BusinessWeek asks, “Which major American newspaper should be the first to throw up its hands and stop publishing a print product?”

This could be the worst year for newspapers since the Great Depression. The double-digit revenue declines long forecast by doomsters have arrived. While nearly all the major papers still post profits, albeit smaller than before, a few prominent ones are losing boatloads. At Hearst Newspapers’ San Francisco Chronicle, according to a deposition given by James M. Asher, the company’s chief legal and business development officer, losses of $330 million piled up between mid-2000 and September, 2006, better—or should I say worse?—than $1 million a week. During negotiations with the Pittsburgh Post-Gazette’s unions, the owning Block family disclosed that the paper lost $20 million in 2006. Late last year, The Boston Globe was headed for unprofitability as well, according to The Wall Street Journal.

And 2007 does not look materially kinder than 2006 for any of these papers. One senior executive describes the climate like this: “If you told me 24 months ago that revenues would be declining as much as they are today, I’d say you were smoking dope.”

So, which paper should be the first to abandon print? Read the piece for the author’s opinion, which differs from mine.