Found this in a post on Hoops World
Teams Looking to Trade First-Round Picks: Over the next few weeks, don’t be surprised if a large number of teams outside of the lottery try to trade their first-round pick.
Multiple sources have told HOOPSWORLD that a lot of teams are trying to get rid their pick, which could make for an interesting draft night.
"Almost everyone wants to get out of their pick in this draft," said one Western Conference executive. "For some teams, it’s hard to take on money for multiple years in this economic climate, especially if the player would not make an impact and help the team win immediately."
That means contending teams like the Oklahoma City Thunder or Chicago Bulls may opt to trade their late first-round pick rather than draft a rookie who won’t really contribute (just like Reggie Jackson and Jimmy Butler this season). Expect plenty of trade rumors over the next several weeks.
While plenty of media outlets are speculating about a potential deal between Cleveland and Phoenix, we’ve heard some talk of a possible trade between Cleveland and Washington actually. The deal would essentially be a cost-cutting move for the Wizards, sending Antawn Jamison and filler (Mike James) to the Cavs for Ben Wallace and Sasha Pavlovic. Wallace seems likely to retire, and Pavlovic is on a non-guaranteed contract for next season. It’s not clear whether the Wizards would need to surrender the #5 pick. Jamison is attractive to the Cavs since he’s exactly the type of combo forward they were missing to match up with Orlando’s Rashard Lewis and Hedo Turkoglu.
From what I hear, the Wizards aren't nearly as worried about their financial situation as people believe, and they think they can hang onto that high draft pick and add that player to their core of Jamison, Butler and Arenas.
Larry Hughes Discussion
The quest to trade Larry Hughes continues and the most promising destination still appears to be Washington for forward Etan Thomas and guard Mike James.
Thomas is injured, but that hardly matters. James, a 6-4 scoring guard, might be a personality risk. He's played on eight teams in the past six seasons. If that wasn't enough of a red flag, his family appeared on a recent episode of "Supernanny." Let's just say if James takes coaching advice in basketball as well as he took parenting advice from Supernanny, the Bulls would be in for some headaches.
I'm hearing there are other possibilities for Hughes, but my idea of sending him to Sacramento for Mikki Moore and Kenny Thomas appears to have no legs.