Word on the floor is that the Cubs have pulled out of the Jake Peavy deal. A San Diego source said that Padres GM Kevin Towers has said that the Cubs have said they're out.
Of course, that could very well mean that the Cubs are "out," but it could mean that they're out only for now. In the end, the Cubs still have the leverage in this one, and we'll see what happens.
In the Rule 5 draft, the Cubs lost once highly touted lefty Donnie Veal to the Pittsburgh Pirates. They're also completing a trade with the Reds, who will send the Cubs pitcher David Patton, whom they took in the Rule 5.