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THE LATEST REPORT ON PUBLIC LIBRARIES INDICATES that they are "financially vulnerable." Yet, the media across the country don't give a damn. The study was conducted by the highly regarded research institute Public Agenda in collaboration with the Americans for Libraries Council (ALC) and the Bill & Melinda Gates Foundation. Barely half a dozen reporters, including two from LJ and one from Walnut Creek, CA, tuned into a telephone briefing on "Long Overdue," a study of attitudes about public libraries. Walnut Creek is one of the communities that lost the opportunity to replace its old, dilapidated library on June 6, when Californians defeated a statewide construction bond issue …