Sounds like we've reached the time where the NBA lockout is going to cut into next season.  Via Ric Bucher of ESPN:

The NBA is expected to announce Friday it will postpone of the start of training camp and the opening slate of exhibition games after a negotiating session Thursday in New York between the players union director Billy Hunter and commissioner David Stern ended without a labor agreement or progress toward one soon, league sources said.

That part isn't even really what bugs me. Honestly, we all saw this coming from a mile away.  It wasn't training camp and preseason we were most concerned with losing; it was actual regular-season games. 

No, what concerns me is this part.

Stern, according to one source, told Hunter in Thursday's meeting the owners want to reduce the players' cut of basketball-related revenue (BRI) to a figure well below 50 percent.

Um, yikes.  Currently, the players get 57 percent.  They have offered to cut it down to 54 percent and would probably be open to cutting it down a little more.  They will not be open to cutting it down to "a figure well below 50 percent."

Somewhat-unrelated: happy birthday, David Stern!

UPDATE: From Woj.

After failing to make progress in collective bargaining talks with the Players Association, NBA commissioner David Stern will formally cancel the first two weeks of training camp and exhibition games in October after a call with league owners on Friday, NBA sources told Yahoo! Sports.