Harold McGraw III Urges Business Graduates to View Rise of New Global Markets as Growth Opportunity for American Workers and Businesses

NEW YORK, May 13 /PRNewswire-FirstCall/ -- Harold McGraw III, chairman, president and CEO of The McGraw-Hill Companies (NYSE: MHP), delivered the graduate convocation address at New York University's Leonard N. Stern School of Business in a ceremony held at Radio City Music Hall today. Mr. McGraw's remarks focused on reasons for confidence in the future despite the challenges of today. He discussed opportunities emerging out of the gradual recovery from the recession, the need for America to engage further with the global economy while resisting protectionist measures, and the responsibility of Stern graduates to strive for a fairer, more just world for all.

Drawing parallels between the recent economic slowdown and the challenging economic environments of the 1970s, 80s and 90s, Mr. McGraw told graduates that his message was clear: to be confident, optimistic, resilient and relevant.

"During every economic downturn in our history, there have been those who have predicted America's decline. What they all have in common is that they all have been wrong.  One lesson is this: If you get too caught up in the short-term, you will for sure lose sight of the larger and more important long-term opportunities for growth – personal and business."

Quoting noted scholar Joel Kotkin's projection that America's population will soar to 400 million by 2050, Mr. McGraw encouraged the graduates to be optimistic about the opportunities before them both in the United States and around the world.

"The demographic deck is stacked in your favor, so I encourage you to play your hand with confidence, with faith, and with conviction...While the U.S. economy will continue to grow in the years ahead, we can expect it to shrink as a proportion of the total global economy because emerging markets such as India, Brazil and China are growing so much faster...We often hear talk about how the rise of new economic powers somehow foreshadows America's decline. In reality, the rise of new markets signals new opportunities for American workers and businesses, and that is something we should all welcome."

Mr. McGraw concluded his address by urging graduates to strive for a better world:

"We will depend on your talents and ingenuity to create a world that is not only more prosperous but also fairer and more just for all. When others fall short of standards for integrity, raise the bar higher by pledging to serve a greater cause. When those around you lose their way in the turmoil of today, keep your eyes on the opportunities of tomorrow."  

New York University Stern School of Business is one of the nation's premier management education schools and research centers. NYU Stern offers a broad portfolio of academic programs at the graduate and undergraduate levels, all of them informed and enriched by the dynamism, energy and deep resources of the world's business capital.

About The McGraw-Hill Companies:

Founded in 1888, The McGraw-Hill Companies is a global information and education company providing knowledge, insights and analysis in the financial, education and business information sectors through leading brands including Standard & Poor's, McGraw-Hill Education, Platts, and J.D. Power and Associates. The Corporation has more than 280 offices in 40 countries. Sales in 2009 were $5.95 billion. Additional information is available at http://www.mcgraw-hill.com.

Release issued: May 13, 2010

SOURCE The McGraw-Hill Companies

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