Pershing Square
objective unlock shareholder value at brand restaurant operations over company operated restaurants collects a royalty of of sales real estate franchise controls substantially all of its real estate earns of unit sales as rent for real estate it does not own it pays a rent expense and generates income through subleases approximately restaurants where receives of unit sales sal | Pershing Square
Company
Deck Type
Deck date
January 2006
Slide
17 of 58
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