necessary.
32 MR. RAMPTON: I do not want documents whose relevance, I am
33 bound to say, I cannot see.
35 MR. MORRIS: That is why I asked a simple question.
36 (To the witness): The stock options -----
38 MR. JUSTICE BELL: What is this directed at?
40 MR. MORRIS: I am having a look at the McDonald's Corporation to
41 see, effectively, what its purpose is and where the profits
42 go to.
44 MR. JUSTICE BELL: What has that to do with this leaflet?
46 MR. MORRIS: It goes to their motivation and purpose in life, if
47 you like.
49 MR. JUSTICE BELL: I do not accept that. I do not see any
50 relevance at the moment in this. You know that the first
51 corporation is a commercial entity designed to make
52 profits. There may be an argument here and there about
53 where the balance lies between profits and other
54 considerations, but that is common ground if it is a
55 commercial entity.
57 You questioned Mr. Beavers last year about why the action
58 was brought. He gave you various answers in relation to
59 protecting what he saw as its reputation. If you have
60 thought of further things you want to ask on that, do, but