Josh Smith is arguably one of the NBA's top-20 players, making him the most intriguing name mentioned in rumors thus far.
While there have been no indications that there's a deal currently in the works, Hoopsworld's Alex Kennedy makes a great case for why Smith may ultimately be dealt:
Smith will be an unrestricted free agent after the season, and he has made it clear that he’s going to test the market and explore his options. If the Hawks aren’t confident that they can re-sign Smith, they may decide to trade him rather than lose him without receiving anything in return.
Smith's situation is one that Danny Ferry and the Hawks' front office must handle delicately. A versatile forward who can play all three frontcourt positions, Smith has paired up with teammate Al Horford to create one of the league's most feared frontcourt tandems, and breaking them up could be detrimental to team chemistry.
Now, like the Milwaukee Bucks, the Hawks are facing a potential lose-lose situation. Trade Smith, and the franchise could be set back a few years. Hold onto him, and Smith could walk in favor of a better opportunity this summer.
After defeating (via ESPN) the Oklahoma City Thunder on Sunday evening, you can sense that the Hawks are having none of this rebuilding (via NBA.com) talk.
Ferry made fiscally responsible moves over the summer to free up cap space, which will ideally lead to the Hawks' re-signing Smith to a monster deal in the summer of 2013.