They announced our 2007 holiday schedule at work today and they took away President's Day. In return, we get both Christmas Eve and Christmas Day as holidays (we usually only get Christmas Day), presumably since Christmas is on a Tuesday and that allows for everyone to have a four-day weekend.
But... that also means no "free" time off between Martin Luther King Jr. Day and Memorial Day. Wouldn't it make more sense to take away MLK Day and let us have New Year's Day in January and President's Day in February? It's still a 3-month span with no long weekends, but that's what sick days are for, right? :)