Well, I thought I might help out those execs a little, as it seems like they're missing something here. The bottom line from this side of the counter is this: your food isn't all that great, and certainly not worth the price you charge for it.
Think about it. If you go and get a "Value Meal" you're going to spend $7 to $8 for it. I can go to my favorite Chinese buffet and get more and better food for not much more than that, and it usually includes ice cream or a couple of cookies.
McD's - your niche is "fast, cheap, familiar". Your price point is $5. Do what you have to do to stay in that range and see what happens.