“Over the last four decades, Powell’s Books has swelled into the largest bookstore in North America — a capacious monument to reading that occupies a full square block of this often-drizzly city [Portland, Oregon]. But this year, growth has given way to anxiety.
“Michael Powell, the store’s owner, recently dropped plans for a $5 million expansion. An architect had already prepared the drawings. His bankers had signaled that financing was available. But the project no longer looked prudent, Mr. Powell concluded — not with sales down nearly 5 percent, stock markets extinguishing savings, home prices plunging and jobs disappearing.
“‘It’s going to take a period of time to recover,’ Mr. Powell said. ‘Whether it’s 2 years or 10 years I don’t know, but I don’t think it’s going to be quick. People are nervous.'” (more @ NY Times)