Fmr. McDonald's USA CEO: Ocasio-Cortez 'making a statement' on values

Former McDonald's USA CEO Ed Rensi approves of some of the ideas of Alexandria Ocasio-Cortez’s, D-N.Y. He told FOX Business on Thursday that capitalism works, but buying a $7 croissant is a “bad idea.”

“Well, I wouldn’t pay $7 for a croissant, no matter where I bought it — whether Paris or anywhere else,” he said in regards to AOC’s Twitter rant comparing the minimum wage issue to a $7 croissant.

“But the reality of it is, she’s making a statement about the value of workers and the value of products and I don’t disagree.”

In Rensi’s opinion, a capitalist system that allows the free market to determine the wage works best for the American economy.

However, Rensi, in response to Target raising its minimum wage to $13, said that businesses are trying hard to find employees.

“I think Target's move is simply a reflection of the fact that we’re near full employment and it is extremely difficult to get employees to work,” he said.

“I had dinner with a bunch of McDonald’s franchisees the other night and they are struggling to find employees at any price," he added. "I see some of them [offering] $16 [and] $17 per hour and they still can’t find employees.”

Rensi also agreed with the notion that the government fails its citizens — especially when it comes to the Flint water crisis and some of the living conditions within low- and moderate-income residents throughout New York City. In his opinion the government is incompetent.

“[The] government is extremely inefficient and they ought to get out of business altogether,” he said. “You look at the Housing Authority in New York City and the tens of thousands of apartments that have lead paint in them, ceilings falling down, no boilers — the government is inefficient and De Blasio is grossly underperforming what his responsibilities are.”

Rensi also said that the government is neglecting to resolve the Flint water crisis and is wasting a ton of money.


“They know what the solution is. They need to put phosphate in the water to trap all the lead. They need to get rid of all the lead pipes,” he said. “They’ve had multiple millions of dollars spent. It’s grossly inefficient and they are not solving the problem. I don’t get it.”

Rensi added that “all” of the current members of the government “ought to be thrown out in the next election.”