With the new NHL season beginning this week teams continue to adjust their rosters via waivers and trades.

The Tampa Bay Lightning and Vancouver Canucks went the latter route, engaging in a four-player swap on Monday, with the Lightning shipping forward Michel Ouellet and defenseman Shane O'Brien to the Canucks for defenseman Lukas Krajicek and winger Jaraj Simek.

Ouellet had been rumored on the trade block throughout the off-season and O'Brien's name had appeared in the mill over the weekend after a poor performance in the Lightning's season opener against the NY Rangers saw him scratched from the second game on Sunday.

It was believed the Cqanucks would shop a defenseman for scoring depth at forward and Krajicek had been rumored as one of those blueliners who could be moved. Simek has yet to play a game in the NHL.

One of the concerns for the Lighting was a lack of experienced depth on the blueline but while Krajicek could be considered an upgrade over O'Brien he's only 25 and has played only two NHL seasons where he's played more than 67 games due to injury, which also limited him to 39 games last season.

O'Brien appeared to be a key part of the Lightning's defense corps, racking up 21 points and 154 PIMs in 77 games last season but struggled under new Lightning head coach Barry Melrose and told the St. Petersburg Times that he saw this move coming.

He should provide the Canucks with a strong physical presence and shouldn't have much difficulty fitting into the defensive system of Vancouver head coach Alain Vigneault.

Ouellet has a reputation as a high-energy winger with a decent scoring touch, which has earned him second and third line playing time. He had 48 points in 73 games with the Penguins in 2006-07 and 36 points in 64 games with the Lightning last season.

Given the concerns over the Canucks offensive depth Ouellet could get an opportunity for more playing time on the second line  but his versatility should make him a good addition to their checking lines too.

**UPDATE** Ouellet is being sent to the Canucks minor league affiliate in Winnipeg but I suspect he'll be back with the big club sooner rather than later.

With the start of the NHL's 2008-09 season slated for October 4th several NHL teams were busy trying to pare down their rosters.

The Chicago Blackhawks made the biggest news of the day, placing veteran goalie Nikolia Khabibulin on waivers in hopes a rival club might be willing to claim him rather than trade for him.

Blackhawks GM Dale Tallon would love to move Khabibulin's $6.75 million salary for this season but it's doubtful he'll find any takers for "The 'Bulin Wall" via waivers. He might have better luck demoting Khabibulin and then placing him on recall waivers, where an interested team could claim him and only be on the hook for half his salary, with the 'Hawks having to absorb the other half.

The Tampa Bay Lightning were busy as well, trading forward Nick Tarnasky to the Nashville Predators for a conditional pick in 2009 and placing forward Michel Ouellet on waivers.

Tarnasky, a checking line forward, played 80 games for the Lightning last season and had 6 goals and ten points.

Placing Ouellet on waivers however suggests the Bolts couldn't find any takers for him via the trade market and could also mean the club now intends to retain forward Jussi Jokinen, who was the subject of trade speculation this summer but impressed new head coach Barry Melrose with a strong training camp.

Ouellet is an energetic winger who last season had 17 goals and 36 points in 64 games with the Lightning, and with an affordable $1.25 million salary cap hit he might be an affordable option for rivla clubs.

The New York Islanders meanwhile added to their blueline depth, claiming Thomas Pock off waivers from the New York Rangers.

Pock was considered a promising defense prospect several seasons ago but struggled to stick with the Rangers over the past two years. He might get a better opportunity with the Islanders.

Nearly two weeks into the NHL’s UFA pool and the depth is getting shallower.

The biggest free agent signing of note over the past several days was that of former Chicago Blackhawks forward Jason Williams, who after several days of speculation out of Ottawa had him signing with the Senators (“Done Deal” according to some internet sites) would up inking a one-year, $2.2 million contract with the Atlanta Thrashers.

Williams, 27, is coming off an injury-shortened season which saw him net 13 goals and 36 points in 43 games (four of those goals game-winners), leading the Blackhawks in power-play ice time until a sports hernia sidelined him for 35 games.

This is a good signing for a Thrashers team thin on offense heading into next season. He can play center or right wing and it’s possible he might be placed on the same line as star left wing Ilya Kovalchuk, especially on the powerplay.

In a move suggesting a trade is in the offing the Anaheim Ducks signed former Florida Panthers defenseman Steve Montador to a one-year, $800K contract.

Montador, 28, had a career year with the Panthers last season, with 23 points in 73 games and plus-minus of +1.

The Ducks are expected to dump some salary to free up valuable cap space before the start of next season with Mathieu Schneider and his $5.75 million contract for next season considered the likely candidate and Montador filling his spot on the Ducks blueline.

Tampa Bay Lightning ownership continue to load up at forward, re-signing veteran center Chris Gratton to  a one-year contract.

With seventeen forwards currently on the roster (including 2008 first overall pick Steve Stamkos) it believed the Bolts will soon shop one or two forwards for some much needed veteran depth on their blueline.

Frequently suggested trade candidates include Jussi Jokinen and Michel Ouellet.

The Toronto Maple Leafs addressed a need for more toughness, acquiring checker Ryan Hollweg from the NY Rangers for a fifth rounder in 2009.

Hollweg’s aggressive style should make him a good fit on the Leafs fourth line.

The Tampa Bay Lightning had limited cap space heading into this summer’s UFA market but they managed to land themselves a good, affordable depth winger in Michel Ouellet.

Last season Ouellet had 19 goals and 48 points in 73 games with the Pittsburgh Penguins, and it’s possible he could find himself patrolling the Bolts second line next season.

He’s got decent size at 6’ and 200 lbs and has the potential to pot over 60 points next season, especially if he’s on the wing of Vincent Lecavalier or Brad Richards, his former teammate on the Rimouski Oceanic of the QMJHL.

Lightning GM Jay Feaster doesn't have a lot of cap space to work with, but he's trying to make the most of it. There were snickers of derision when he acquired Chris Gratton from Florida and signed Jan Hlavac last month, but landing Ouellet could be a potential steal for Feaster.