Thanks for the memories

The Washington Post asks today, "Can bloggers fill the gap left by a shrinking press corps?"
One of the things mourned is the loss of institutional memory when there's fewer reporters on the scene. Why can't these holders of institutional memory continue on as bloggers? Or impart their memory to younger bloggers like they helped younger reporters in years gone by?
There's always been transitions in news coverage; it's just happening faster nowadays. Should Bob Gibson have stayed with the Charlottesville Daily Progress to keep their memory intact? He's probably still a great resource to his old newspaper at his new position.
If those with institutional memory consider it of such value, there should be a way to earn money on that value in the new media environment. Look to the solutions of the future, instead of just whining that the past ways haven't endured.