McGraw Hill Financial

McGraw Hill Financial, Inc.

Type	Public
Traded as	NYSE: MHFI S&P 500 Component
Industry	Financial services
Founded	1917
Headquarters	55 Water Street New York City, U.S.[1]
Area served	Worldwide
Key people	Douglas L. Peterson (President and CEO)
Products	Financial information and analytics
Revenue	US$ 4.9 billion (2013)[2]
Operating income	US$ 1.4 billion (2013)[2]
Net income	US$ 1.5 billion (2013)[2]
Total assets	US$ 2.9 billion (2013)[2]
Total equity	US$ 1.3 billion (2013)[2]
Number of employees	17,000 (May, 2013)[3]
Subsidiaries	Standard & Poor's J. D. Power Platts S&P Dow Jones Indices S&P Capital IQ[3]
Website	www.mhfi.com

1221 Avenue of the Americas, the headquarters of McGraw-Hill

McGraw Hill Financial, Inc. is an American publicly traded corporation headquartered in New York City. Its primary areas of business are financial information and analytics. It is the parent company of Standard & Poor's Ratings Services, S&P Capital IQ, Platts, J.D. Power and Associates, and is the majority owner of the S&P Dow Jones Indices joint venture.

Corporate history

The predecessor companies of McGraw Hill Financial have history dating to 1888, when James H. McGraw purchased the American Journal of Railway Appliances. He continued to add further publications, eventually establishing The McGraw Publishing Company in 1899. John A. Hill had also produced several technical and trade publications and in 1902 formed his own business, The Hill Publishing Company. In 1909 both men, having known each other's interests, agreed upon an alliance and combined the book departments of their publishing companies into The McGraw-Hill Book Company. John Hill served as President, with James McGraw as Vice-President. In 1917, the remaining parts of each business were merged into The McGraw-Hill Publishing Company, Inc.^[4] In 1986, McGraw-Hill bought out competitor The Economy Company, then the United States' largest publisher of educational material. The buyout made McGraw-Hill the largest educational publisher in the United States.^[5]

In 1979 McGraw-Hill Publishing Company purchased Byte magazine from its owner/publisher Virginia Williamson who then became a vice-president of McGraw-Hill.

McGraw-Hill Publishing Company, Inc became The McGraw-Hill Companies in 1995, as part of a corporate rebranding.^[6]

In 2007, McGraw-Hill launched an online study network, GradeGuru.com, which gave McGraw-Hill an opportunity to connect directly with its end users, the students. The site closed on April 29, 2012.

On October 3, 2011, McGraw-Hill announced it was selling its entire television station group to the E. W. Scripps Company for $212 million.^[7] The sale was completed on December 30, 2011. It had been involved in broadcasting since 1972, when it purchased four television stations from a division of Time Inc.

McGraw Hill has produced the "Glencoe" series of books for decades.

On November 26, 2012, McGraw-Hill announced it was selling its entire education division to Apollo Global Management for $2.5 billion.^[8] On March 22, 2013 it announced it had completed the sale and the proceeds were for $2.4 billion cash.^[9]

On May 1, 2013, shareholders of McGraw-Hill voted to change the company's name to McGraw Hill Financial.^[3]

McGraw-Hill divested the subsidiary McGraw-Hill Construction to Symphony Technology Group for US$320 million on September 22, 2014. ^[10] The sale included Engineering News-Record, Architectural Record, Dodge and Sweet's.^[11] McGraw-Hill Construction has been renamed Dodge Data & Analytics.^[12]

Corporate organization

McGraw Hill Financial now organizes its businesses in five units based on the market in which they are involved.^[13]

Standard & Poor's Ratings Services

Standard & Poor's provides independent investment research including ratings on various investment instruments.

S&P Capital IQ

S&P Capital IQ is a provider of multi-asset class and real-time data, research, and analytics to institutional investors, investment and commercial banks, investment advisors and wealth managers, corporations, and universities.

S&P Dow Jones Indices

Launched on July 2, 2012, S&P Dow Jones Indices is the world's largest global resource for index-based concepts, data, and research. It produces the S&P 500 and the Dow Jones Industrial Average.^[14][15]

S&P Dow Jones Indices calculates over 830,000 indices, publishes benchmarks that provide the basis for 575 ETFs globally with $387 billion in assets invested, and serves as the DNA for $1.5 trillion of the world’s indexed assets.

Platts

Platts is a provider of information and a source of benchmark price assessments for the energy, petrochemicals, metals, and agriculture markets. It has offices in more than 15 cities, including major energy centres such as London, Dubai, Singapore, and Houston, and international business centres such as São Paulo, Shanghai, and New York, where its headquarters is located.

J.D. Power

J.D. Power is a global marketing information services company operating in key business sectors including customer satisfaction research, market research, social media research, and performance improvement programs.

Presidents of the company

• James H. McGraw (1917–1928)
• Johnathan Heflin (1928–1948)
• James McGraw, Jr. (1948–1950)
• Curtis W. McGraw (1950–1953)
• Donald C. McGraw (1953–1968)
• Shelton Fisher (1968–1974)
• Harold McGraw, Jr. (1974–1983)
• Joseph Dionne (1983–1998)
• Harold W. McGraw III (1998–2013)
• Douglas L. Peterson (2013–present)

Acquisitions

During the course of its history, the McGraw-Hill Companies has expanded significantly through acquisition, not just within the publishing industry but also into other areas such as financial services (the purchase of Standard & Poor's in 1966) and broadcasting (the 1972 acquisition of Time-Life Broadcasting). Please note that the publishing and education assets are a part of McGraw-Hill Education from the company separation in 2013.

Note that this list only includes acquisitions made by McGraw-Hill, not its subsidiaries. McGraw-Hill typically does not release financial information regarding its acquisitions or divestitures.

Books published by McGraw-Hill

2008 conference booth

• See also: Category:McGraw-Hill books

McGraw-Hill maintained a general publishing division for some years, whose best known book was the (unpublished) Autobiography of Howard Hughes, a fake biography of Howard Hughes by Clifford Irving, which caused a scandal at the time.

The McGraw-Hill Building

The company was based at 1221 Avenue of the Americas, otherwise known as the McGraw-Hill Building, until July 2015.^[26]

The building in New York City has received prominent attention. In April 2008, surveillance camera footage was released of Nicholas White, a production manager for BusinessWeek (then published by McGraw-Hill) who was trapped in the building's elevator for 41 hours in October 1999.^[27]

Connection to the family of George W. Bush

The McGraws and the George W. Bush/George H. W. Bush family have close ties dating back several generations. According to McGraw-Hill, Barbara Bush is a member of its advisory board.^[28] The California Test Bureau division has provided testing material integral to No Child Left Behind, a George W. Bush initiative.^[29]

McGraw-Hill Federal Credit Union

Established in 1935, the McGraw-Hill Federal Credit Union originally served employees of the McGraw-Hill companies in New York City only.^[30] The credit union moved from its location inside the McGraw-Hill building to East Windsor, New Jersey, in 2005. Its accounts are insured by the National Credit Union Administration. It provides savings, checking accounts, CDs, money-market accounts, IRAs, credit cards, auto loans, and home mortgages.

Awards

In 1999, the National Building Museum presented the McGraw-Hill Companies with its annual Honor Award for the corporation's contributions to the built environment.^[31]

References

External links

• Official website
• Digital Engineering Library (Book List at 29Dec07 Book List at 25Feb08)
• McGraw-Hill Construction
• Tata McGraw-Hill Official Online Store
• Platts Energy, Metals & Petrochemicals Data
• Transcripts of The McGraw-Hill Companies' Quarterly Conference Calls
• FBI files on McGraw Hill, hosted at the Internet Archive:
  • Part 1
  • Part 2