Here are some explanations in a random order of “importance”:
1) To correct the “so little content” – they have 8480 indexed google pages which is by no means a small amount of content.
2) Site is updated quite frequently (mainly news items) therefore is cached frequently.
3) It has been online for a while, Google values old domains and more importantly old websites.
4) Quite a large number of back links.
5) On page SEO is quite good (Use of header tags, HTML structure, linking scheme, Meta info etc…)
6) I would imagine its a combo white hat / gray hat thing with the gray hat being mainly some targeted link buys. an example would be here “xxhttp://www.billrini.com/2007/01/24/why-ach-went-away/”
Hope this helps,
Weblight