In the Bay Area, at least, KPIX does pretty well with reasonably hard local news (especially in the context of competing with the Comical), and while I wouldn't call any of the reporters or anchors "veterans," the on-air personnel is pretty stable. They are (seemingly) short-staffed, since poor Da Lin seems to cover every story on the weekend, but I come away from a broadcast feeling like I know what's happening locally.
That said, they can't seem to keep a weatherperson in place for more than a few months (they currently have three or four who rotate -- including one of the weekend anchors) and the sports staff is TERRIBLE (but that's true for all the stations in the area).
Thinking back to my days in LA, I remember the reporters and anchors were relatively stable, but with a difference: people stayed in the market, but rotated stations (with notable exceptions like Jim Brown, who's been at KNXT/KCBS since the Ice Age, and Fritz Coleman and Fred Roggin, who despite evidencing any humor or talent, were virtually glued to their spots at KNBC). The last time I was in town, I was surprised to see Colleen Williams, still plugging along at the anchor desk, and was delighted to see her.
--Dave Sikula