The Giants have signed Bengie Molina to a three-year, $17 million contract, basically adding another ill-advised long-term deal with a catcher to another one they already have (with Mike Matheny). Molina's been a better hitter recently then he gets credit for being - he has surprising power - but he's 32, fat, slow, and a catcher. I'll be surprised if the Giants get more than one decent year out Molina.
Meanwhile, the A's signed reliever Alan Embree to a two-year deal with a team option for 2009. I don't know the terms. I assumed Embree was done after his terrible 2005 with the Red Sox and Yankees, but he had a very good year with the Padres in 2006. PETCO Park does tend to cure pitchers' ills, but Embree's peripherals were solid - he struck out 53 batters while walking only 15. The Padres gain a supplemental pick because Embree was a Type B free agent, but the A's don't have to give up a pick. Assuming the money isn't outrageous, this is probably a good move for Oakland - Embree's pretty likely to keep pace with Jamie Walker and Danys Baez next year while costing a lot less than those two did.