Portland’s uncertain ecenomy

The New York Times has a story today that mentions, among other things, the recently cancelled plans for a $5 million expansion to Powell’s Books.

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.

Full article here. It’s only the first few paragraphs that talk about Powell’s, but it’s still worth a read for anyone who’s visited the bookstore or has an interest in it.