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The Times published a nice little story on the front of today's Business section extolling the virtues of corporate nepotism, at least at media companies like McGraw-Hill.

Even after a decade at McGraw-Hill, the company his great-grandfather founded and started to build into an empire, many thought Mr. McGraw, who is known as Terry, was yet another heir who had lucked into a job he could not handle. Some went so far as to call him "our Dan Quayle."

Not exactly.

In the 12 years since Mr. McGraw took over as president and chief executive officer of the McGraw-Hill Companies, the parent of Standard & Poor's, BusinessWeek magazine, trade publications and a leading educational publishing business, the company's stock has risen from $8.20 a share on Aug. 2, 1993, to $44 a share at Friday's close — a 437 percent increase.

Can't imagine why the Times would be endorsing dynastic family management of a publicly traded media company.

Or why it wouldn't choose as its example, say, a company whose stock — just to Madlib things a bit — has risen from $28.03 a share on Oct. 16, 1997, to $31.08 at Friday's close — an 11 percent increase (in a period when the S&P 500 grew 25 percent).

Not that any particular company comes to mind.

At McGraw-Hill, an Heir Takes Over and the Company Flourishes [NYT]