Why is the Guardian Called the Grauniad?

The Guardian is commonly referred to as the Grauniad. So the story goes, back in the bad old days of hot-lead typesetting and bolshie printer's and proof-reader's unions, their command of spelling was so bad that they actually misprinted their own masthead with the above spelling. I'm not sure that is entirely true, rather the name and the story seem likely to have been an invention of Private Eye magazine. However, today we get a glimpse of the old days:

Blair's pre-announced resignation can't sure-up his future ability to govern

A headline to a piece in the comment section.
That should read "shore-up" of course.
Naughty, naughty sub-editors.
(Subs both check spelling and grammar and write headlines.)