McGraw-Hill Tossed From iPad Media Event After Premature Confirmation?

[RHutch]

Steve is a fool to make a mountain out of a mole hill in this situation. Apple needs McGraw-Hill more than McGraw-Hill needs Apple.

Do you have some basis for the claim that Apple needs McGraw-Hill more than McGraw-Hill needs Apple? Do you know how well McGraw-Hill is doing in the educational publishing market? MHP's market valuation is about 1/15 that of AAPL. MHP's share price is about half its 5-year high and about what it was 5 years ago. AAPL is at all-time highs and 5 times its price of 5 years ago. I think Apple will be just fine if they choose to exclude MHP.

Didn't people say that Apple needed NBC more than NBC needed Apple when NBC's shows were removed from the iTunes store? Apple continued doing just fine; the store grew. What kind of shape is NBC in? (Yes, I know that the content came back to the store.)

 

[psingh01]

Not really childish imo. Apple likes to control it's message. It's unprofessional of their partners to pre-announce Apple's products.

Case in point there is a company that is selling Micro SIM to various wireless providers in the US but they refused to give out the names of their customers. That is how you work. With confidentiality.

 

[dwighteb]

A lot of folks are being really critical of Steve Job's reaction here, as if he was at fault. Keep in mind the following:

1.) The CEO of McGraw-Hill was unable to keep their end of the bargain up with an NDA
2.) If you cannot trust a CEO of a corporation to keep up with contractual obligations, who within that company should you trust?

This was a disrespectful show from McGraw-Hill to Apple. It shows that McGraw-Hill may not be trustworthy in keeping information in confidence - if I were calling the shots at a corporation, I would be less likely to provide McGraw-Hill any advance info that I wanted to keep under wraps. In the same breath though, it is unlikely that Apple will drop any agreements due to McGraw-Hill's importance within the publishing industry. I suppose if you're important enough, you can just violate agreements with other companies.

Edited to add: Ok - I was wrong - looks like McGraw-Hill was not under any NDA with Apple - my bad. It appears that the CEO was not speaking with any insider information, and hence was never violating any contractual obligations. I guess I love my mountains out of molehills.

 

[Markov]

Steve Jobs is still in elementary school? Wow, what a d*** move really. As many have already mentioned, EVERYONE knew that a tablet was in the works, and was releasing it yesterday. Apple is a bit too serious with the product confidentiality maneuvers.

 

[DougB541]

McGraw is an idiot. Or one huge ego on legs. Did he really think Steve would not be major pissed off with this stupid self serving leak.
Regardless of who was involved, if you have an agreement to keep quiet and you break that promise then that's plain dumb or dishonest.
He deserves what he is getting.

What is he getting?


That company will do just fine in their sector. This is a very 'meh" story.

 

[boncellis]

McGraw-Hill may have been omitted from the keynote, but something tells me it will still be included in iBooks. I think leaving MH out entirely would just hurt iPad sales, though maybe not as much as I think.

Stumbled across MSI's new 10-inch tablet today also for $500...how long before somebody makes that into a Hackintosh. Then we'll be able to see how OS X fares vs. iPad OS with a touchscreen (not a perfect comparison, but it's something).

 

[TheSlush]

What is the number one rule of Fight Club?

Poor Terry. "His name was Robert Paulson. His name was Robert Paulson."

 

[sniffies]

Terry McGraw should publicly apologise!!!!!!!!!!!

Moron!!!!!!

 

[sibruk]

No, this is a non-story. And certainly shouldn't be on Page 1. A real reporter has actually spoken to McGraw Hill:
http://digitaldaily.allthingsd.com/20100128/mcgraw-hill-no-we-didnt-confirm-ipad-launch/

 

[TheSpaz]

That's hilarious! Great move by Jobs. Maybe next time people will know to keep their mouths shut. Haha!

 

[boncellis]

No, this is a non-story.

I tend to agree. The real story in my mind is when will someone design an iPad case with the words "DON'T PANIC" on the front?

 

[Digitalclips]

I'm allowed to objectively comment on what I regard as reasonable or unreasonable behaviour, regardless of their standing! George Bush spent a fair amount of time as "leader of the Free World" yet many had opinions on what he should or shouldn't be doing!

And regards to the breaking of an NDA, the response should be proportionate to the damage. The damage of mentioning the existence of a tablet that everyone was 100% sure of existing anyway? Zero! It's not like there was a threat to the market of the iPad in any way! Courts would award damages in cases of breach of contract depending on the damage caused by the break, surely?

I choose to pass on the GW comment ... we want a sane conversation right?

I agree on the proportionality comment you make and hopefully this is exactly what happened. McGraw grabbed some media attention by breaking the NDA and then lost some at the launch. Hopefully that is it and everyone moves on after McGraw apologizes.

 

[Digitalclips]

Hey kids, try the analog version of Guitar Hero for a change!

Sorry off topic ... Just had to comment on your brilliant footer. As a guitarist I acould not agree more. I was actually asked by a friend not long ago that as I was a guitarist would I like to join her son playing Guitar Hero. She actually believed he was learning to play!

 

[bryanw]

Screw Steve Jobs if he wants to be spiteful because this CEO let on Apple would be announcing a tablet that EVERYBODY and his or her brother knew was coming for last 2 months. In the context of the CNBC interview it was merely a blip on radar. People act as though he spent whole interview talking about it. If he had said this a month prior to yesterday's event, I'd be willing to consider the outrage. I laughed hard when I heard some people actually said that this guy ruined it for them. Yeah, right. Like you had no idea Apple was releasing a tablet. Gimme a break!

 

[Lesser Evets]

McGraw-Hill is a giant.

I doubt this will be a big hit.

Apple however could use McGraw-Hill since they are making a new base of publications for their products to sell. Jobs should have some grace in this instance, for his sake.

 

[gibbz]

Apple is plain STUPID for excluding the obvious student and mention of textbooks from their presentation.

Steve did (briefly) mention they are also excited about textbooks.

Steve is a fool to make a mountain out of a mole hill in this situation. Apple needs McGraw-Hill more than McGraw-Hill needs Apple.

Umm, no.

 

[fat phil]

No, this is a non-story. And certainly shouldn't be on Page 1. A real reporter has actually spoken to McGraw Hill:
http://digitaldaily.allthingsd.com/20100128/mcgraw-hill-no-we-didnt-confirm-ipad-launch/

I do find it rather funny that a book publisher can't find the correct language to make it clear he's talking speculatively, and not factually. Nothing like a free lunch in big business.

I think he was trying to capitalise on the momentum and PR, in which case fair game to him. On the other hand, he probably doesn't want to make a habit of it after this.

 

[Cuyler]

I watched the interview with McGraw Hill's CEO and it was totally unnecessary for him to mention any details about Apple's tablet. He could have just said, "Yes, Apple is introducing a new device tomorrow and we are looking forward to working closely with them." Instead, he is blurting out details like what kind of OS it has. It struck me as terribly unprofessional.

And then I laughed when I saw that slide yesterday without McGraw Hill's name on it. I am sure the two companies will continue to do business, but why should Apple bother mentioning them in their presentation?

 

[gibbz]

I do find it rather funny that a book publisher can't find the correct language to make it clear he's talking speculatively, and not factually. Nothing like a free lunch in big business.

I think he was trying to capitalise on the momentum and PR, in which case fair game to him. On the other hand, he probably doesn't want to make a habit of it after this.

I agree. The CEO tried to act like some of these Apple store employees do prior to a launch when they pretend to have inside knowledge.

 

[lannister80]

Umm, no.

Who's stock was down 4% again?

 

[Digitalclips]

Screw Steve Jobs if he wants to be spiteful because this CEO let on Apple would be announcing a tablet that EVERYBODY and his or her brother knew was coming for last 2 months. In the context of the CNBC interview it was merely a blip on radar. People act as though he spent whole interview talking about it. If he had said this a month prior to yesterday's event, I'd be willing to consider the outrage. I laughed hard when I heard some people actually said that this guy ruined it for them. Yeah, right. Like you had no idea Apple was releasing a tablet. Gimme a break!

I guess you are not in business then or you would understand the importance of an NDA. If you wrote a book and submitted it to McGraw and they let others read it and another person managed to publish a rip off before you - I guess you'd think that was fine?

 

[chappy87]

I choose to pass on the GW comment ... we want a sane conversation right?

I agree on the proportionality comment you make and hopefully this is exactly what happened. McGraw grabbed some media attention by breaking the NDA and then lost some at the launch. Hopefully that is it and everyone moves on after McGraw apologizes.

I think the GW reference was fine- you can't suggest that someones actions shouldn't be criticised simply because of their standing. I believe that Jobs can, in many cases, act in an over the top manner in being over-protective of his product secrecy. But hey, that's just my opinion, and I'm sure others will agree with throwing the book at the McGraw-Hill guy. I just don't understand the seeming lack of perspective on Steve's part- why can't he just enjoy his (seemingly, according to most press reports) successful launch without getting wound up about silly leaks of already known information?!

 

[gibbz]

Who's stock was down 4% again?

-4% of a s**t ton is still a s**t ton

It is funny how this always happens. Give it time. They will sell millions of these and their stock will soar.

 

[rpaloalto]

LOL at the stupid fat man.
Most of us knew this was going to happen. In fact many of us joked about it the other day in the MacRumors forums.
McGraw wanted to be in the limelight. So he felt it was OK for him to spill the beans. Now he just screwed himself because everyone knows that he cant keep his mouth shut.
I wonder if they promised him cookies after the interview if he sang

 

[Digitalclips]

Who's stock was down 4% again?

Yup that is amazing! I have long given up trying to fathom the ups and down of AAPL. I just stay for the long haul and as I started at 37 I am happy. I have no doubt it will be well up in the high 200's by year end.