"The hamburger end of the fast-food industry is facing the long-
awaited problem of saturation," says analyst Michael Culp at the brokerage firm of Bache Halsey
Stuart Sheilds. "It's increasingly difficult to open more restaurants, and it's harder to sell more
hamburgers." Thus, to maintain their growth momentum, the industry's big names are moving
aggressively to steal each other's customers, enlarge their menus, and spawn new fast-food
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