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OAK BROOK, ILL. - While fastfood fare and jobs regularly are fodder for comedy routines, quick-service behemoth McDonald's Corp. is having its own good laugh as it prepares for its upcoming golden anniversary on April 15.

Grown from a single burger joint into the world's largest hamburger chain, McDonald's at 50 boasts $19 billion in revenues and 30,000-plus namesake restaurants in 119 countries. Over the years its Big Mac and fries, company spokesman Ronald McDonald and the Golden Arches have become universally recognized figures. With operating income last year exceeding $3.5 billion, McDonald's has grown into a widely admired icon of corporate America.

"You read so much today about companies having a certain shelf life, and yet we are going stronger than ever at 50," said Ralph Alvarez, president, McDonald's North America. "If you stay relevant and stick to your core values and also change with the times, that is what I think is important."

Anniversary festivities are expected to kick off in Chicago with the April 15 unveiling of the chain's new flagship restaurant, which replaces the "Rock 'N' Roll McDonald's" that had been a tourist attraction since it opened in 1983. Later that day the company will host a private gala featuring former U.S. secretary of State Colin Powell and pop superstar Elton John.

The McDonald's empire traces its roots back to April 15, 1955, when company founder Ray Kroc opened his first restaurant at the age of 52 in Des Plaines, 111.

Kroc knew he was onto something when in one day the store generated more than $350 in sales from a nine-item menu, including 15-cent burgers and 20cent milk shakes.

Still, Kroc did not create the McDonald's concept. He discovered it in 1954 when it was just a small hamburger drive-in in San Bernardino, Calif. At the time, Kroc...

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