It likely means the money-losing San Francisco newspaper is going to be around for at least a while longer. Why? Publisher and long-time Gannett executive Frank Vega would not ask Ward Bushee to abandon his secure, 21-year corporate home to be the San Francisco Chronicle's top editor unless Vega was confident owner Hearst is committed to the city for the near term. And Bushee is too smart to leave his comfy Gannett berth without that assurance.[Image: today's Chronicle, Newseum. The paper's lede Page One print story today: San Francisco Bay area homeowners "could get a big break on your mortgage from the economic stimulus package announced Thursday."]
There's been a lot of talk about this in the Republic newsroom today. Consensus is that it was a no lose for him.
ReplyDeleteSue Clark, his Corporate Guardian Angel is leaving and that's gotta hurt. He's in his late 50's and made enough that he can probably retire in a year or two. Odds are his compensation package from the Chronicle is excellent. Who knows, SF maybe his home in Phoenix and/or buying him a home in the Bay area.
So he goes out there, things tank, Hearst buys him out. He's home, he has a lot of money and he's retired. Where's the downside?