Over the last four decades, Powell\u2019s Books has swelled into the largest bookstore in North America \u201d\u201d a capacious monument to reading that occupies a full square block of this often-drizzly city. But this year, growth has given way to anxiety.<\/p>\n
Michael Powell, the store\u2019s 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 \u201d\u201d not with sales down nearly 5 percent, stock markets extinguishing savings, home prices plunging and jobs disappearing.<\/p>\n
\u201cIt\u2019s going to take a period of time to recover,\u201d\u009d Mr. Powell said. \u201cWhether it\u2019s 2 years or 10 years I don\u2019t know, but I don\u2019t think it\u2019s going to be quick. People are nervous.\u201d\u009d<\/p>\n