The! Biggest! News! of! the! Day! - Not Amaranth or PPI

Here are some of the contenders for today's biggest...news...of...the...day...

• A tame PPI report that hit as pre-open stock futures bounced ...
• Concerns that Amaranth Advisors' massive losses on natural gas could be the start of larger problems in that hedge fund's "unregulated investment partnerships could create widespread financial disruptions..."
• Optimism on oil service stocks with Schlumberger (SLB) singled out as "the premium stock in the sector..."
• Word that Intel (INTC) and Yahoo (YHOO) are ramping up ad campaigns...(yes - I am still boycotting YHOO's exclamation point...)
• Motorola's (MOT) takeover of Symbol Technologies (SBL )...
• Optimism on United Technologies (UTX), General Dynamics (GD), and Medtronic (MDT) from a large-cap fund manager..
• Buzz about Mattel's (MAT) new Elmo doll...

While those are all stories worth watching, I think it is obviously clear that the biggest story is that Willie Nelson getting caught with drugs is actually being reported as a story...who is surprised by that???