Do you believe in our children? If so, you might nurture a hope that the government takes an interest in their future, and that education will once again be properly funded. If and when that happens, you'd do well to look into the major textbook publishers, because their products should be in high demand under that scenario.
The textbook market is a tough place. McGraw-Hill is one of the giants, alongside the likes of Scholastic
But the company isn't satisfied with its operational efficiency yet. In the just-completed quarter, 600 jobs were eliminated, and another 100 are on the chopping block for this quarter. The total restructuring cost is expected to reach $31 million, or $0.06 per share, and the effort is meant to "position us for a return to double-digit earnings growth in 2007."
Cutting 700 jobs sounds harsh, but out of almost 20,000 employees worldwide, it's a far cry from the 10,000-out-of-100,000 literal decimation going on at Intel
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Fool contributor Anders Bylund holds no position in any of the companies discussed here, but his kids sure have a lot of Scholastic books. You can check out Anders' holdingsif you like. Foolishdisclosureis well-proportioned just the way it is.