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In its Q2 press release, McGraw-Hill (MHP -1.1%) says sales took a hit from state spending cuts....

In its Q2 press release, McGraw-Hill (MHP -1.1%) says sales took a hit from state spending cuts. In CA, K-8 sales were "especially hard hit by the cut back in ordering... in response to the state's budget deficit and poor economic outlook." SC failed to implement a new high school math program; while IN decided to spread its math adoption over two years. (earnings report)
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