McGraw-Hill
Headquarters: 1221 Avenue of the Americas
New York, NY 10036
Phone: 212-512-2000
Employees: 21,600
CEO: Harold McGraw III
Stock Symbol: MHP
Website: http://www.mcgraw-hill.com
Career Site
McGraw-Hill is a leading provider of financial services, education and business information through leading brands including Standard & Poor's, BusinessWeek, JD Power and McGraw-Hill Education.
Standard & Poor's is the world's leading provider of independent investment research, indexes and ratings. It is widely recognized for investment data and analysis that are used around the world by financial decision-makers to help create growth and manage wealth. Among its many products are the S&P 1200, the premier global equity performance benchmark; the S&P 500, the premier U.S. portfolio index; and credit ratings on more than 220,000 securities and funds worldwide. Other businesses include credit market services and investment services.
The company said it will sell BusinessWeek magazine to Bloomberg LLP by the end of the year. Business Week is the only weekly business magazine in the U.S. but has been hurt by steep drops in advertising and competition from the Internet.
McGraw-Hill also publishes Aviation Week, a trade magazine for the aerospace and aviation industry, as well as publications for energy (Platts) and construction (McGraw-Hill Construction) industries.
The company also owns four ABC-affiliate TV stations in Denver, San Diego, Bakersfield and Indianapolis.
McGraw-Hill is also a leading producer of textbooks and multimedia material from pre-school to college level. It is also a leading provider of reference and trade publishing for the medical, business, engineering and other professions.
The company has over 280 offices in 40 countries.
In 2008, the company reported revenues of $6.4 billion and net income of $799.5 million.
McGraw-Hill said it would cut 550 jobs in July mostly in its education and media units.
History
Founder James H. McGraw, a teacher in upstate New York, began working in publishing in 1884, and purchased the American Journal of Railway Appliances in 1888. At the same time, co-founder John A. Hill was working as an editor at Locomotive Engineer. Over the next 15 years, the two men pursued their separate careers specializing in technical and trade publications. In 1899, McGraw incorporated his publications under the heading of "The McGraw Publishing Company;" in 1902, John Hill followed with "The Hill Publishing Company."
The two men had crossed paths over the years and their mutual interest in science and technology led to an alliance in 1909. The book departments of the two publishing companies merged to form the McGraw-Hill Book Company. John Hill took the office of President; James McGraw became the company's Vice-President. The rest of the functions of the McGraw and Hill companies continued their separate existence, buying and expanding on numerous publications.
The partnership was developing well, but the sudden death of John A. Hill in 1916 was a blow to the growing company. Business continued despite the loss, with James McGraw taking over as Book Company President. In 1917, the remaining parts of the companies merged to form the McGraw-Hill Publishing Company, Inc. and moved into the Hill Building on Tenth Avenue in New York City. Much as the companies merged, some of the publications that duplicated each other merged as well-Hill's Engineering News and McGraw's Engineering Record became McGraw-Hill's Engineering News-Record.
Benefits
- Medical Coverage
- Prescription, Dental and Vision Coverage
- Flexible Spending Accounts
- Disability Coverage
- Life Insurance
- Long-term Care Insurance
- 401(k) Plan - The corporation matches the first 6% of your pre-tax contributions, as follows:
· The first 3% of pay that you contribute pre-tax is matched dollar for dollar.
· The next 3% of pay that you contribute pre-tax is matched at $0.50 on the dollar.
- Employee Assistance Plan - Professional counseling service
- Retiree Coverage - Healthcare benefits for retirees
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