Wow. That came as a bit of a blindside to me--while I knew publishing was in trouble, I was a bit surprised at so much trouble (read: layoffs) at one time.

I don't know much about economics, so here's my only thoughts:

1. That sucks.
   
2. A salute and raised glass and prayer for those laid off just before Christmas.
3. I doubt there will be a bail out plan for publishing.
4. The best article on how to interpret and react to these events is here.
5. 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.

As for a solution? How about a new economic plan for all of America--the publishing industry is just one more victim of our recession. But the best advice to help the industry we love seems to be: