With the McCain campaign circling the drain, there is speculation that Thompson's announcement, which earlier rumors said would happen on the 4th of July, may have been delayed to coincide with McCain's withdrawal.

In related news, Tennessee Republican Party Chairman Bob Davis stepped down last week, presumably to join the Thompson campaign.

The Thompson campaign is also said to be looking to hire some former McCain campaign workers who were laid off last week. Bloomberg says that both Thompson and Giuliani could benefit from picking up some of McCain's financial backers.

And speaking of fundraising, Chris Cillizza of the Washington Post's "The Fix" blog takes a look at Fred Thompson's campaign finances and offers up some interesting theories on why Tennessee is such a reliable GOP fundraising state.