10:58am: MLB.com's Mark Sheldon reports (via Twitter) that there are no new talks between the Reds and Dodgers. The Reds were not receptive to the Dodgers' offer.
TUESDAY, 9:34am: Yahoo's Jeff Passan hears that the trade talks are not dead. The Reds want a decent prospect plus George Sherrill for Harang, since they're willing to eat almost $10MM of Harang's $14MM salary to make the deal cost-neutral for the Dodgers.
THURSDAY, 6:55pm: "A source from one of the clubs" gives Yahoo's Tim Brown a different take, saying that a Harang deal between these two teams is "not happening."
6:02pm: ESPN.com's Jayson Stark reports that discussions between the Dodgers and Reds have "gotten beyond the tire-kicking stage" and that the two sides are "seriously contemplating" how to complete a Harang deal. Still, Stark's source says there's still a long way to go before anything is finalized.
8:37am: The Dodgers are exploring a trade for Reds starter Aaron Harang, reports Dylan Hernandez of the L.A. Times. The Reds seek "one or two players on the Dodgers' major league roster in return." Hernandez notes that if traded Harang would be guaranteed $15MM for one year; his 2011 option would become mutual and the buyout would increase. The Reds would have to pick up part of the tab.
You might be surprised to see the Dodgers considering a salary dump acquisition, given all the rumors of their lack of spending ability. But keep in mind that GM Ned Colletti freed up $8MM in the Juan Pierre trade, which is to be used toward a starting pitcher, second baseman, and bench players. $3.85MM already went toward Jamey Carroll, so Colletti doesn't have a ton to work with.
I'm not sure who the Reds are targeting from the Dodgers for Harang, but shortstop Chin-Lung Hu would make sense.