From MLB TRADE RUMORS
UPDATE, 1-28-08 at 4:51pm: I honestly didn't think Angelos would interfere with this one.  But according to Ken Rosenthal, the deal is on hold and possibly off because of him.  Then again, we knew it was on hold until Tuesday anyway because of Angelos' availability.

FROM 1-28-08 at 1:43pm:

Let's get a fresh post going for the Erik Bedard rumors.

According to ESPN's Jayson Stark, the Bedard to Seattle trade awaits Peter Angelos' approval.  Angelos will not be available today to evaluate the deal because of a family matter.  So this should drag a bit more.
Stark still expects the deal to get done but verifies that Adam Jones was not sent to Baltimore for a physical.  
Jerry Crasnick says both Jones and George Sherrill have been told to take physicals in anticipation of the deal.  Sherrill disputes this in the Seattle PI, though.
Stark and Crasnick say the current package from Seattle is Jones, Sherrill, Chris Tillman, and a fourth unknown prospect.  Tillman, however, hasn't yet been informed of a trade.