I just read this post on the Dystel & Goderich Lit Agency blog. It's kind of scary. "[I]f editors and publishers keep trying to build front lists with 'big' books at the expense of their backlists, then when this publishing economic downturn is over, there will be no backlist in the pipeline."
As someone with the realistic goal of becoming a midlist writer, and the willingness to claw my way up and then hang on tightly, like a kitten climbing up a curtain, this scares the willies out of me. It's hard enough to kickstart a writing career without all this stupid economic crisis stuff everywhere. *sulks*