Time runs out at 11 p.m. ET (6 a.m. in Israel). Olmert said this morning that he won’t negotiate. The kidnappers already bluffed once; Debka thinks they’re good for one more. Keep an eye on this post later for updates. In the meantime, the IDF surrounded a police station in Ramallah where Eliahu Asheri’s killers were being held and got them to surrender after a three-hour standoff.

Here’s some video for you to meditate on while we wait for news. Click the image to watch.

romper-room.jpg

Update: It’s 11:20. Nothing on the wire.

Update: For whatever this is worth:

Army Radio reported … that an armed group in Gaza, “the Army of Islam,” announced nearly one half hour after the deadline passed “from now on no new information would be given,” regarding Shalit.

Update: Israel National News quotes Al Hayat as saying Shalit will be handed over to France or Egypt in return for the Gaza operation being called off and Hamas leaders arrested this week being set free.