Borders Pulls Out of Austin Development
On April 23, Borders Books & Music announced that it was pulling out of a proposed Austin, Texas, development situated across the street from two independent retailers, BookPeople and Waterloo Records. The bookstore chain's plans to open a store at Sixth and Lamar in downtown Austin had stirred up strong opposition. Liveable City, a local, nonprofit community organization, commissioned an economic study indicating that local merchants contribute significantly more money to the local economy than do retail chains.