The Philadelphia Phillies have reportedly refused to offer salary arbitration to free agents Pat Burrell and Jamie Moyer.
The first and most substantial effect of this decision is that, if Burrell and/or Moyer leave Philadelphia, the Phillies receive no compensatory draft picks from the signing team. However, the rule prohibiting the non-offering team from re-signing its free agents until May 1st of the following season has come off the books, so this isn't over yet.
The prospect of both Moyer and Burrell accepting salary arbitration must have spooked this team badly enough that they'd risk both walking away with NO compensation for the team. The economics of the game must be terrible right now... that, or this organization is going to coast for awhile on the goodwill it earned this year.