Portland City Commissioner Sam Adams is doing a victory lap over at his blog.
Here’s WalMart’s statement. Money quote:

“Together with the property owner, Howard Dietrich Jr., Wal-Mart has decided that although the Hayden Island site Is appropriately zoned for a Wal-Mart store and the store would be an allowed use, constructing a store on the site doesn’t make economic sense. Wal-Mart has a commitment to its shareholders to invest their money in projects that protect their investment…
“Wal-Mart’s decision not to pursue a new store on Hayden Island Is purely a business decision based on basic economics and cost analysis of purchasing the property and constructing the store, and is not a response to Portland Commissioner Sam Adams’ proposed temporary development moratorium on the island.”

And as I asked on Sam’s blog:

So let me get this straight: Sam has agreed to recuse himself from all future WalMart discussion/votes before City Council. Then if WalMart decides to move to another City of Portland location I’ll assume Commissioner Sam will have no part in the discussion/voting, correct? Sam, will you come on my show to discuss this? Victoria Taft, 5-8pm, Monday through Friday, on AM 860 KPAM, “The Talk Station”