Friday, July 3 | 11:52 p.m.
BY LOU BRANCACCIO,
COLUMBIAN EDITOR
Lou Brancaccio
This is the story behind the story of the huge SEH/HP deal.
***
We were onto it. We found out this big land deal was going to happen months ago. But there were complications. And we would have some difficult decisions to make. Were they the right ones?
***
Hewlett-Packard has been in this neck of the woods for some time. They brought good jobs. Their employees were good neighbors. But the printer business was going south. And its footprint was fading.
Enter SEH. It's a subsidiary of Japan's Shin-Etsu Handotai Group. It deals with hi-tech stuff like silicon wafers. HP had land and buildings it no longer needed. SEH felt like it could use it.
So negotiations began several months ago. Business negotiations. Negotiations that the media really aren't privy to. If a governmental agency is not involved, we are rarely allowed to peek inside.
But a tip from an unlikely — yet reliable — source came to us. A deal was being hatched.
So we began to work on it. City reporter Jeff Mize was assigned to the story. He's a good one. So we knew we'd get it.
But getting it and getting it early isn't always the end game. In this case, we had barely made the first step when my phone rang. It was Royce Pollard. The mayor of America's Vancouver.
The mayor. Me. We don't hang together. Oh, I see him at the occasional community function and have even served eggs with him at some schools. I mean, I know he doesn't love me — because he never calls. Yet there he was. On the phone.
He knew we were onto the proposed SEH/HP deal, and he was concerned. Very concerned. Any prepublicity, he said, could possibly kill the deal.
He asked that we hold off.
I remember grilling the good mayor pretty hard that day. How could he substantiate that an early story would kill the deal? Was he just blowing smoke? Was he overly cautious?
I told him I'd think about it.
I kicked the issue around with Jeff. On one hand, we had the story. We had enough to go with. And it was a big story, no question. On the other hand, what was the possibility of our story killing the deal? Was there any way that could happen?
***
Newspapers do listen to officials when they have a concern about story impact. It's rare but not unusual — for example — for law enforcement to ask us to hold off on a story if they believe it might endanger the life of someone or tip off someone about to be arrested.
But we are wary of holding things. We print news. This would not be an easy call.
* Could The Oregonian get it? They have good people over there. But Clark County has lately been an afterthought for them. If they got it — which they did — their reporting would not be as in-depth as ours.
* We recently lost one of our business reporters to the Portland Business Journal. She was partially in on the story before she left. Would she let her new bosses know?
* What about local bloggers? A few are active and actually pretty good. But they are better at commenting on stuff than actually rooting news out.
* Finally, how often does any given official play the "hold it" card? If they abuse it, it's much less likely I'd agree to it. The mayor rarely plays this card.
I figured there was probably about a 20 percent chance that an early story would kill the deal. Still I had to look at the possibility that if the 20 percent happened, we could be a factor in killing it.
And was our gain by having it early enough to take that risk?
I decided to hold. After all, we are part of this community.
Last Friday, shortly after noon, we had the story on our Web site. On Saturday, it was all over our front page. Did we make the right call? I think so.
Lou Brancaccio is The Columbian's editor. Reach him at 360-735-4505 or lou.brancaccio@columbian.com.
by Common Sense : 7/4/09 9:59am - Report Abuse
Lou, you did the right thing for the reasons that you mentioned. It was not as if this story was a scandal or something illegal in the wind. It was a major business transaction that needed (or may have needed) secrecy during the negotiations. The completion of the business deal is and will be good for the community. Really, if an early story that merely spoke about the possibility of a deal between HP and SEH had been published it would have been a yawner anyway.