Here are some of the contenders for today's biggest...news...of...the...day...

• The move by Wachovia Corp. (WB) to oust "Kennedy Thompson as chief executive officer...after the board blamed him for losses that cost the lender more than half its market value in the past year..."
• The purchase of China Netcom Group (CN) by China Unicom Ltd. (CHU)...
• A supply agreement between Canadian Solar Inc (CSIQ) and Neo Solar Power...
• The "debut" of mixed martial arts by CBS Corp (CBS)...
• A forecast that says "The airline industry will lose $2.3 billion this year because of hikes in oil prices..."
• Some "new math" that is allowing "Wall Street to profit from its own distress..."
• An article that says "Dividends may be in jeopardy at almost three dozen of the biggest U.S. companies where annual payouts exceed cash flow..."
• Upbeat comments on Ford Motor (F)...
• A look into the "I-Prize" from Cisco Systems' (CSCO)...

While those are all stories worth watching, I think it is obviously clear that the biggest story is this - Chile's potato claim is indigestible, says Peru. According to the article, "Peru and Chile, longtime rivals, are each laying claim to the humble vegetable..."

Regular readers will quickly recognize this as a follow-up to what we discussed back in March. This is clearly a potentially explosive situation that demands close monitoring. As the article notes -

"At stake is the reflected glory of being the home of the 'patata' (or 'papa' in the Quechua language of the Andes), celebrated this year in the UN Year of the Potato..."