Jollibee coproration
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The Philippines is a huge embarrassment to McDonald's. Filipinos are as mad about American culture as they are about fast food. No matter how poor, Filipinos like to splash out on fast food regularly. In 1981, when McDonald's golden arches first went up in Manila, the capital, everybody assumed that McDonald's would rule the Filipino market. At the time, Tony Tan was a local entrepreneur who had just opened a number of burger restaurants. His friends advised him to buy a McDonald's franchise. Instead, Tan decided to do battle with the invading giant. Within four years, Tan's hamburger chain, Jollibee, had become market leader. Today, with over 400 stores, Jollibee has 69% market share while McDonald's has only 16%. Burger King had an even tougher time in the Philippines and is trying to sell out but cannot find a buyer...