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J.D. Power to Acquire NADA Used Car Guide

J.D. Power and the National Automobile Dealers Association (NADA) announced an agreement under which J.D. Power will acquire NADA’s Used Car Guide business, a premier source of used-vehicle values. The transaction is expected to close early in the third quarter of 2015 and is subject to Hart–Scott–Rodino Act review. Established by NADA in 1933, NADA Used Car Guide is a leading ... Read More »

McGraw Hill Financial Appoints Robert H. Easton Chief Compliance Officer

McGraw Hill Financial (NYSE: MHFI) announced the appointment of Robert H. Easton, 43, as Senior Vice President and Chief Compliance Officer, effective May 26, 2015. Mr. Easton will report to Lucy Fato, Executive Vice President and General Counsel. Mr. Easton is to join McGraw Hill Financial from the New York State Department of Financial Services, where, as Executive Deputy Superintendent of the Insurance Division, he has overseen ... Read More »

Harold McGraw III to Become Chairman Emeritus of McGraw Hill Financial

The Board of Directors of McGraw Hill Financial (NYSE: MHFI) today announced that Harold (“Terry”) McGraw III informed the Board of his decision not to stand for re-election as a director at the Annual Meeting of Shareholders scheduled to take place on April 29, 2015.  In recognition of Mr. McGraw’s many significant contributions to McGraw Hill Financial, the Board of Directors will confer upon ... Read More »

McGraw Hill Financial and S&P Ratings Reach Settlement with DOJ, 19 States, District of Columbia and CalPERS

Settlement includes payment of US$687.5 million to the US Department of Justice (DOJ), 687.5 million to the States and the District of Columbia.  The settlement with CalPERS is US$125 million.  In total McGraw Hill Financial is paying out 1.5bn.   McGraw Hill Financial, Inc. (NYSE: MHFI) (the “Company”) and its subsidiary Standard & Poor’s Financial Services LLC (“S&P Ratings) have reached a settlement ... Read More »

Standard & Poor’s Ratings Services Reaches Settlements with SEC and Attorneys General of New York and Massachusetts

Standard & Poor’s Ratings Services (S&P Ratings), a business unit of McGraw Hill Financial, Inc. (NYSE: MHFI) has reached a settlement with the U.S. Securities and Exchange Commission (SEC) to resolve the SEC’s investigation into six U.S. conduit/fusion commercial mortgage-backed securities (CMBS) transactions rated by S&P Ratings in 2011 and two additional U.S. conduit/fusion CMBS transactions from that period, the ... Read More »

McGraw Hill Financial Cutting Rating Staff at S&P

McGraw Hill Financial Inc. (MHFI) is dismissing about 65 employees in its Standard & Poor’s ratings unit in addition to about 80 voluntary buyouts it accepted as of last month.  The cuts affect employees across the globe. Chief Executive Officer Doug Peterson is trying to improve adjusted operating profit margins by about 2 percent this year. He’s cut expenses since taking ... Read More »

CISCO’s CIO Rebecca Jacoby Elected to the Board of McGraw Hill Financial

McGraw Hill Financial announced that its Board of Directors elected Rebecca Jacoby, Chief Information Officer and Senior Vice President of Cisco, to be a member of the Board, effective immediately. As Cisco’s CIO, Ms. Jacoby, 53, advances the business through the use of Cisco technology. Under her leadership as CIO since 2006, Ms. Jacoby has made the IT organization a strategic business partner, producing significant business ... Read More »

McGraw Hill Financial Q3 2014 Revenue Up 10%

McGraw Hill Financial, Inc. reported third quarter 2014 results with revenue of $1.26 billion, an increase of 10% compared to the same period last year. Net income and diluted earnings per share from continuing operations were $188 million and $0.68, respectively. Adjusted net income from continuing operations increased 31% to $281 million and adjusted diluted earnings per share from continuing ... Read More »

McGraw Hill Financial to Sell McGraw Hill Construction to Symphony Technology Group

McGraw Hill Financial announced it has agreed to sell McGraw Hill Construction to Symphony Technology Group, a strategic private equity firm based in Palo Alto, California, for $320 million in cash. The transaction, which is expected to close during the fourth quarter of 2014, is subject to regulatory approval and customary closing conditions. In March 2014, McGraw Hill Financial announced ... Read More »

Credit Rating India: Roopa Kudva Resigns as CEO of CRISIL

The Indian Business Standard reported that Roopa Kudva has resigned as CEO of CRISIL.  Quoting Kudva, a CRISIL statement said, “Change at the top at judicious intervals is a sound governance practice and allows companies to refresh themselves. I am committed to ensuring a smooth transition.”  Kudva would remain at the company till a successor was identified and appointed, CRISIL ... Read More »

McGraw Hill Financial Appoints Lucy Fato as Executive Vice President and General Counsel

McGraw Hill Financial (NYSE: MHFI) announced the appointment of Lucy Fato, 47, as Executive Vice President and General Counsel, effective August 4, 2014. She succeeds Kenneth M. Vittor, who will be retiring pursuant to the company’s longstanding retirement policies for senior executives. Mr. Vittor has 33 years of outstanding service with the company, including leading the legal department as General Counsel since 1995. Since ... Read More »

McGraw Hill Financial Reports Q2 2014 Revenues Up by 8%

McGraw Hill Financial, Inc. (NYSE: MHFI) reported second quarter 2014 results with revenue of $1.35 billion, an increase of 8% compared to the same period last year.  Taking into consideration the sale of Aviation Week as well as the sale of Financial Communications and the shutdown of several small products within S&P Capital IQ, organic revenue increased 9%. Net income ... Read More »