The last sign of Iceland‘s foray into globalization is gone. The small Arctic country is going to lose its three McDonald’s restaurants. Three locations were owned by Lyst Hr., all in the capital city, Reykjavik. According to Lyst, the economic situation was just too difficult, especially since the company had to by its supplies from Germany. The decline in the Icelandic krona relative to the euro just pushed costs too high. In order to be profitable, the Icelandic Big Mac would have to become the most expesnive in the world, at $6.36. Right now, it’s priced at $5.29, with the most expensive in Norway and Switzerland at $5.75.
Okay, we all know that the print industry is completely and totally screwed. Circulation is plummeting around the world … leaving ink jockeys little hope of keeping their jobs for the rest of their lives (which is really their only goal anyway). They may have hope, however, thanks to an unusual French bailout plan. Leave it to French job protectionism to set a model for the rest of the world. The folks at the NY Times – which rain this story – must be salivating right now.