Word is out from several sources that Fred Thompson, is going to be announcing to enter the presidential race over the Fourth of July holiday. Most notable among the links is the Politico : 
Thompson’s formal announcement is planned for Nashville. Organizers say the red pickup truck that was a hallmark of Thompson’s first Senate race will begin showing up in Iowa and New Hampshire as an emblem of what they consider his folksy, populist appeal.
A testing-the-waters committee is to be formed June 4 so Thompson can start raising money, and staffers will go on the payroll in early June, the organizers said. A policy team has been formed, but remains under wraps.
This is going to be an interesting situation. I just remarked to my wife last evening , after watching the current crop of republican front runners spout, “Where the hell is Fred Thompson? it’s time for him to show up. ” Apparently, his people agree with that assessment.
The timing and the nature of this pre-announcement suggests that a July 4 announcement was always in the works. The timing of this announcement also suggests that Thompson in his people have been watching the developments in the republican nomination race very closely indeed.
What will the most interesting to me, is the polling bounce that Thompson gets of this announcement.
Some of the others noting the non-event:
CNN Political Ticker, The Caucus , Townhall.com , MSNBC , Wizbang , Hot Air,  No Silence Here,  Captain’s Quarters  , TIME , PSoTD , Michael P.F. van der GaliÃ«n , Cliff Schecter  Babalu Blog 
…..Update: Or, not, perhaps. 
TA3: “There will be no July 4 announcement… There was some discussion of a June 4 beginning of fundraising; that’s the date checks will be collected. I suspect that’s where there was some confusion.”
My gut instinct after talking with TA3 is that there will be an announcement in July, but not July 4.
Let’s consider this closely; a rumor hits the net about Fred Thompson running for president, or at least, that he will be making an announcement in a little over a month’s time. Immediately said rumor gets viral.
Clearly there is a good deal of excitement surrounding the very possibility that we are actually going to have a strong conservative nominee. I have been saying since the late nineties that despite the fact that he was the best choice of the availables, GWB was no conservative. Frankly, while any of them would be better than any Democrat… though not by much… none of the other frontrunners appeared to be any better than GWB’s centertism, and most of them are actually worse, in that regard.
Thompson running for president, is a serious threat to the Democrats on the very face of it.. but more…. Consider the number of people who being conservative republicans, did not vote for GWB, for whatever reasoning, in the last two elections. presented with a genuine conservative, these people will come back to voting Republican before the echo dies.
Thompson, therefore, would end up being the biggest target of the democrats, even before the primary season is over. I think, therefore, Thompson is wise to keep himself out of the fray for as long as possible.