First I read of this:

http://news.yahoo.com/blogs/sideshow/stephen-hawking-says-black-holes-don-t-exist-012107567.html

"Black holes are the source of endless fascination and speculation. Do they hold the secrets of the
universe and perhaps even the key to time travel?

We may never know the answers to those questions because famed theoretical physicist Stephen Hawking
says black holes don’t actually exist. At least not in the way we’ve been taught to think about them.

"The absence of event horizons mean that there are no black holes — in the sense of regimes from which
light can't escape to infinity," Hawking writes in a new paper entitled,
"Information Preservation and Weather Forecasting for Black Holes.""