I don't know much about economics, so here's my only thoughts:
- That sucks.
- A salute and raised glass and prayer for those laid off just before Christmas.
- I doubt there will be a bail out plan for publishing.
- The best article on how to interpret and react to these events is here.
- Despite it all, publishing won't die, books won't fade, readers won't quit reading, and writers (especially this one) won't quit writing.
Go buy a book!!