Beginning as early as the end of the week, 6,000 Borders employees will be out work, and publishers will likely lose millions of dollars in bad debt. Hardest hit will be "midlist" authors -- those whose books aren't bestsellers but still do well enough to justify their publication.
See full article on DailyFinance: http://srph.it/dgL9mP
By the way, Gina Misiroglu of Red Room put me in touch with the DailyFinance/AOL people, which is one of the great ways she's bringing traffic to Red Room and getting attention for Red Room's authors. Thank you, Gina!