February 7, 2015 Last Updated 9:10 am

Crain’s Chicago Business lets go 40 year veteran and closes its Washington bureau

The Washington bureau of Crain’s Chicago Business is being closed, and with it Paul Merrion, who has been with the business newspaper since its launch in 1978, was let go.

“To reduce costs, CCB is closing its bureau in Washington, DC, and so my job has been eliminated,” Merrion told friends in a letter reproduced by TalkingBizNews.com. “It’s been a great ride, more than 40 years with one company, starting in Chicago at Business Insurance and Pensions & Investments on the day after Gerald Ford signed the Employee Retirement Income Security Act into law. Then to Washington in 1976, and a front-page byline in the very first issue of Crain’s Chicago Business in 1978.”

Merrion broke the news with a tweet late on Friday.

Despite claiming to profitable, the newspaper eliminated five positions this week in order, the paper said, to “redeploy assets”. However, no new initiatives were announced by the paper.

Crain Communication, Inc. is a privately held media company and the publisher of Advertising Age, Autoweek, Modern Healthcare, as well as business publications in Chicago, Detroit, Cleveland and New York.

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