You may recall the story of McGraw-Hill CEO Terry McGraw. As we reported late Tuesday, the publishing exec was being interviewed on CNBC the eve of the iPad launch when he gave away previously unknown and secret information. He told the cable audience that there would be an iPad launched on Wednesday and that it would run on the iPhone OS and cost $500. Obviously, Mr. McGraw was privy to some information that even some top guns at Apple didn't possess.
We know that Steve Jobs is a stickler for keeping things quiet until the official announcement and Apple's CEO wasn't going to let such an obvious (and widely disseminated) gaffe go unpunished. So he sent McGraw-Hill into the penalty box by removing the company's name from a slide showing the names of publishers whose books will be made available for the iPad. It was a spanking the Steve Jobs way and what could make for a worse punishment than telling the large number of people who tuned into the iPad announcement that your venerable publishing house doesn't exist-at least not to Steve Jobs.
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