[Lefty Noob]

With the 2nd overall pick in the 2008 MLB Draft, the Pittsburgh Pirates have selected 3B Pedro Alvarez

According to the Associated Press, "Alvarez marks a shift in philosophy for the Pirates, who are operating under a new management team that includes president Frank Coonelly and general manager Neal Huntington... Known for their draft failures over the past decade, Coonelly and Huntington - who was hired away from the Cleveland Indians at the end of the 2007 season - are attempting to change a culture that has seen the Pirates suffer through 15 consecutive losing seasons by reallocating resources into the draft and player development." Here's hoping the new strategy works!

Pirates select Alvarez No. 2 overall - MLB - Yahoo! Sports

[Lefty Noob]

Alvarez is still not signed, and if he and the team don't agree on a deal by 11:59pm tonight, we lose him.

Check out the story at Pirates' Coonelly faces a deadline dilemma - MLB - Yahoo! Sports
It sounds like a game of chicken between the Bucs and Scott Boras, who seems to be trying to get the kid a $7-10 million bonus.

[Full Cougar]

Ya they will probably sign him.

[Lefty Noob]

They did indeed sign him. According to the AP, it was a "a minor-league contract with a $6 million signing bonus".
Pirates sign top draft pick Alvarez - MLB - Yahoo! Sports

[Full Cougar]

According to that article it looks like he dropped off a bit for his third season at Vanderbilt