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DJ broke the news in his diary and it's 100% true.  Blazers head honcho Steve Patterson has stepped down from his duties.  Here's DJ's report:

From the Official Blazer Website: Vulcan Inc. announced today that Tod Leiweke will assume management oversight for Trail Blazers Inc., which operates the Portland Trail Blazers franchise in the National Basketball Association. It was also announced that Steve Patterson has resigned as President and General Manager of the Portland Trail Blazers, effective immediately. Mr. Leiweke announced that an immediate search would be conducted to name a team General Manager and find a new President of Business Operations, both will be Portland-based positions responsible for the day-to-day operations of the franchise. Mr. Leiweke will continue his role as Chief Executive Officer of the Seattle Seahawks.

It seems like the Blazers and Patterson were waiting until after the trade deadline, which makes some sense.  If Steve knew they weren't going to offer him another contract he'd see no need to stick around and be a lame duck for a couple months.  I suppose just after the draft would be another logical time.

Feel free to add your reflections on the contributions/career of our former GM.

--Dave (blazersub@yahoo.com)

Update: This from Oregonlive.com.

Leiweke [Patterson's interim replacement] also chief executive officer of the Seattle Seahawks, announced that an immediate search would be conducted to name a new general manager and also to find a new president of business operations.
That wording sounds like the two positions will be separate, which (unless I miss my guess) would open the door to answering the sentiments of most Blazer fans who think Kevin Pritchard should become General Manager. --Dave