Here is a link to an article I found on hoopsworld. It appears the CBA meeting yesterday went well. I know this isnt news about a trade, free agency, or Derrick Favors, but it is relevant as it impacts who the Nets will be able to sign under free agency in the future and  who they draft in 2011. 
http://www.hoopsworld.com/Story.asp?story_id=17073

Note: the 75 word requirement is entirely random.  

"IN RELATED: Vecsey is also reporting his sources close to LeBron say he has decided to return to Cleveland and will sign a three-year deal giving the Cavs three more seasons to produce a championship, then he'll head to the new Brooklyn arena."

The Quote is towards the end:
http://www.hoopsworld.com/Story.asp?story_id=16423

If the story holds true, Nets are in an excellent situation. If they do decide to draft Favors, he will have time to grow into a better player, then by year three he can come out looking like the star projected. The Next year hopefully they move to Brooklyn, and a dynasty has begun.