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Jan 23, 2008 -- Fast-food price war heats up between BK and McD's

There's a price war going on in the fast food world. At the center of the storm is the humble double cheeseburger. Burger King has announced plans to slash the price of its burger -- which is 30 percent larger than the one offered at McDonald's -- from $1.99 to $1. Meanwhile, McDonald's is getting ready to dump the double cheeseburger from its dollar menu altogether. McD's franchisees are complaining that they're losing money on every double cheeseburger they serve. So it will be interesting to see what happens next between the 2 fast-food giants. One thing is for sure: This price war is a sign that people are cutting back on discretionary expenses such as eating out now that the economy is slowing. As for Clark, his infatuation with fast food goes back to high school. It was then that his brother came home from law school and made a label for Clark that read "carry-out kit" -- the old-fashioned name for fast-food restaurants. Clark was such a fan even back then that he hung it on the headboard of his bed!

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