• Wall Street Journal, Thursday, March 18, 2010 10:45 AM

McDonald's executives and Coca-Cola executives are trying to convince franchisees that selling fountain drinks for $1 this summer, regardless of the size, will make their outlets a destination for thirsty consumers, Paul Ziobro reports.

Franchisees in most markets sold large sweet tea for $1 last year, but headquarters is pushing for more drinks in more markets and also wants the promotion to run 150 days instead of the 100 days in prior years, sources say. A McDonald's spokeswoman says more than 90% of U.S. restaurants sold drinks for $1 last summer, which "should give you an indication of its success for our business," but she refused comment on any current plans.

McDonald's wants to poach customers from other fast-fooders as well as from convenience stores like 7-Eleven and Circle K. The move would also introduce customers to McDonald's smoothies and frappes lineup that will debut nationally around mid-year.

Read the whole story at Wall Street Journal »