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Elon Musk on MacKenzie Scott giving away $26 billion of her fortune: 'Sadly,' it makes the world a worse place

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MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year

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Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster
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McDonald’s Is Pulling This Menu Item After It Fell Flat With Millennials

By
Claire Groden
Claire Groden
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By
Claire Groden
Claire Groden
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April 14, 2016, 8:24 AM ET
Inside A McDonald's Corp Restaurant
Photograph by Tim Boyle—Bloomberg via Getty Images
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McDonald’s (MCD) has chartered a turnaround course thanks to new ideas like all-day breakfast, but along the way, some of its other big ideas have fallen flat.

The fast-food chain began phasing out its Premium McWraps last summer, and the menu option has almost entirely disappeared from menus across the country, according to Bloomberg. It’s a reversal from McDonald’s enthusiastic roll-out of the product in 2013, when executives expected the wraps to win big with millennials.

The McWraps were supposed to be McDonald’s entree into offering fresher products. The company even spent two years setting up a cucumber supply chain to introduce that vegetable to its menu for the first time. According to one leaked memo cited by Bloomberg, McDonald’s called the McWrap its”Subway buster” for its potential to compete with the sandwich chain for millennials craving fresh options.

 

But the McWraps took 60 seconds to assemble—20 seconds alone just to steam the tortilla—compared to the 10 seconds required to build a burger, according to the New York Times. For a restaurant whose main selling points are convenience and speed, that complexity frustrated franchisees and turned off customers. Plus, the wraps simply weren’t a hit.

Fortune has reached out to McDonald’s for comment and will update this post with the company’s reply.

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