What are the chances we get something in return. I would think he may be of use in the weaker NL and would still get something for such a scarce commodity, though struggling. (If he turns it around he'll be valuable for the Reds).

But I'm glad to see him go and not have any more high leverage situations.

The current pitching staff, with the exception of the DL'd Speier, and SP Lilly (insert replacement league average pitcher here, ie: Gil Meche), then its probably very similar to the 2007 version.

Ryan, League, Accardo, Downs, Tallet, Frasor, Rosario.
Halladay, Burnett, Lilly (Starter X), Marcum, Chacin.
X-Factor: McGowan.

I've always wondered why they say "a player to be named" later.  It's surely not because they haven't decided yet?

In a post-deadline trade it could be because the other player would not pass through waivers and has to be named at the end of the season to be traded. However, that's not going to be the case here.

Instead, it's most likely either
a) nothing - Toronto clearing the books of Schoeneweis' salary for the rest of the year but they don't want to announce it like that
b) a list of players Toronto can choose from - Toronto simply wants more time to evaluate the players before making a final decision
c) a conditional player - perhaps Toronto has worked out a deal with Cincy based on a condiiton (such as whether the Reds make the playoffs or not) and they get one player if they do and another (or no player) if they don't. These conditions could also be based on how well Schoeneweis pitches or how many appearances he gets or something.

Given his contract, I would suspect the return is minimal and that it's perhaps a C+ prospect if Cincy makes the playoffs and nothing if they don't. Of course, I wouldn't trade Kearns and Lopez for two middle relievers, either.

Given the lack of quality bullpen free agents, I am guessing Schoeneweis probably would have been a type 'B' free agent, meaning either a first or second round pick depending on the new team's positioning in the standings. That said, the Jays would have faced the risk of him accepting arbitration and then the Jays could not sign him for less than a 20 per cent pay decrease. Too risky, given that he'll be lucky to get more than $1 to $1.5 million next year based on 2006.

I don't expect the player coming back will be anything significant. At best, I'd say the recently designated for assignment William Bergolla (infielder) or a Brian Wolfe-type player, whom the Jays got for Koskie.

According to www.foxsports.com  Hinske has passed waivers and and on his way to the Red Sox after being a late Scratch from today's game!

FOX Story

"I talked to three teams and said, ‘Whoever wants the player can have him,'" Jays G.M. J.P. Ricciardi told FOXSports.com. "Wayne Krivsky said, ‘I'll take him right now.'

According to www.foxsports.com  Hinske has passed waivers and and on his way to the Red Sox after being a late Scratch from today's game!

That's still a bit premature.  Rosenthal's piece said the Jays and Red Sox are talking.  Sportsnet showed Hinske on the bench tonight, so he hasn't gone anywhere yet.

Chacin will be getting another rehab start according to the foxsports link above.  The Jays have called up Francisco Rosario to take Schoeneweis' spot.

If the Hinske move gets done, it puts the Jays in a sticky situation.

1) Cat will have to be resigned. That or some other quality lefty bat.

2) (1) is even more emphasized if Vernon gets traded.

3) There's an extra onus on predicting the market. The money saved will be valuable, no doubt, but if it just results in a lateral move (i.e. Koskie, Shea, SS, instead of Delgado) and the Jays end up with some so-so talent in exchange for an .800 OPS bat vs righties it would really hurt the Jays depth.

4) Extra pressure on Glaus' body playing at third base all the time.

5) Hinske is The Dude.

So let me get this straight. (And this post isn't entirely serious, but do you really expect me to analyze a LOOGY transaction?)

J.P. Ricciardi said they no longer needed Schoeneweis: At this point Schoeneweis was more of a luxury than a need. Tallet, Downs and Davis Romero have all pitched well.

Tallet and Downs are scrap-heap guys. Equivalent to minor-league free agents (and I think Downs was one). Romero, of course, has never pitched in the major leagues.

But Ricciardi also got pretty mad about this: You get more excited when we sign a minor-league free agent who has never played in the major leagues than when we sign Scott Schoeneweis

Anyway, this move merits a "meh" on the Trade Scale of Excitement.

Here's a link saying it's done http://redsox.bostonherald.com/redSox/view.bg?articleid=153177

I'll miss him but if the Jays don't take back any salary it saves almost $7 Million.

It looks like JP's focus is saving cash for next year.  The Schoeneweis trade saved $600,000 which can be applied to next year, a Hinske deal could save $1 mil this year and $4 next.  That gives JP flexibility and appears to reinforce the expectation that the Jays don't have a lot of money to work with next season.  If Hinske is dealt the two trades will give JP a $2 million higher payroll next season.  Also because JP is dealing contracts the Jays won't get a decent prospect back in return.

 Here's the link .

That said, the Jays would have faced the risk of him accepting arbitration and then the Jays could not sign him for less than a 20 per cent pay decrease.

No, they could.  The 20% decrease doesn't apply to unrestricted FAs - only the arbitration years before free agency.  (I'm not sure there's examples where UFAs got more than a 20% decrease, but it can happen.)