It's no secret that Jeff Zucker is the most hated man in broadcasting. That is, if you don't work for NBC or GE. While Zucker has spent his time overseeing NBC and NBC Universal tinkering and experimenting the broadcast network into a fourth-place laughingstock, there is a reason why he continues to remain at the company and get more and more responsibility: the man makes GE money.

While the NBC broadcast network hemorrhages cash, NBCU's cable consortium makes money in buckets. Even in the NBC microcosm, NBC News is making money with 'Today' and the 'NBC Nightly News' while the entertainment and sports divisions aren't doing well. Which is why it's not surprising that news president Steve Capus defended his boss to Jon Friedman of Marketwatch.com.

Calling critics' attacks on Zucker over the Second Late Night War "unfair" and "oversimplistic," he praised Zucker for taking a chance with the Leno at 10 experiment, and gave him all the credit for his division's -- and the rest of NBCU's -- success:

"If you're going to ding him with late-night issues, then give him at least a smidgen of credit for what (else) has happened around here," he told Friedman.

Talk to others at NBC, and they'll likely tell you the same thing, even off the record. There's a lot of loyalty to Zucker in the halls of 30 Rock, and even some on the west coast, because of what he's been able to do in every part of NBCU's TV side... except NBC itself.

And that's where the argument breaks down. NBC may only account for a small percentage of NBCU's revenues, but it's watched by the most people. If USA, one of the most-watched cable channels and an NBCU staple, was consistently getting the ratings that got 'The Jay Leno Show' cancelled, they'd be ecstatic. So any failures by Zucker on NBC proper are looked at with a much bigger magnifying glass.

Zucker's decade-long tone-deafness when it comes to what makes for a successful broadcast network have just made him look foolish and GE even more foolish for hiring him, even if in reality he's done well for the company. Perception can become reality, especially in the entertainment business, and if people in the right places are perceiving that Zucker is "failing upward," then it'll be accepted as fact.

However, the loyalty he engenders will work in his favor when Comcast takes over later this year. And all he needs is one good development season to turn NBC -- and his image -- around. It's not unfathomable to think a longtime doormat can turn it around: If the Tampa Bay Rays can play in a World Series and the New Orleans Saints can reach the Super Bowl, anything can happen.