Should news organizations endorse candidates?

TIME magazine's managing editor offers an intriguing question: why do newspapers endorse political candidates?
I'm curious what you think. You are the generation at issue here. What does it mean to you if the Wisconsin State Journal says it thinks you should pick, say, McCain over Huckabee. Take it closer to home. Does it matter who the Herald or Cardinal endorse as the best in the race? Does that kind of endorsement affect how you judge their objectivity or credibility?