Friday morning headlines

Sinking stocks: Is it any wonder, given the lousy GDP report and the impasse in Washington? Dow is down around 100 points.

Economy weakens: Second-quarter growth was only 1.3 percent and first-quarter growth was revised downward to 0.4 percent. In other words, the economy is barely crawling. From the NYT:

Usually a sharp recession is followed by a sharp recovery, meaning a recovery growth rate that is far faster than the long-term average growth rate; this time around, though, output is growing at only about a third the average rate seen in the 60 years preceding the Great Recession. As a result, the country's output is far below its potential. Particularly distressing is that consumer spending -- which, alongside housing, usually leads the way in a recovery -- has been extraordinarily weak in recent quarters. Inflation-adjusted consumer spending in the second quarter barely budged, increasing just 0.1 percent.

House may pass Boehner bill: After stalling out yesterday, the deficit package has been tweaked to appease the radical House Republicans. Look for a vote later today. From Business Insider:

While this "tweaking" may help Boehner bring over the two or three votes he needs to pass his debt limit plan, it also makes it more dissimilar to the on pushed by Senate Majority Leader Harry Reid -- and makes the ultimate compromise more difficult. After the Boehner plan passes the House (if it can get that far) it will be, in the words of Reid, "dead on arrival" in he Senate, where lawmakers were waiting up late last night for the chance to put the kibosh on his plan. President Obama has also threatened a veto, though his advisors call it a "moot point" because it will never get out of the Senate.

Oil falls to $95: That's based on new concern about the economy. Meanwhile, L.A. gas prices are pretty much unchanged from last week, according to the Auto Club, with an average gallon of regular at $3.819.

Long Beach Airport ranked most affordable: Tickets averaged $223, according to a survey by Cheapflights.com, which is far lower than the $484 average at LAX. Of course, the available destinations aren't quite the same. (Press-Telegram)

Marvel wins ruling:The Disney-owned media company was granted summary judgment in a legal dispute with the heirs to the comic book artist Jack Kirby. The ruling holds that comics and characters created by Kirby were works for hire. From the NYT:

In 2009, Mr. Kirby's heirs sent Marvel and Disney 45 notices of a plan to reclaim copyrights in a series of Marvel comics that were published from 1958 to 1963. The comics included issues of "The Amazing Spider-Man," "The Avengers," "Sgt. Fury and His Howling Commandos," and others. In her ruling on Thursday, however, Judge McMahon said the notices "did not operate to convey any federally protected copyrights."

More stadium discussions: After last night's public hearing in the Valley, the full City Council will be holding an all-day hearing today on the proposed downtown complex. A vote on the project is expected in a couple of weeks. (Daily News)