GDP shrinks, Rocky Mountain News disappears

GOOD DAY FOR: Quashing ’80s nostalgia, after the Commerce Department reported that the U.S. economy contracted by a greater-than-expected 6.2 percent last quarter, its worst quarterly performance since 1982. Economists had expected fourth-quarter GDP to shrink at a 5.4 percent pace. The economy was hit by a sharp fall in consumer spending, inventory cuts at companies, and a drop in exports. (Bloomberg)

BAD DAY FOR: Rocky endings, as Colorado’s oldest newspaper, the 150-year-old Rocky Mountain News, is printing its last issue today. Owner E.W. Scripps Co. broke the news to employees at its Denver-based on Thursday, after failing to find a buyer. Editor John Temple said preparing the final issue is "like playing music at your own funeral. It’s an opportunity to make really sweet sounds or blow it.” (The Rocky Mountain News)

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