Excerpt:
Bush Cronyism Strikes Schools as NCLB Used to Divert Billions to Big Supporters
Submitted by BuzzFlash on Mon, 09/25/2006 - 12:19pm.
McGraw-Hill's CEO confirms Apple tablet, debuting tomorrow
http://www.youtube.com/watch?v=SOrNFke1c-I
http://investor.mcgraw-hill.com/phoenix.zhtml?c=96562&p=RssLanding&cat=news&id=1573196
Excerpt:
McGraw-Hill and NJR Clean Energy Ventures Announce Largest Solar Energy Site of its Kind in the Western Hemisphere
14.1 MW PROJECT PLANNED FOR MCGRAW-HILL FACILITY IN EAST WINDSOR, NJ
NEW YORK and WALL, N.J., June 13, 2011 /PRNewswire via COMTEX/ -- The McGraw-Hill Companies (NYSE: MHP) and NJR Clean Energy Ventures (NJRCEV), a subsidiary of New Jersey Resources (NYSE: NJR), today announced plans to build on McGraw-Hill's East Windsor, N.J., campus the largest privately-owned, net-metered solar project in the Western Hemisphere. The 14.1 megawatt solar system will significantly offset the need for other energy sources to run McGraw-Hill's offices in East Windsor, including the Corporation's growing data center. The clean, renewable energy produced by the project is expected to reduce the equivalent of about 10 percent of McGraw-Hill's annual global carbon emissions and significantly lower the company's long-term electricity costs
http://investor.mcgraw-hill.com/phoenix.zhtml?c=96562&p=irol-newsArticle&ID=469519&highlight=
Excerpt:
Standard & Poor's To Take Over Smith Barney's Global Equity Indices
With Addition of Benchmark Series, S&P Emerges as Leading Full-service Index Provider
NEW YORK, Nov. 12 /PRNewswire/ -- Standard & Poor's, the leading provider of independent investment research, indices and ratings, today announced that it has entered into an agreement with Citigroup to transition over Smith Barney's global benchmark index business (formerly known as the SSB Global Equity Index System) to Standard & Poor's Index Services. The indices, now to be known as the S&P/Citigroup Global Equity Indices, add significant capabilities to Standard & Poor's position as the world's leading index provider, strengthening the ability to offer a comprehensive suite of benchmark and tradeable index products and services. Standard & Poor's existing indices, such as the S&P 500 and those comprising the S&P Global 1200, will not be affected by the transaction and no changes to the S&P/Citigroup index methodology are foreseen.
http://money.cnn.com/2009/04/16/news/companies/cohan_mcgraw.fortune/ (Click & watch video) ...cal
Excerpt:
In fact, the corruptness of S&P's business model - being paid fees by the same Wall Street banks that underwrite the securities S&P rates - is one of the few issues that the left and right agree on.
When the rating agencies' CEOs appeared before the House Oversight and Government Reform Committee last October, Jackie Speier (D-Calif.) called the agencies' conduct a "bone-chilling definition of corruption." Similarly, former congressman Christopher Shays (R-Conn.) said, "The ratings agencies are useless now. I think they have no brand."
Beyond loss of face, McGraw-Hill is also contending with investigations and litigation - lots of it. Some six states' attorneys general - including New York's Andrew Cuomo, Connecticut's Richard Blumenthal, and Ohio's former attorney general Marc Dann - have investigated S&P. (Ohio subsequently dropped the investigation.) "Everybody knows they don't get paid until the transaction gets a triple-A rating," Dann said in September 2007. (S&P has 12 ratings - from the highest, AAA, to the lowest, D - that it bestows on corporate and municipal debt based upon the assessed creditworthiness of the issuer. S&P also rates more exotic forms of debt.)
Then there are the private lawsuits: The Teamsters pension fund, a sizable McGraw-Hill shareholder, and the Boca Raton Firefighters and Police Pension Fund, the lead plaintiff in a large class-action lawsuit, have both sued McGraw-Hill, claiming that the company essentially misled investors through flawed debt ratings, helping to cause the collapse of the credit markets and drag down McGraw-Hill's stock with it.
Excerpt:
Therefore, ITT (a producer of electronic equipment) buying Hartford Insurance, Sheraton Hotels, Budget Rent-a-Car, McGraw Hill Book Publishers, and Continental Baking (Twinkies and Wonder Bread) are examples of conglomerate mergers. So would the purchase of Montgomery Wards by Mobil Oil and the purchase of NBC by General Electric. There were many conglomerate mergers in the 1960s and 1970s. Most were failures.
http://www.trelease-on-reading.com/whatsnu_bush-mcgraw.html
Excerpt:
The amount of cross-pollination and mutual admiration between the Administration and [McGraw-Hill] is striking:
Harold McGraw Jr. sits on the national grant advisory and founding board of the Barbara Bush Foundation for Family Literacy. McGraw in turn received the highest literacy award from President Bush in the early 1990s, for his contributions to the cause of literacy. The McGraw Foundation awarded current Bush Education Secretary Rod Paige its highest educator's award while Paige was Houston's school chief; Paige, in turn, was the keynote speaker at McGraw-Hill's "government initiatives" conference last spring [2001]. Harold McGraw III was selected as a member of President George W. Bush's transition advisory team, along with McGraw-Hill board member Edward Rust Jr., the CEO of State Farm and an active member of the Business Roundtable on educational issues. An ex-chief of staff for Barbara Bush is returning to work for Laura Bush in the White House — after a stint with McGraw-Hill as a media relations executive. John Negroponte left his position as McGraw-Hill's executive vice president for global markets to become Bush's ambassador to the United Nations.
A BUZZFLASH NEWS ALERT
Iraq and New Orleans are not the only places where corruption causes taxpayer money to be spent based on Bush loyalty over merit. According to a new government report, the $5 billion Reading First program - a staple of No Child Left Behind - only allowed states to receive funding for curriculums developed by the publisher McGraw-Hill, Inc.
The Bush and McGraw families have been personally and professionally close since the 1930's. Campaign finance records indicate the McGraws, who still run the company, have been generous donors for Republican candidates in the last decade, including to Bush's campaigns. (Incidentally, the only Democrat recipient we were able to find was Sen. Joe Lieberman)
http://www.mheducation.com/programs/nclb.shtml
Excerpt:
NCLB and Reading First are groundbreaking education reforms designed to improve student achievement. As a leading provider of print and online solutions, McGraw-Hill Education is committed to providing educators with the tools to meet their requirements.
http://www.sourcewatch.org/index.php?title=No_Child_Left_Behind_Act
Excerpt:
The No Child Left Behind Act (NCLB), introduced in the first session of the 107th Congress (2001-2002), amended the Elementary and Secondary Education Act of 1965. The Act authorized a number of federal programs aimed at improving the performance of U.S. primary and secondary schools. It mandated that states give students annual standardized tests and show improvement through 2014, when all students are expected to be "proficient." States that fail to meet benchmarks are penalized through a variety of methods, including a reduction in federal education funding.
Iraq and New Orleans are not the only places where corruption causes taxpayer money to be spent based on Bush loyalty over merit. According to a new government report, the $5 billion Reading First program - a staple of No Child Left Behind - only allowed states to receive funding for curriculums developed by the publisher McGraw-Hill, Inc.
The Bush and McGraw families have been personally and professionally close since the 1930's. Campaign finance records indicate the McGraws, who still run the company, have been generous donors for Republican candidates in the last decade, including to Bush's campaigns. (Incidentally, the only Democrat recipient we were able to find was Sen. Joe Lieberman)
http://www.mheducation.com/programs/nclb.shtml
Excerpt:
NCLB and Reading First are groundbreaking education reforms designed to improve student achievement. As a leading provider of print and online solutions, McGraw-Hill Education is committed to providing educators with the tools to meet their requirements.
http://www.sourcewatch.org/index.php?title=No_Child_Left_Behind_Act
Excerpt:
The No Child Left Behind Act (NCLB), introduced in the first session of the 107th Congress (2001-2002), amended the Elementary and Secondary Education Act of 1965. The Act authorized a number of federal programs aimed at improving the performance of U.S. primary and secondary schools. It mandated that states give students annual standardized tests and show improvement through 2014, when all students are expected to be "proficient." States that fail to meet benchmarks are penalized through a variety of methods, including a reduction in federal education funding.
McGraw-Hill's CEO confirms Apple tablet, debuting tomorrow
http://www.youtube.com/watch?v=SOrNFke1c-I
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Interviewer [Erin Burnett]: "Briefly, before we go... Apple. Apparently you may get textbooks on the... the, this new tablet? That's coming out.
Terry McGraw: "Yeah! Very exciting. Yes... you know, they'll make their announcement tomorrow on this one. We have worked with Apple for quite awhile. And their... the tablet is going to be based on the iPhone operating system and so it'll be transferable. So what you're going to be able to do now... we have a consortium of e-books. And we have 95 percent of all our materials that are in e-book format... on that one. So now, with the tablet you're going to open up the higher education market, the professional market. The tablet... the tablet is going to be just really terrific."
http://www.newser.com/story/79484/mcgraw-hills-new-lesson-dont-cross-steve-jobs.html
Excerpt:
Terry McGraw: "Yeah! Very exciting. Yes... you know, they'll make their announcement tomorrow on this one. We have worked with Apple for quite awhile. And their... the tablet is going to be based on the iPhone operating system and so it'll be transferable. So what you're going to be able to do now... we have a consortium of e-books. And we have 95 percent of all our materials that are in e-book format... on that one. So now, with the tablet you're going to open up the higher education market, the professional market. The tablet... the tablet is going to be just really terrific."
http://www.newser.com/story/79484/mcgraw-hills-new-lesson-dont-cross-steve-jobs.html
Excerpt:
McGraw-Hill's New Lesson: Don't Cross Steve Jobs
Publisher on the outs after CEO leaks news on TV
By John Johnson, Newser Staff
Posted Jan 28, 2010 11:14 AM CST
(Newser) – McGraw-Hill has been in the publishing biz for more than a century, but it got schooled in a modern business lesson yesterday: Beware the wrath of Steve Jobs. In his big iPad announcement, Jobs showed a slide of the publishers working with Apple on the new gizmo, but it had been altered to remove McGraw-Hill's name, reports VentureBeat. Why? Harold McGraw spilled the beans on TV the day before.
It's not clear yet whether this is just a slap on the wrist or a sign that McGraw-Hill is actually out of the deal. "Either way, it’s a concrete lesson in just how far removed the publishing industry can be from reality," writes Paul Boutin. "In the past, music and movie fatcats were able to figure out the unwritten rule that McGraw so glibly overlooked: If you’re working with Apple, shut up about it until Steve has left the stage."
Excerpt:
30 November 2003 edition: "Nash: DOD to Speed Bidding of Iraq Reconstruction Contracts" by Sherie Winston (McGraw-Hill Construction):
"With Congress on the verge of approving an $87-billion emergency supplemental spending bill for military operations and reconstruction in Iraq, a new Defense Dept. unit to oversee construction contracts there is gearing up to accelerate the bid process for the rebuilding effort.
"Retired Admiral David Nash, former head of the Naval Facilities Engineering Command, will head the new office from Baghdad, supported by staff in Washington, D.C. 'My job is to make sure the supplemental money is appropriately contracted for,' Nash said from Washington in an Oct. 29 interview with ENR.
"Nash and his staff in the Iraq Infrastructure Reconstruction Office are finalizing details of an expedited procurement process so that more than 20 potential contracts will be 'ready to execute' as soon as the funds from the supplemental spending bill become available.
"Nash also plans two industry days in November--one meeting will be in Washington, D.C., and the other in London--to get the word out to potential bidders about the scope of work. The meetings were expected to be in mid-November, but Nash hadn't set a specific date as of Oct. 29.
"House and Senate negotiators approved the spending plan on Oct. 29, including about $13 billion for actual reconstruction work. The full House was expected to vote on the bill late on Oct. 30 with Senate action to follow soon after that. President Bush is expected to sign the legislation."
30 November 2003 edition: "Nash: DOD to Speed Bidding of Iraq Reconstruction Contracts" by Sherie Winston (McGraw-Hill Construction):
"With Congress on the verge of approving an $87-billion emergency supplemental spending bill for military operations and reconstruction in Iraq, a new Defense Dept. unit to oversee construction contracts there is gearing up to accelerate the bid process for the rebuilding effort.
"Retired Admiral David Nash, former head of the Naval Facilities Engineering Command, will head the new office from Baghdad, supported by staff in Washington, D.C. 'My job is to make sure the supplemental money is appropriately contracted for,' Nash said from Washington in an Oct. 29 interview with ENR.
"Nash and his staff in the Iraq Infrastructure Reconstruction Office are finalizing details of an expedited procurement process so that more than 20 potential contracts will be 'ready to execute' as soon as the funds from the supplemental spending bill become available.
"Nash also plans two industry days in November--one meeting will be in Washington, D.C., and the other in London--to get the word out to potential bidders about the scope of work. The meetings were expected to be in mid-November, but Nash hadn't set a specific date as of Oct. 29.
"House and Senate negotiators approved the spending plan on Oct. 29, including about $13 billion for actual reconstruction work. The full House was expected to vote on the bill late on Oct. 30 with Senate action to follow soon after that. President Bush is expected to sign the legislation."
Excerpt:
McGraw-Hill and NJR Clean Energy Ventures Announce Largest Solar Energy Site of its Kind in the Western Hemisphere
14.1 MW PROJECT PLANNED FOR MCGRAW-HILL FACILITY IN EAST WINDSOR, NJ
NEW YORK and WALL, N.J., June 13, 2011 /PRNewswire via COMTEX/ -- The McGraw-Hill Companies (NYSE: MHP) and NJR Clean Energy Ventures (NJRCEV), a subsidiary of New Jersey Resources (NYSE: NJR), today announced plans to build on McGraw-Hill's East Windsor, N.J., campus the largest privately-owned, net-metered solar project in the Western Hemisphere. The 14.1 megawatt solar system will significantly offset the need for other energy sources to run McGraw-Hill's offices in East Windsor, including the Corporation's growing data center. The clean, renewable energy produced by the project is expected to reduce the equivalent of about 10 percent of McGraw-Hill's annual global carbon emissions and significantly lower the company's long-term electricity costs
http://investor.mcgraw-hill.com/phoenix.zhtml?c=96562&p=irol-newsArticle&ID=469519&highlight=
Excerpt:
Standard & Poor's To Take Over Smith Barney's Global Equity Indices
With Addition of Benchmark Series, S&P Emerges as Leading Full-service Index Provider
NEW YORK, Nov. 12 /PRNewswire/ -- Standard & Poor's, the leading provider of independent investment research, indices and ratings, today announced that it has entered into an agreement with Citigroup to transition over Smith Barney's global benchmark index business (formerly known as the SSB Global Equity Index System) to Standard & Poor's Index Services. The indices, now to be known as the S&P/Citigroup Global Equity Indices, add significant capabilities to Standard & Poor's position as the world's leading index provider, strengthening the ability to offer a comprehensive suite of benchmark and tradeable index products and services. Standard & Poor's existing indices, such as the S&P 500 and those comprising the S&P Global 1200, will not be affected by the transaction and no changes to the S&P/Citigroup index methodology are foreseen.
http://money.cnn.com/2009/04/16/news/companies/cohan_mcgraw.fortune/ (Click & watch video) ...cal
Excerpt:
In fact, the corruptness of S&P's business model - being paid fees by the same Wall Street banks that underwrite the securities S&P rates - is one of the few issues that the left and right agree on.
When the rating agencies' CEOs appeared before the House Oversight and Government Reform Committee last October, Jackie Speier (D-Calif.) called the agencies' conduct a "bone-chilling definition of corruption." Similarly, former congressman Christopher Shays (R-Conn.) said, "The ratings agencies are useless now. I think they have no brand."
Beyond loss of face, McGraw-Hill is also contending with investigations and litigation - lots of it. Some six states' attorneys general - including New York's Andrew Cuomo, Connecticut's Richard Blumenthal, and Ohio's former attorney general Marc Dann - have investigated S&P. (Ohio subsequently dropped the investigation.) "Everybody knows they don't get paid until the transaction gets a triple-A rating," Dann said in September 2007. (S&P has 12 ratings - from the highest, AAA, to the lowest, D - that it bestows on corporate and municipal debt based upon the assessed creditworthiness of the issuer. S&P also rates more exotic forms of debt.)
Then there are the private lawsuits: The Teamsters pension fund, a sizable McGraw-Hill shareholder, and the Boca Raton Firefighters and Police Pension Fund, the lead plaintiff in a large class-action lawsuit, have both sued McGraw-Hill, claiming that the company essentially misled investors through flawed debt ratings, helping to cause the collapse of the credit markets and drag down McGraw-Hill's stock with it.
| Chapter 12 The Role Of Government |
How to Study for Chapter 10 The Role of Government ... 12. Briefly explain the anti-trust cases against Standard Oil, ALCOA, IBM, and AT&T. ...
| daphne.palomar.edu/llee/Economics%20102%20ChapC10.doc |
Therefore, ITT (a producer of electronic equipment) buying Hartford Insurance, Sheraton Hotels, Budget Rent-a-Car, McGraw Hill Book Publishers, and Continental Baking (Twinkies and Wonder Bread) are examples of conglomerate mergers. So would the purchase of Montgomery Wards by Mobil Oil and the purchase of NBC by General Electric. There were many conglomerate mergers in the 1960s and 1970s. Most were failures.
http://www.trelease-on-reading.com/whatsnu_bush-mcgraw.html
Excerpt:
The amount of cross-pollination and mutual admiration between the Administration and [McGraw-Hill] is striking:
Harold McGraw Jr. sits on the national grant advisory and founding board of the Barbara Bush Foundation for Family Literacy. McGraw in turn received the highest literacy award from President Bush in the early 1990s, for his contributions to the cause of literacy. The McGraw Foundation awarded current Bush Education Secretary Rod Paige its highest educator's award while Paige was Houston's school chief; Paige, in turn, was the keynote speaker at McGraw-Hill's "government initiatives" conference last spring [2001]. Harold McGraw III was selected as a member of President George W. Bush's transition advisory team, along with McGraw-Hill board member Edward Rust Jr., the CEO of State Farm and an active member of the Business Roundtable on educational issues. An ex-chief of staff for Barbara Bush is returning to work for Laura Bush in the White House — after a stint with McGraw-Hill as a media relations executive. John Negroponte left his position as McGraw-Hill's executive vice president for global markets to become Bush's ambassador to the United Nations.
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