It was kind of a blip on the news front, but if you didn't see, Josh Childress from the Atlanta Hawks decided to leave the NBA and go play in Europe.
Anyways, there's a nice blog entry that covers it, including some of the summary from Hollinger and Henry Abbott (no relation) from TrueHoop.
http://dberri.wordpress.com/2008/07/23/the-childress-revolution/ (http://dberri.wordpress.com/2008/07/23/the-childress-revolution/)
If nothing else, it's an interesting view of the potential impact on the NBA from the perspective of opening up competition from what is essentially a monopoly.