Technology is a marvelous thing, right? No, no, this is not a story about the Apple iPad coming out this weekend or the wonders it promises to bring -- just ask Phil Dunphy. He called it the first day of the rest of your life.

But no, the technology that has me scratching my head is 3D television. That's right, the state-of-the-art, mind-blowing idea that you will be able to watch television in a way you never have before. Bigger than a big screen. Better than high definition. More powerful that a home theater sensurround experience.

Next weekend, if you have invested in a first generation 3D TV for about $2,500, you'll be able to watch the Masters Golf Tournament in 3D. And you had better spend on the glasses, too, because not all sets are sold with the spectacles that make the 3D possible in the first place. Funny, you would think that the glasses were included, but apparently not. It's like some computers that ship without a power cord. Are you kidding me?

If you need more proof that the economic collapse is the real thing -- you know, other than your shrinking salary, skyrocketing medical insurance premiums, inability to pay off your credit cards -- here's a major sign. Oprah Winfrey's decided not to do her annual Favorite Things show for the holiday season. That's right, after seven years of largesse, The Oprah Winfrey Show has canceled the funfest of goodies.

Huffington Post has learned exclusively that Favorite Things was scrapped. It used to be a Thanksgiving week staple. The reasons are unclear, but it would seem incongruous to celebrate expensive robes, top of the line chocolates, camcorders and the like when so many people are out of work and in financial straits.

Just got a tip into TV Squad HQ; there is scuttlebutt that NBC Entertainment president Kevin Reilly is going to be fired sometime later this afternoon. Apparently, Reilly's failure to create a hit for NBC during his tenure is going to cost him his job.

If you recall, Reilly programmed a number of expensive, lavishly-done pilots for this fall season, like Kidnapped, Friday Night Lights, and Studio 60, all of which are tanking in the ratings. That along with a history of tentative decision-making was his undoing. The announcement will be made this afternoon; expect to see it in the trades tomorrow.

(Update 11:49 ET: No announcement tonight, as our tipster told us would happen. We contacted NBC for a response to this rumor and they didn't confirm or deny it. Guess we'll just keep waiting.)

(Update 10/19 8:23 PM: Well, folks, looks like the rumor -- as with all the past rumors of Reilly's firing -- didn't pan out, since he spoke at a panel of network heads earlier today. Our tipster has been thrown into TVS HQ's moat. Let's hope said tipster can avoid the crocs and piranha...)