Max McGraw started an electrical-contracting business around 1900, when he was still a teenager in Iowa. In 1926, McGraw moved to Chicago, purchased a toaster company, and set up an electrical appliance business, the McGraw Electric Co. By the mid-1950s, the company had over 1,000 workers in the Chicago area. In 1957, McGraw bought Thomas A. Edison Inc. and formed McGraw-Edison Co., a maker of appliances, tools, and electrical equipment. By the mid-1960s, annual sales topped $450 million, and the company had about 20,000 workers at plants around the country. In the mid-1970s, sales passed $1 billion, and the company had about 2,200 employees in the Chicago area. In 1985, McGraw-Edison was purchased by Cooper Industries of Houston, Texas.

This entry is part of the Encyclopedia's Dictionary of Leading Chicago Businesses (1820-2000) that was prepared by Mark R. Wilson, with additional contributions from Stephen R. Porter and Janice L. Reiff.