*Derek Fisher traded to Rockets

Talk about the end of an era: The longtime point guard Derek Fisher is out and power forward Jordan Hill is in. From NBA.com:

The Lakers long have been looking for a replacement for Fisher, who has led the Lakers to five NBA titles. Fisher is 37, and has found it hard to stick with the younger, quicker point guards that now dominate the league. Still, it's a surprise to many. Fisher, who also has served as president of the National Basketball Players Association, spent the first eight years of his career with the Lakers, then re-signed with them as a free agent in 2007. He is averaging 5.9 points and 3.3 assists a game as the Lakers' starter at the point.

The Lakers have also acquired Cleveland's Ramon Sessions, sending Luke Walton and Jason Kapono to the Cavaliers. (LAT)

*From the LAT:

Fisher played his first eight NBA seasons with the Lakers before leaving for Golden State and later Utah, only to return prior to the 2007-08 season. He won five championships with the franchise. Fisher became expendable after the Lakers acquired point guard Ramon Sessions from the Cleveland Cavaliers earlier Thursday. Sessions presumably becomes the Lakers' starter, with Steve Blake backing him up off the bench.