HP creates a TouchPad buying frenzy, Libyan leader Moammar Gadhafi's whereabouts are still unknown, Hurricane Irene is headed to the United States, and more in today's Daily Scoop.

TouchPad Sells Out

After struggling to move its TouchPad tablet in retail stories, HP finally figured out the solution: offer huge discounts!

HP created a buying frenzy for its TouchPad after it lowered the price to $99, a close to $300 discount. Within hours of the deal, major retailers like Best Buy, Wal-Mart, Amazon, and others sold out their considerable inventory of the tablet.

The price reduction came after HP decided to cut ties with its webOS based TouchPad tablets after disappointing sales numbers. Earlier in the week, Best Buy revealed that it had only sold 25,000 out of its 275,000 inventory and was considering sending some back to HP.

After the price reduction, Best Buy sold through its entire inventory.

HP has stated it has some TouchPads still in its reserves and will potentially put them on the market later in the week.

Gadhafi Whereabouts Still Unknown

Where in the world is Moammar Gadhafi? Even Carmen Sandiego is impressed with Gadhafi's hiding skills.

There was much speculation on Monday and early Tuesday on where the Libyan leader might be located. Most believe he is hunkered down in a Libyan compound, but there was also speculation that he might try to escape to Russia, Venezuela or Cuba, according to The Telegraph (UK).

There was heavy speculation that South Africa had a plane ready in Tunisia to help Gadhafi escape the civil war stricken Libya, though the country's leaders have steadfastly denied that speculation.

Gadhafi was last seen in mid-June although he stated on Saturday his desire to stay within Libya and urged Libyans to support his efforts.

Hurricane Irene Gears Up

Hurricane Irene is looking more dangerous by the hour as it continues its path towards the United States. The hurricane left one million Puerto Ricans without power on Monday, destroyed Richard Branson's Virgin Islands home, and was on a path of destruction towards the Bahamas and Turks and Caicos.

For Americans it would be the first hurricane to hit land since Hurricane Ike in 2008, as it is expected to graze past Florida on Thursday before significantly hitting the Carolinas on Saturday, according to The Weather Channel.

According to the most recent projections, Hurricane Irene could reach a Category 4 potential, or winds of 135 mph, when it reaches North and South Carolina.

Officials in Florida, North Carolina, and South Carolina have all asked their citizens to be prepared for the storms and will advise on needs for evacuation, if necessary.

S&P Replaces President

Standard & Poor's is in the headlines again -- this time for replacing its president two weeks after the rating service controversially downgraded the U.S.' long-term debt.

Deven Sharma, the president of S&P since 2007, will step down on Sept 12 and be replaced by Citi Chief Operating Officer Douglas Peterson.

There is no current word on the reason for Sharma's departure, though he will stay on in a limited capacity until the end of the year. The rating service endured intense backlash to its downgrade decision, as the United States and others questioned its accuracy.