Betting markets say Cleveland is now likely to lose the LeBron sweepstakes

The Cleveland Cavaliers' odds on Intrade have nose-dived from 55% to 16%, probably because of the Chicago Bulls' move to trade Kirk Hinrich, freeing enough cap room for the Bulls to take two high-profile free agents.



This is sad news for the city of Cleveland for whom it is said only half-jokingly that "our economy is based on LeBron James." (49 second video)

..."At least we're not Detroit."

I am a proud son of the Rust Belt, and I am optimistic that the rock bottom real estate prices can lead to a slow revival, but I'm just glad my family got out of there in 2000 so we can observe it from a distance.