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114-595: Under a 1.3 billion dollar budget, it provides more than 1.1 billion US gallons (4,200,000 m) of water each day to more than 9 million residents (including 8 million in the City of New York ) through a complex network of nineteen reservoirs , three controlled lakes and 6,000 miles (9,700 km) of water mains, tunnels and aqueducts . DEP is also responsible for managing the city's combined sewer system, which carries both storm water runoff and sanitary waste , and fourteen wastewater treatment plants located throughout

228-402: A PowerPoint presentation and a booklet. McKinsey & Company has traditionally charged approximately 25 percent more than competing firms. Its invoices traditionally contain only a single line. A typical McKinsey engagement (called a "study") can last between two and twelve months and involves three to six McKinsey consultants. An engagement is usually managed by a generalist that covers

342-429: A partnership before being legally restructured as a private corporation with shares owned by its partners in 1956. It mimics the structure of a partnership and senior employees are called "partners". The company has a flat hierarchy and each member is assigned a mentor. Since the 1960s, McKinsey's managing director has been elected by a vote of senior directors to work up to three, three-year terms or until reaching

456-470: A "fading empire, where hubris and changing times have diminished the firm's statures." In his February 2020 in-depth article in The Atlantic , Daniel Markovits argues that McKinsey promotes "intellect and elite credentials" and "Meritocrats" over "directly relevant experience". Many of McKinsey's alumni become CEOs of major corporations or hold important government positions. In doing so, they influence

570-456: A 1997 article in The Observer , McKinsey recruited recent graduates and "imbue[d] them with a religious conviction" in the firm, then cull[ed] through them with its " up-or-out " policy. The "up or out" policy, which was established in 1951, meant that consultants that were not being promoted within the firm were asked to leave. By 1997, about one-fifth of McKinsey's consultants departed under

684-667: A McKinsey consultant at the time, published "Make Overhead Cuts That Last" in Harvard Business Review , in which he introduced new rules for scientific management such as "overhead valuation analysis" (OVA). OVA guided McKinsey's "path to downsizing", responding to the "mid-century corporation's excessive reliance on middle management". Neuman wrote that the "process, though swift, is not painless. Since overhead expenses are typically 70% to 85% people-related and most savings come from work-force reductions, cutting overhead does demand some wrenching decisions." In 1976, Ron Daniel

798-486: A Social Sector Office (SSO) in 2008, which is divided into three practices: Global Public Health, Economic Development and Opportunity Creation (EDHOC) and Philanthropy. McKinsey does much of its pro-bono work through the SSO, whereas a Business Technology Office (BTO), founded in 1997, provides consulting on technology strategy. By 2009, the firm consisted of 400 directors (senior partners), up from 151 in 1993. Dominic Barton

912-452: A day; 96 wastewater pump stations: 8 dewatering facilities; and 490 sewer regulators . The bureau has a staff of 1,900 employees, with a $ 340 million annual operating budget, and an annual capital budget of $ 200 million. The current commissioner Rohit Aggarwala was appointed by Mayor Eric Adams in January 2022. Other former Commissioners include: The federal government began investigating

1026-612: A decade between Irish immigrants and Black people for work. Rioters burned the Colored Orphan Asylum to the ground. At least 120 people were killed. Eleven Black men were lynched over five days, and the riots forced hundreds of Blacks to flee. The Black population in Manhattan fell below 10,000 by 1865. The White working class had established dominance. It was one of the worst incidents of civil unrest in American history . In 1886,

1140-462: A management tool. McKinsey's first partners were AT Kearney , hired in 1929, and Marvin Bower , hired in 1933. Bower is credited with establishing McKinsey's values and principles in 1937, based on his experience as a lawyer. The firm developed an " up or out " policy, where consultants who are not promoted are asked to leave. In 1937, Bower established a set of rules: that consultants should put

1254-510: A part of the colony of New York . It became a center of slavery , with 42% of households enslaving Africans by 1730. Most were domestic slaves ; others were hired out as labor. Slavery became integrally tied to New York's economy through the labor of slaves throughout the port, and the banking and shipping industries trading with the American South . During construction in Foley Square in

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1368-596: A private consulting agreement, violating McKinsey's policies on confidentiality. Gupta was convicted in June 2012, of four counts of conspiracy and securities fraud , and acquitted on two counts. In October 2011, he was arrested by the FBI on charges of sharing insider information from these confidential board meetings with Rajaratnam. At least twice, Gupta used a McKinsey phone to call Rajaratnam and retained other perks—an office, assistant, and $ 6 million retirement salary that year —as

1482-602: A process to centralize knowledge from each practice area and a resource directory of internal experts." By the end of his tenure in 1988 the firm was growing again and had opened new offices in Rome , Helsinki , São Paulo and Minneapolis . Fred Gluck was McKinsey's managing director from 1988 to 1994. The firm's revenues doubled during his tenure. He organized McKinsey into 72 "islands of activity" that were organized under seven sectors and seven functional areas. By 1997, McKinsey had grown eightfold over its size in 1977. In 1989

1596-449: A program designed to transform corporate culture . A 1975 publication by McKinsey's John L. Neuman introduced the business practice of "overhead value analysis" that contributed to a downsizing trend that eliminated many jobs in middle management . McKinsey has a notoriously competitive hiring process and is widely seen as one of the most selective employers in the world. McKinsey recruits primarily from top business schools and

1710-510: A reputation as a despotic leader. He instituted regulations on liquor sales, attempted to assert control over the Dutch Reformed Church , and blocked other religious groups from establishing houses of worship. In 1664, unable to summon any significant resistance, Stuyvesant surrendered New Amsterdam to English troops, led by Colonel Richard Nicolls , without bloodshed. The terms of the surrender permitted Dutch residents to remain in

1824-524: A result of Sandy, and the economic losses in New York City were estimated to be roughly $ 19 billion. The disaster spawned long-term efforts towards infrastructural projects to counter climate change and rising seas, with $ 15 billion in federal funding received through 2022 towards those resiliency efforts. In March 2020, the first case of COVID-19 in the city was confirmed. With its population density and its extensive exposure to global travelers,

1938-469: A senior partner emeritus. After the scandal McKinsey instituted new policies and procedures to discourage future indiscretions from consultants, including investigating other partners' ties to Gupta. In February 2018, Kevin Sneader was elected as managing director. He had a three-year term that began on July 1, 2018. McKinsey has consulted for multiple cities, states and government organizations during

2052-476: A speech denying the request, which was paraphrased on the front page of the New York Daily News as "FORD TO CITY: DROP DEAD." The Municipal Assistance Corporation was formed and granted oversight authority over the city's finances. While a resurgence in the financial industry greatly improved the city's economic health in the 1980s, New York's crime rate continued to increase through that decade and into

2166-607: A traditional "headquarters"; the managing partner chooses his or her home office. McKinsey & Company provides strategy and management consulting services, such as providing advice on an acquisition, developing a plan to restructure a sales force, creating a new business strategy or providing advice on downsizing, according to the 2013 book, The Firm . The 1999 book, The McKinsey Way said that McKinsey consultants designed and implemented studies to evaluate management decisions using data and interviews to test hypotheses . which were then presented to senior management, typically in

2280-728: A year on research. McKinsey was one of the first organizations to fund management research, when it founded the Foundation for Management Research in 1955. The firm began publishing a business magazine, The McKinsey Quarterly , in 1964. It funds the McKinsey Global Institute, which studies global economic trends and was founded in 1990. It also launched the McKinsey Institute for Black Economic Mobility in 2020 to fund research focused on advancing inclusive growth & racial equity globally. Many consultants are contributors to

2394-476: Is a global center of finance and commerce , culture , technology , entertainment and media , academics and scientific output , the arts and fashion , and, as home to the headquarters of the United Nations , international diplomacy . With an estimated population in 2023 of 8,258,035 distributed over 300.46 square miles (778.2 km ), the city is the most densely populated major city in

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2508-467: Is an established safe haven for global investors. As of 2023 , New York City is the most expensive city in the world for expatriates and has by a wide margin the highest U.S. city residential rents; and Fifth Avenue is the most expensive shopping street in the world. New York City is home by a significant margin to the highest number of billionaires , individuals of ultra-high net worth (greater than US$ 30 million), and millionaires of any city in

2622-447: Is an opportunity for DEP to take employee ideas and best practices from water utilities across the globe to achieve the agency's goal of being the "safest, most productive, cost-effective, and transparent water utility in the nation." Rather than responding to future financial pressures with budget cuts that might weaken critical services, the OpX initiative makes improvements that will increase

2736-565: Is credited with founding the firm's principles and strategy as his deputy. The New York office purchased exclusive rights to the McKinsey name from the former McKinsey Chicago office which was separated with AT Kearney in 1946. McKinsey & Company grew quickly in the 1940s and 1950s, especially in Europe. It had 88 staff in 1951 and more than 200 by the 1960s, including 37 in London by 1966. In

2850-414: Is made up of an extensive grid of water mains stretching approximately 6,600 miles (10,600 km). The city's wastewater is collected through an extensive grid of sewer pipes of various sizes and stretching over 7,400 miles (11,900 km). The Bureau of Wastewater Treatment (BWT) operates 14 water pollution control plants treating an average of 1.3 billion US gallons (4,900,000 m) of wastewater

2964-598: Is the most populous city in the United States , located at the southern tip of New York State on one of the world's largest natural harbors . The city comprises five boroughs , each coextensive with a respective county . The city is the geographical and demographic center of both the Northeast megalopolis and the New York metropolitan area , the largest metropolitan area in the U.S. by both population and urban area . New York

3078-438: Is the oldest and largest of the "MBB" management consultancies (MBB) . The firm mainly focuses on the finances and operations of their clients. Under the direction of Marvin Bower , McKinsey expanded into Europe during the 1940s and 1950s. In the 1960s, McKinsey's Fred Gluck —along with Boston Consulting Group 's Bruce Henderson , Bill Bain at Bain & Company , and Harvard Business School 's Michael Porter —initiated

3192-583: The 2019 coronavirus pandemic . During the first four months of the pandemic, McKinsey obtained in excess of $ 100 million in consulting work, including no-bid contracts with the United States Department of Veterans Affairs and Air Force . The reopening guidelines for Florida's Miami-Dade County , produced with McKinsey's input, were criticized by local media and officials for complexity and lack of clarity. McKinsey discontinued its investment banking advisory unit in 2021, citing "personnel matters" as

3306-837: The Atlantic port to the agricultural markets and commodities of the North American interior via the Hudson River and the Great Lakes . Local politics became dominated by Tammany Hall , a political machine supported by Irish and German immigrants . In 1831, New York University was founded. Several prominent American literary figures lived in New York during the 1830s and 1840s, including William Cullen Bryant , Washington Irving , Herman Melville , Rufus Wilmot Griswold , John Keese , Nathaniel Parker Willis , and Edgar Allan Poe . Members of

3420-876: The Crown , with as many as 10,000 escaped slaves crowded into the city during the British occupation, the largest such community on the continent. When the British forces evacuated New York at the close of the war in 1783, they transported thousands of freedmen for resettlement in Nova Scotia , England, and the Caribbean . The attempt at a peaceful solution to the war took place at the Conference House on Staten Island between American delegates, including Benjamin Franklin , and British general Lord Howe on September 11, 1776. Shortly after

3534-476: The Harvard Business Review . McKinsey consultants published only two books from 1960 to 1980, then more than 50 from 1980 to 1996. McKinsey's publications and research give the firm a "quasi-academic" image. A McKinsey book, In Search of Excellence , was published in 1982. It featured eight characteristics of successful businesses based on an analysis of 43 top performing companies. It marked

New York City Department of Environmental Protection - Misplaced Pages Continue

3648-699: The New York City Fire Department and 71 law enforcement officers. The area was rebuilt with a new World Trade Center , the National September 11 Memorial and Museum , and other new buildings and infrastructure, including the World Trade Center Transportation Hub , the city's third-largest hub. The new One World Trade Center is the tallest skyscraper in the Western Hemisphere and the seventh-tallest building in

3762-947: The Northwest Passage to the Orient for the Dutch East India Company . He sailed up what the Dutch called North River (now the Hudson River), named first by Hudson as the Mauritius after Maurice, Prince of Orange . Hudson claimed the region for the Dutch East India Company. In 1614, the area between Cape Cod and Delaware Bay was claimed by the Netherlands and called Nieuw-Nederland (' New Netherland '). The first non–Native American inhabitant of what became New York City

3876-561: The Statue of Liberty , a gift from France , was dedicated in New York Harbor. The statue welcomed 14 million immigrants as they came to the U.S. via Ellis Island by ship in the late 19th and early 20th centuries, and is a symbol of the United States and American ideals of liberty and peace. In 1898, the City of New York was formed with the consolidation of Brooklyn (until then a separate city),

3990-683: The Stonewall riots were a series of violent protests by members of the gay community against a police raid that took place in the early morning of June 28, 1969, at the Stonewall Inn in Greenwich Village . They are widely considered to be the single most important event leading to the gay liberation movement and the modern fight for LGBT rights . Wayne R. Dynes , author of the Encyclopedia of Homosexuality , wrote that drag queens were

4104-572: The opioid crisis in North America , its work with Enron , and its work for authoritarian regimes like Saudi Arabia and Russia . The criminal investigation by the US Justice Department , with a grand jury to determine charges, is into its role in the opioid crisis and obstruction of justice related to its activities in the sector. McKinsey & Company was founded in Chicago under

4218-586: The steamship General Slocum caught fire in the East River , killing 1,021 people. In 1911, the Triangle Shirtwaist Factory fire , the city's worst industrial disaster, killed 146 garment workers and spurred the growth of the International Ladies' Garment Workers' Union and major improvements in factory safety standards. New York's non-White population was 36,620 in 1890. New York City

4332-618: The waterfronts since Dutch colonial times; reclamation is most prominent in Lower Manhattan, with developments such as Battery Park City in the 1970s and 1980s. Some of the natural relief in topography has been evened out, especially in Manhattan. McKinsey %26 Company McKinsey & Company (informally McKinsey or McK ) is an American multinational strategy and management consulting firm that offers professional services to corporations, governments, and other organizations. Founded in 1926 by James O. McKinsey , McKinsey

4446-480: The 1990s, the African Burying Ground was discovered; the cemetery included 10,000 to 20,000 graves of colonial-era Africans, some enslaved and some free. The 1735 trial and acquittal in Manhattan of John Peter Zenger , who had been accused of seditious libel after criticizing colonial governor William Cosby , helped to establish freedom of the press in North America . In 1754, Columbia University

4560-525: The 19th century, the city was transformed by both commercial and residential development relating to its status as a national and international trading center , as well as by European immigration, respectively. The city adopted the Commissioners' Plan of 1811 , which expanded the city street grid to encompass almost all of Manhattan. The 1825 completion of the Erie Canal through central New York connected

4674-601: The August 2003 blackout. On December 25, 2009, probation and federal oversight of the DEP ended. Facilitates DEP employee reporting of observed environmental violations and unsafe employee conditions. Helps employees identify and prevent the harassment and intimidation of co-workers engaged in such activities. - 24/7 confidential employee concerns hotline - contract management plan to quicken execution of safety-related contracts - risk management program Rates conditions by priority, enabling

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4788-671: The British occupation began, the Great Fire of New York destroyed nearly 500 buildings, about a quarter of the structures in the city, including Trinity Church . In January 1785, the assembly of the Congress of the Confederation made New York City the national capital. New York was the last capital of the U.S. under the Articles of Confederation and the first capital under the Constitution of

4902-518: The Bronx , and Staten Island . Anchored by Wall Street in the Financial District, Manhattan , New York City has been called both the world's premier financial and fintech center and the most economically powerful city in the world. As of 2022 , the New York metropolitan area is the largest metropolitan economy in the world , with a gross metropolitan product of over US$ 2.16 trillion. If

5016-558: The County of New York (which then included parts of the Bronx), the County of Richmond, and the western portion of the County of Queens. The opening of the New York City Subway in 1904, first built as separate private systems, helped bind the new city together. Throughout the first half of the 20th century, the city became a world center for industry, commerce, and communication. In 1904,

5130-545: The DEP in 1998. On August 29, 2001, the DEP pleaded guilty in federal court to criminal violations of the Clean Water Act and the Toxic Substances Control Act , and sentenced to probation. As a condition of probation, the DEP was required to implement an environmental, health and safety compliance program to prevent future environmental law violations and to improve employee safety working conditions. In 2003,

5244-585: The Dutch West India Company relinquished its monopoly over the fur trade, leading to growth in the production and trade of food, timber, tobacco, and slaves (particularly with the Dutch West Indies ). In 1647, Peter Stuyvesant began his tenure as the last Director-General of New Netherland. During his tenure, the population of New Netherland grew from 2,000 to 8,000. Stuyvesant has been credited with improving law and order; however, he earned

5358-529: The Dutch colonial Director-General Peter Minuit , as charged by the Dutch West India Company , purchased the island of Manhattan from the Canarsie , a small Lenape band, for "the value of 60 guilders " (about $ 900 in 2018). A frequently told but disproved legend claims that Manhattan was purchased for $ 24 worth of glass beads. Following the purchase, New Amsterdam grew slowly. To attract settlers,

5472-597: The Dutch instituted the patroon system in 1628, whereby wealthy Dutchmen ( patroons , or patrons) who brought 50 colonists to New Netherland would be awarded land, local political autonomy, and rights to participate in the lucrative fur trade. This program had little success. Since 1621, the Dutch West India Company had operated as a monopoly in New Netherland, on authority granted by the Dutch States General . In 1639–1640, in an effort to bolster economic growth,

5586-580: The Native Americans and epidemics brought on by contact with the Europeans caused sizeable population losses for the Lenape between 1660 and 1670. By 1700, the Lenape population had diminished to 200. New York experienced several yellow fever epidemics in the 18th century, losing ten percent of its population in 1702 alone. In the early 18th century, New York grew in importance as a trading port while as

5700-470: The New York metropolitan area were its own country , it would have the tenth-largest economy in the world . Despite having a 24/7 rapid transit system , New York also leads the world in urban automobile traffic congestion . The city is home to the world's two largest stock exchanges by market capitalization of their listed companies: the New York Stock Exchange and Nasdaq . New York City

5814-636: The Office of Environmental, Health and Safety Compliance (EHS) was formed to administer the DEP's comprehensive safety and compliance efforts, which included the EHS Employee Concerns Program. In 2006, the term of probation was extended and the BWT was included under the federal monitor's oversight following a discharge of untreated sewage into the East River after emergency generators failed to operate during

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5928-578: The Revolutionary War and escaped slaves, a significant free-Black population gradually developed in Manhattan. The New York Manumission Society worked for abolition and established the African Free School to educate Black children. It was not until 1827 that slavery was completely abolished in the state . Free Blacks struggled with discrimination and interracial abolitionist activism continued. New York City's population jumped from 123,706 in 1820 (10,886 of whom were Black and of which 518 were enslaved) to 312,710 by 1840 (16,358 of whom were Black). Also in

6042-415: The United States . As the U.S. capital, New York City hosted the inauguration of the first President, George Washington , and the first Congress , at Federal Hall on Wall Street . Congress drafted the Bill of Rights there. The Supreme Court held its first organizational sessions in New York in 1790. In 1790, for the first time, New York City surpassed Philadelphia as the nation's largest city. At

6156-436: The United States . As many as 800 languages are spoken in New York City, making it the most linguistically diverse city in the world. In 2021, the city was home to nearly 3.1 million residents born outside the U.S., the largest foreign-born population of any city in the world. New York City traces its origins to Fort Amsterdam and a trading post founded on Manhattan Island by Dutch colonists around 1624. The settlement

6270-416: The United States. New York City has more than double the population of Los Angeles , the nation's second-most populous city. With more than 20.1 million people in its metropolitan statistical area and 23.5 million in its combined statistical area as of 2020, New York City is one of the world's most populous megacities . The city and its metropolitan area are the premier gateway for legal immigration to

6384-486: The accounting practice into Chicago-based Wellington & Company. A Wellington project that accounted for 55 percent of McKinsey, Wellington & Company's billings was about to expire and Kearney and Bower had disagreements about how to run the firm. Bower wanted to expand nationally and hire young business school graduates, whereas Kearney wanted to stay in Chicago and hire experienced accountants. In 1937, James O. McKinsey died after catching pneumonia. This led to

6498-844: The agency to identify and address more than 44,000 specific workplace conditions Ensures DEP follows all federal, state and local environmental, health and safety regulations by developing written policies, conducting training, and by purchasing and distributing safety equipment. Since 2001, DEP has invested about $ 160 million in environmental health and safety programs. In 2011, the New York City Water Board appointed Veolia Water to partner with DEP in an effort to identify opportunities to make improvements in every aspect of New York City's drinking water, sewage collection, and wastewater treatment operations. Veolia teamed with McKinsey & Company and Arcadis to acquire additional analytical and technical expertise, respectively. The initiative, branded "Operational Excellence (OpX): The Best Always Do Better,"

6612-432: The area for France and named it Nouvelle Angoulême (New Angoulême ). A Spanish expedition, led by the Portuguese captain Estêvão Gomes sailing for Emperor Charles V , arrived in New York Harbor in January 1525 and charted the mouth of the Hudson River , which he named Río de San Antonio ('Saint Anthony's River'). In 1609, the English explorer Henry Hudson rediscovered New York Harbor while searching for

6726-550: The article, McKinsey was cited as claiming that its consultants were not motivated by money, and that partners talked to each other with "a sense of personal affection and admiration". The article described a culture clash that occurred in the early 1990s, leading to the departure of 151 out of the 254 ICG staff members. In their 1997 book Dangerous Company: Management Consultants and the Businesses They Save and Ruin , authors James O'Shea and Charles Madigan said that McKinsey's culture had often been compared to religion , because of

6840-496: The beginning of McKinsey's shift from accounting to "softer" aspects of management, like skills and culture. According to David Guest from King's College , In Search of Excellence became popular among business managers because it was easy to read, well-marketed and some of its core messages were valid. However, it was disliked by academics because of flaws in its methodology. Additionally, a 1984 analysis by BusinessWeek found that many of those companies identified as "excellent" in

6954-493: The beginning of the 1990s. By the mid-1990s, crime rates started to drop dramatically due to revised police strategies, improving economic opportunities, gentrification , and new residents, both American transplants and new immigrants from Asia and Latin America. New York City's population exceeded 8 million for the first time in the 2000 United States census ; further records were set in 2010 , and 2020 U.S. censuses. Important new sectors, such as Silicon Alley , emerged in

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7068-534: The business elite lobbied for the establishment of Central Park , which in 1857 became the first landscaped park in an American city. The Great Irish Famine brought a large influx of Irish immigrants, of whom more than 200,000 were living in New York by 1860, representing over a quarter of the city's population. Extensive immigration from the German provinces meant that Germans comprised another 25% of New York's population by 1860. Democratic Party candidates were consistently elected to local office, increasing

7182-510: The city from New Jersey. The East River—a tidal strait —flows from Long Island Sound and separates the Bronx and Manhattan from Long Island. The Harlem River , another tidal strait between the East and Hudson rivers, separates most of Manhattan from the Bronx. The Bronx River , which flows through the Bronx and Westchester County , is the only entirely freshwater river in the city. The city's land has been altered substantially by human intervention, with considerable land reclamation along

7296-439: The city rapidly replaced Wuhan , China as the global epicenter of the pandemic during the early phase, straining the city's healthcare infrastructure. Through March 2023, New York City recorded more than 80,000 deaths from COVID-19-related complications. New York City is situated in the northeastern United States , in southeastern New York State, approximately halfway between Washington, D.C. and Boston . Its location at

7410-440: The city's drinking water: the Croton system, the Catskill system, and the Delaware system. The overall distribution system has a storage capacity of 550 billion US gallons (2.1 × 10 m) and provides over 1 billion US gallons (3,800,000 m) per day of water to more than eight million city residents and another one million users in four upstate counties bordering on the water supply system. The distribution system

7524-447: The city's economy. The advent of Y2K was celebrated with fanfare in Times Square . New York City suffered the bulk of the economic damage and largest loss of human life in the aftermath of the September 11, 2001, attacks . Two of the four airliners hijacked that day were flown into the twin towers of the World Trade Center, resulting in the collapse of both buildings and the deaths of 2,753 people, including 343 first responders from

7638-615: The city's ties to the South and its dominant party. In 1861, Mayor Fernando Wood called on the aldermen to declare independence from Albany and the United States after the South seceded, but his proposal was not acted on. Anger at new military conscription laws during the American Civil War (1861–1865), which spared wealthier men who could afford to hire a substitute, led to the Draft Riots of 1863 , whose most visible participants were ethnic Irish working class. The draft riots deteriorated into attacks on New York's elite, followed by attacks on Black New Yorkers after fierce competition for

7752-468: The city. DEP carries out federal Clean Water Act rules and regulations, handles hazardous materials emergencies and toxic site remediation , oversees asbestos monitoring and removal , enforces the city's air and noise codes, bills and collects on city water and sewer accounts, and manages citywide water conservation programs. Its regulations are compiled in title 15 of the New York City Rules . NYCDEP manages three upstate supply systems to provide

7866-456: The colony and allowed for religious freedom. In 1667, during negotiations leading to the Treaty of Breda after the Second Anglo-Dutch War , the victorious Dutch decided to keep the nascent plantation colony of what is now Suriname , which they had gained from the English, and in return the English kept New Amsterdam. The settlement was promptly renamed "New York" after the Duke of York (the future King James II and VII). The duke gave part of

7980-442: The colony to proprietors George Carteret and John Berkeley . On August 24, 1673, during the Third Anglo-Dutch War , Anthony Colve of the Dutch navy seized New York at the behest of Cornelis Evertsen the Youngest and rechristened it "New Orange" after William III , the Prince of Orange . The Dutch soon returned the island to England under the Treaty of Westminster of November 1674. Several intertribal wars among

8094-634: The company performed more than 1,000 e-commerce projects from 1998 to 2000 alone. An October 1, 2000, article in the New York Times described the compulsory mini-courses that McKinsey—and its two largest rivals Boston Consulting and Bain—offered their "hyper-educated" young new recruits. Once completed, these newly certified management consultants would begin their work of "advising the executives of multibillion-dollar companies" on "projects" not related to their academic backgrounds"—"[l]awyers would help packaged-foods companies develop new products, and physicists would tell Internet start-ups how to stand out from

8208-469: The crowd." The burst of the dot-com bubble led to a reduction in utilization rates of McKinsey's consultants from 64 to 52 percent. Though McKinsey avoided dismissing any personnel following the decline, the decline in revenues and losses from equity-based payments as stock lost value, together with a recession in 2001, meant the company had to reduce its prices, cut expenses and reduce hiring. In 2001, McKinsey launched several practices that focused on

8322-417: The development of large housing tracts in eastern Queens and Nassau County , with Wall Street leading America's place as the world's dominant economic power. The United Nations headquarters was completed in 1952, solidifying New York's global geopolitical influence, and the rise of abstract expressionism in the city precipitated New York's displacement of Paris as the center of the art world. In 1969,

8436-407: The division of McKinsey, Wellington & Company in 1939. The accounting practice returned to Scovell, Wellington & Company, while the management engineering practice was split into McKinsey & Company and McKinsey, Kearney & Company. Bower had partnered with Guy Crockett from Scovell Wellington, who invested in the new McKinsey & Company and became managing partner, while Marvin Bower

8550-406: The end of 1790, the national capital was moved to Philadelphia . During the 19th century, New York City's population grew from 60,000 to 3.43 million. Under New York State's gradual emancipation act of 1799, children of slave mothers were to be eventually liberated but to be held in indentured servitude until their mid-to-late twenties. Together with slaves freed by their masters after

8664-541: The firm felt would follow its advice. Bower also established the firm's language. In 1932, the company opened its second office in New York City . In 1935, McKinsey left the firm temporarily to be the chairman and CEO of client Marshall Field's . In 1935, McKinsey merged with accounting firm Scovell, Wellington & Company, creating the New York-based McKinsey, Wellington & Co. and splitting off

8778-536: The firm had a "button-down culture" focused on "playing by the rules". In his 2013 book, The Firm: The Story of McKinsey and Its Secret Influence on American Business , Duff McDonald described how McKinsey's consultants were expected to become a part of the community and recruit clients from church, charitable foundations, board positions and other community involvements. McDonald wrote that McKinsey calls itself "The Firm" and its employees "members". BusinessWeek summarized The Firm ' s description of McKinsey as

8892-635: The firm tried to acquire talent in IT services through a $ 10 million purchase of the Information Consulting Group (ICG), but a culture clash caused 151 out of the 254 ICG staff members to leave by 1993. In 1994, Rajat Gupta became the first non-American-born partner to be elected as the firm's managing director. By the end of his tenure, McKinsey had grown from 2,900 to 7,700 staff and 58 to 84 locations. He opened new international offices in cities such as Moscow , Beijing and Bangkok . Continuing

9006-744: The firm's revenues declined. New competitors like the Boston Consulting Group and Bain & Company created increased competition for McKinsey by marketing specific branded products, such as the Growth–Share Matrix , and by selling their industry expertise. In 1971, McKinsey created the Commission on Firm Aims and Goals, which found that McKinsey had become too focused on geographic expansion and lacked adequate industry knowledge. The commission advised that McKinsey slow its growth and develop industry specialties. In 1975, John L. Neuman,

9120-477: The firm, since it prides itself on integrity and client confidentiality. McKinsey no longer maintains a relationship with either senior partner. Senior partner Anil Kumar, described as Gupta's protégé, left the firm after the allegations in 2009, and pleaded guilty in January 2010. While he and other partners had been pitching McKinsey's consulting services to the Galleon Group, Kumar and Rajaratnam reached

9234-457: The founding of a Dutch fur trading settlement on Governors Island . In 1625, construction was started on a citadel and Fort Amsterdam , later called Nieuw Amsterdam (New Amsterdam), on present-day Manhattan Island. The colony of New Amsterdam extended from the southern tip of Manhattan to modern-day Wall Street , where a 12-foot (3.7 m) wooden stockade was built in 1653 to protect against Native American and English raids. In 1626,

9348-466: The ice (and its subsequent retreat) contributed to the separation of what is now Long Island and Staten Island. That action left bedrock at a relatively shallow depth, providing a solid foundation for most of Manhattan's skyscrapers. The Hudson River flows through the Hudson Valley into New York Bay . Between New York City and Troy, New York , the river is an estuary . The Hudson River separates

9462-474: The influence, loyalty and zeal of its members. The firm has a policy against discussing specific client situations. A September 1997 The News Observer story said that McKinsey's internal culture was "collegiate and ruthlessly competitive" and has been described as arrogant. Ethan Rasiel's 1999 book entitled The McKinsey Way , described a culture at McKinsey's whereby members were not supposed to "sell" their services. The Sunday Times wrote that McKinsey

9576-416: The interests of clients before McKinsey's revenues, not discuss client affairs, tell the truth even if it means challenging the client's opinion, and only perform work that is both necessary and that McKinsey can do well. Bower created the firm's principle of only working with CEOs, which was later expanded to CEOs of subsidiaries and divisions. He also created McKinsey's principle of only working with clients

9690-542: The last American stronghold in Manhattan, causing George Washington and his forces to retreat across the Hudson River to New Jersey , pursued by British forces. After the battle, in which the Americans were defeated, the British made the city their military and political base of operations in North America. The city was a haven for Loyalist refugees and escaped slaves who joined the British lines for freedom promised by

9804-420: The mandatory retirement age of 60. The firm is also managed by a series of committees that each has its own area of responsibility. By 2013, McKinsey was described as having a decentralized structure, whereby different offices operate similarly, but independently. The company's budgeting is centralized, but individual consultants are given a large degree of autonomy. As a global firm McKinsey does not have

9918-419: The most populous urbanized area in the world in the early 1920s, overtaking London . The metropolitan area surpassed 10 million in the early 1930s, becoming the first megacity . The Great Depression saw the election of reformer Fiorello La Guardia as mayor and the fall of Tammany Hall after eighty years of political dominance. Returning World War II veterans created a post-war economic boom and

10032-598: The mouth of the Hudson River , which feeds into a naturally sheltered harbor and then into the Atlantic Ocean , has helped the city grow in significance as a trading port. Most of the city is built on the three islands of Long Island, Manhattan, and Staten Island. During the Wisconsin glaciation , 75,000 to 11,000 years ago, the New York City area was situated at the edge of a large ice sheet . The erosive forward movement of

10146-544: The name James O. McKinsey & Company in 1926 by James O. McKinsey , a professor of accounting at the University of Chicago . He conceived the idea after he had witnessed inefficiencies in military suppliers while he was working for the United States Army Ordnance Department . The firm called itself an "accounting and management firm" and started out giving advice on using accounting principles as

10260-445: The only " transgender folks around" during the June 1969 Stonewall riots. The transgender community in New York City played a significant role in fighting for LGBT equality. In the 1970s, job losses due to industrial restructuring caused New York City to suffer from economic problems and rising crime rates. Growing fiscal deficits in 1975 led the city to appeal to the federal government for financial aid; President Gerald Ford gave

10374-657: The other organizations with McKinsey's values and culture. McKinsey's alumni have been appointed as CEOs or high-level executives. In his 2010 publication, The Lords of Strategy: The Secret Intellectual History of the New Corporate World , business journalist Walter Kiechel traced the roots of a profound change in corporate management to "four mavericks" in the 1960s—Fred Gluck at McKinsey & Company, Boston Consulting Group's Bruce Henderson, Bill Bain at Bain & Company, and Harvard Business School professor, Michael Porter. Kiechel recounted how they "revolutionized

10488-530: The position of managing director. Davis promised a return to the company's core values after a period in which the firm had expanded rapidly, which some McKinsey consultants felt was a departure from the company's heritage. Also in 2003, the firm established a headquarters for the Asia-Pacific region in Shanghai . By 2004, more than 60 percent of McKinsey's revenues were generated outside the U.S. The company started

10602-401: The public and social sector. It took on many public sector or non profit clients on a pro bono basis. By 2002, McKinsey had invested a $ 35.8 million budget on knowledge management , up from $ 8.3 million in 1999. Its revenues were 50, 20, and 30 percent from strategy, operations, and technology consulting, respectively. In 2003, Ian Davis , the head of the London office, was elected to

10716-422: The reason. In 2021, McKinsey's Australian office made two acquisitions, Hypothesis, a digital product development company, and Venturetec, an innovation consulting firm. On June 1, 2022, McKinsey announced that it had acquired Caserta, a data engineering firm. In March 2023, McKinsey announced a layoff of 1,400 employees, in a rare job cut of the company. McKinsey & Company was originally organized as

10830-482: The region the client's headquarters are located in and specialists that have either an industry or functional expertise. Unlike some competing consulting firms, McKinsey does not hold a policy against working for multiple competing companies (although individual consultants are barred from doing so). McKinsey & Company was the first management consultancy to hire recent graduates instead of experienced business managers, when it started doing so in 1953. According to

10944-546: The same year, McKinsey had six offices in major US cities, including San Francisco , Cleveland , Los Angeles and Washington D.C. , as well as six abroad. These foreign offices were primarily in Europe , such as in London , Paris , and Amsterdam , as well as in Melbourne . By this time, one third of the company's revenues originated from its European offices. Guy Crockett stepped down as managing director in 1959, and Marvin Bower

11058-546: The strength of DEP. The OpX program aims to streamline workflows, boost efficiency, and continuously identify opportunities for improvements that will allow DEP to maintain its level of customer service, safety, and productivity while minimizing rate increases for its roughly 836,000 rate-payers. To achieve this, the Commissioner set a goal for OpX to achieve operating benefits of $ 100–200 million by 2016. New York City New York , often called New York City or NYC ,

11172-411: The structure developed by prior directors, Gupta also created 16 industry groups charged with understanding specific markets and instituted a three-term limit for the managing director. McKinsey created practice areas for manufacturing and business technology in the late 1990s. McKinsey set up "accelerators" in the 1990s, where the firm accepted stock -based reimbursement to help internet startups ;

11286-408: The up or out policy each year. McKinsey's practice of hiring recent graduates and the "up-or-out" philosophy, were originally based on Marvin Bower's experiences at the law firm Jones Day in the 1930s, as well as the " Cravath system " used at the law firm Cravath, Swaine and Moore . In recent years, it has consistently been recognized by Vault as the most prestigious consulting firm employer in

11400-826: The way we think about business, changed the very soul of the corporation, and transformed the way we work," according to the Harvard Business Press synopsis. McKinsey has been either directly involved in, or closely associated with, a number of notable scandals, involving Enron in 2001, Galleon in 2009, Valeant in 2015, Saudi Arabia in 2018, China in 2018, ICE in 2019, an internal conflict of interest in 2019 and Purdue Pharma in 2019, among others. By 2019, major news outlets, including The New York Times and ProPublica , had raised concerns about McKinsey's business practices. McKinsey & Company consultants regularly publish books, research and articles about business and management. The firm spends $ 50–$ 100 million

11514-518: The world by pinnacle height, with its spire reaching a symbolic 1,776 feet (541.3 m), a reference to the year of U.S. independence . The Occupy Wall Street protests in Zuccotti Park in the Financial District of Lower Manhattan began on September 17, 2011, receiving global attention and popularizing the Occupy movement against social and economic inequality worldwide. New York City

11628-551: The world. In 1664, New York was named in honor of the Duke of York (later King James II of England ). James's elder brother, King Charles II , appointed the Duke as proprietor of the former territory of New Netherland , including the city of New Amsterdam , when the Kingdom of England seized it from Dutch control. In the pre-Columbian era , the area of present-day New York City

11742-584: The world. In 2018, 800,000 candidates applied for 8,000 jobs. While many recruits have MBAs, by 2009, less than half of the firm's recruits were business majors; by 1999, recruits had advanced degrees in science, medicine, engineering or law. A November 1, 1993, profile story in Fortune magazine said that McKinsey & Company was "the most well-known, most secretive, most high-priced, most prestigious, most consistently successful, most envied, most trusted, most disliked management consulting firm on earth". In

11856-422: Was Juan Rodriguez , a merchant from Santo Domingo who arrived in Manhattan during the winter of 1613–14, trapping for pelts and trading with the local population as a representative of the Dutch colonists. A permanent European presence near New York Harbor was established in 1624, making New York the 12th-oldest continuously occupied European-established settlement in the continental United States , with

11970-552: Was heavily affected by Hurricane Sandy in late October 2012. Sandy's impacts included flooding that led to the days-long shutdown of the subway system and flooding of all East River subway tunnels and of all road tunnels entering Manhattan except the Lincoln Tunnel . The New York Stock Exchange closed for two days due to weather for the first time since the Great Blizzard of 1888 . At least 43 people died in New York City as

12084-472: Was a pioneer in the industry—the "first firm to hire MBA graduates from the top business schools to staff its projects, rather than relying on older industry personnel." They were still trying to keep a "very low profile public image" in 2005. That year, an article in The Guardian said that McKinsey "hours are long, expectations high and failure not acceptable". According to an October 2009 Reuters article,

12198-525: Was a prime destination in the early 20th century for Blacks during the Great Migration from the American South, and by 1916, New York City had the largest urban African diaspora in North America. The Harlem Renaissance of literary and cultural life flourished during the era of Prohibition . The larger economic boom generated construction of skyscrapers competing in height. New York City became

12312-408: Was elected as managing director, a role he was re-elected for in 2012 and 2015. Rajat Gupta along with another McKinsey executive, Anil Kumar , were among those convicted in a government investigation into insider trading for sharing inside information with Galleon Group hedge fund owner Raj Rajaratnam . Though McKinsey was not accused of any wrongdoing, the convictions were embarrassing for

12426-422: Was elected in his place. McKinsey's profit-sharing, executive and planning committees were formed in 1951. The organization's client base expanded especially among governments, defense contractors, blue-chip companies and military organizations in the post– World War II era. McKinsey became a private corporation with shares owned exclusively by McKinsey employees in 1956. After Bower stepped down in 1967,

12540-443: Was elected managing director, serving until 1988. Daniel and Fred Gluck helped shift the firm away from its generalist approach by developing 15 specialized working groups within McKinsey called Centers of Competence and by developing practice areas called Strategy, Operations and Organization. Daniel also began McKinsey's knowledge management efforts in 1987. This led to the creation of an IT system that tracked McKinsey engagements,

12654-772: Was founded. The Stamp Act Congress met in New York in October 1765, as the Sons of Liberty organization emerged in the city and skirmished over the next ten years with British troops stationed there. The Battle of Long Island , the largest battle of the American Revolutionary War , was fought in August 1776 within modern-day Brooklyn. A British rout of the Continental Army at the Battle of Fort Washington in November 1776 eliminated

12768-521: Was inhabited by Algonquians , including the Lenape . Their homeland, known as Lenapehoking , included the present-day areas of Staten Island , Manhattan , the Bronx , the western portion of Long Island (including Brooklyn and Queens ), and the Lower Hudson Valley . The first documented visit into New York Harbor by a European was in 1524 by explorer Giovanni da Verrazzano . He claimed

12882-468: Was named New Amsterdam in 1626 and was chartered as a city in 1653. The city came under English control in 1664 and was temporarily renamed New York after King Charles II granted the lands to his brother, the Duke of York , before being permanently renamed New York in November 1674. New York City was the U.S. capital from 1785 until 1790. The modern city was formed by the 1898 consolidation of its five boroughs : Manhattan , Brooklyn , Queens ,

12996-565: Was one of the first management consultancies to recruit a limited number of candidates with advanced academic degrees (e.g., PhD) and deep field expertise, and who have demonstrated business acumen and analytical skills. McKinsey publishes a business magazine, the McKinsey Quarterly . McKinsey has been the subject of significant controversy and is the subject of a criminal investigation into its business practices. The company has been criticized for its role promoting OxyContin use during

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