According to Henry Schulman of the San Francisco Chronicle:
Schulman explains that Giants GM Brian Sabean is open to acquiring players who can help in 2009. Hank Blalock was also on the radar, but now he's back on the DL. The Rangers told a white lie to the public regarding Blalock's injury earlier this week. The Rangers had their eye on Jonathan Sanchez, but I doubt the Giants would've entertained a one-for-one swap even for a healthy Blalock.
The Marlins seemingly would swap first baseman Mike Jacobs for catcher Bengie Molina, but the Giants aren't interested. They're also reluctant to trade lefty Jack Taschner, who is under team control through 2011.