Score one for the good guys. It doesn't happen very often, and I don't feel there is about to be a surge of businessmen's turned hearts, so this particular case is probably one for the scrapbook. On the other hand, I could be (and hopefully am) wrong. The LA Times reports on this Disney-esq, feel-good story:
Billionaire Charles T. Munger said Thursday that he has scrapped plans to build 60 luxury condos on San Vicente Boulevard in favor of erecting a two-story retail complex that would retain Dutton's Brentwood Books in a new and improved space.
"I was wrong," Munger said of his plans, made public in January, to build high-end residential units as part of a mixed-use development at the property just east of Bundy Drive. The idea sparked an uprising among residents and longtime fans of Dutton's, who feared the store's demise.
Munger, 83, said the neighborhood's staunch opposition to the project and concern for Dutton's prompted his change of heart.
"Bookstores are fragile," he said. "Jostle them slightly and they never reopen. The best thing is to make sure it never closes."
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