The color and pagentry of the July 31 Trade Deadline week.

Welcome to the Trade Deadline week, where nobody lets facts get in the way of a good rumor and "consider the source" is hardly an option.

The Cincinnati Reds and the New York Yankees both really want Gerald Laird. They just don't want to give up the good young pitching that the Rangers want in return.

The Twins are supposed to be hot after Hank Blalock but don't bet on him getting traded. It's just difficult to imagine the Rangers getting what they want as far as pitching in return after all the physical problems Blalock has had. Plus he could still very well be their starting third baseman next year. The Rangers have a $6.2 million option on him for 2009 and look at that as a reasonable price for a front-line third baseman

Manny Ramirez to the Phillies is the best trade rumor of the week.

The biggest obstacle in trading Frank Catalanotto is he's signed through 2009 but word is the Rangers will be "flexible" when it comes to talking on some of his salary if they can get something decent in return.

Best July 31 in Rangers history? Doug Melvin getting Todd Stottlemyre and Todd Zeile on the same day in 1998.

Rangers owner Tom Hicks has not told general manager Jon Daniels that he has to dump salary or trim the payroll. But it will be interesting to see how many scouts show up to Arlington on Wednesday to see Vicente Padilla pitch against the Mariners.

Anybody remember that the Rangers had a deal done with the Rockies in 2005: Ian Kinsler and Erik Thompson for Larry Walker. Yes, that deal was signed, sealed and delivered until Walker exercised a no-trade clause in his contract. But then there was a time when the Rangers could have traded Ruben Mateo for Curt Schilling and Sandy Johnson once said that Steve Buechele for pitchers Kurt Miller and Hector Fajardo was Tom Grieve's "finest moment as Rangers general manager.

Melvin later traded Fajardo on July 30, 1995 but couldn't run him down in Mexico. The Rangers made the deal anyway and Melvin said it was outfielder Lou Frazier from the Expos for a "player to be found later."

Clubs used to be eager to trade potential free agents at the Deadline. Now they know the value of draft picks and won't give up a potential Type A free agent unless they can get better talent than what two top draft picks will yield. Remember the Rangers got Eric Hurley after John Thomson left as a free agent in the winter of 2003-04.

Not sure what it means when it says a club "is exploring" the possibility of acquiring somebody. Does that mean Cortez, DeSoto and LaSalle are being used as scouts now?

Bobby Valentine used to go to the Winter Meetings, make up a completely bogus but logical-sounding trade rumor and see how long he could keep it alive.

Rich Gossage didn't mention Valentine in his Hall of Fame speech today did he? Gossage threatened to tear apart Valentine in a heated hotel bar exchange right here in Oakland back in 1991.

Here's a good rumor: former Rangers president Tom Schieffer jas supposedly thrown in with one of the groups trying to buy the Chicago Cubs. No it's not with Mark Cuban. At least that's the rumor.