The problem with giving midsummer report cards is that they’re like a “progress report” from your kid’s school. “So-and-so is in danger of getting a D in math,” one such report from my youngest son’s school said.
He ended up with a B-plus.
Being halfway through the summer means a lot of things (halfway toward a supertan, a month closer to a second straight golf-free year), but it does not mean you can give an entirely accurate reading of a team’s offseason. How are you going to judge the Portland Trail Blazers, for example, when they still have $27 million in cap space to play with?
Which brings us to the New York Knicks, who today signed center Kevin Seraphin for one year and $2.8 million, making him their eighth major offseason acquisition when you include first-round picks Kristaps Porzingis and Jerian Grant.
New York’s other free agent signees were Robin Lopez, Derrick Williams, Sasha Vujacic, Arron Afflalo and Kyle O’Quinn, and it should be noted that our New York-based columnist, Michael Scotto, broke the news of the O’Quinn and Seraphin signings (along with Josh Smith signing with the Clippers).
Credit to @sheridanhoops for being first on Seraphin signing
— Brian Windhorst (@WindhorstESPN) August 4, 2015
Thanks, Brian.
For those of you who are not following Scotto, click here and hit the follow button. The kid is very good, and he has the potential to one day sign a four-year, seven-figure deal like the one Adrian Wojnarowski just signed with Yahoo Sports. Woj is now going to be earning the type of big bucks usually doled out to TV guys who do five-minute segments on the local news in big market cities like New York, Chicago and Los Angeles. (Don’t get me started on the salary structure in journalism, with the print guys doing all the legwork and the TV guys doing the piggybacking).
But back to the Knicks.
The bottom line on their summer is that they missed out on their No. 1 target, Greg Monroe, they could not even get a meeting with LaMarcus Aldridge, and they never went after two of the guys who were originally (along with Monroe) on their top three list: Wes Mathews and Tobias Harris.
They have a better roster than the one they finished last season with, but Afflalo and Seraphin have signed one-year deals and will both be unrestricted next summer, and neither of them is going to turn New York into a playoff team.
Carmelo Anthony is on the wrong side of 30 on a team that is clearly in the throes of a haphazard rebuilding mission, and the Knicks have already traded away their 2016 first-round pick (it is going to Toronto as the final payment for Andrea Bargnani, but the pick was actually traded away — sort of — four years ago when the Knicks brought Anthony aboard and gave the Nuggets the right to swap first-round picks in 2016. So the pick that New York will send to Toronto will actually be Denver’s pick, assuming the Nuggets are slotted lower than New York and thus exercise their right to swap after the draft lottery is held next May.)
Right now we can expect the Knicks to field an opening night lineup of Jose Calderon, Afflalo, ‘Melo, Seraphin and Lopez, which is certainly better than the lineup of Jason Smith, Lance Thomas, Cole Aldrich, Langston Galloway and Tim Hardaway that took the floor for Game No. 82 last season, a 22-point loss to the Detroit Pistons on free food night at Madison Square Garden.
So for that, I am adjusting Phil Jackson’s grade upward to a C-minus.
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ATLANTIC DIVISION REPORT CARDS
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CENTRAL DIVISION REPORT CARDS
NORTHWEST DIVISION REPORT CARDS
SOUTHWEST DIVISION REPORT CARDS
PACIFIC DIVISION REPORT CARDS
And while I am adjusting grades, I am downgrading Sam Hinkie to a C-minus.
The mad scientist in Philadelphia had earned plenty of props on this site for his acquisition of three rotation players — Jason Thompson, Nik Stauskas and Carl Landry — along with a first-round pick and the right to swap two additional two first-round picks with Sacramento in the early-July deal that allowed the Kings to clear the cap space to sign Rajon Rondo, Marco Belinelli and Kosta Koufos.
The thinking here was that Thompson would be able to back up both Jahlil Okafor and Nerlens Noel at the power forward and center spots, the latter being his natural position despite his size, the former being the position he has spent the most time at during his NBA career. 
But just 22 days later, Hinkie kicked the can down the road once again by dealing Thompson to the defending NBA champion Golden State Warriors for Gerald Wallace, cash and “draft considerations.”
The Sixers’ official announcement of the trade did not even specify exactly what those “draft considerations” were, but news was eventually leaked that Philly now has the opportunity to swap the lesser of Miami or Oklahoma City’s first-round pick for Golden State’s pick next June. Couldn’t the Sixers have included that nugget of information for their fan base? This latest incarnation of what seems to be a “say as little as possible” strategy simply makes no sense.
Nor does it make much sense as far as the primary components in the deal. Wallace is finished as an NBA player, and the educated guess here is that he receives a buyout from Philly and never appears for a single moment in a Sixers uniform.
Wallace is on the books for $10.1 million in the upcoming season, whereas Thompson is due to make $6.43 million. So the Sixers lose $3.5 million worth of cap space in this deal, giving up a player who could have helped in exchange for a player who hasn’t helped anyone in three years.
This making any sense to anyone?
Well, don’t hold your breath waiting for an explanation from Hinkie or the Sixers organization. Three weeks after delivering the bad news, they still have not even said whether Joel Embiid has undergone his latest foot surgery … or even explained how Embiid broke the foot. Or why Embiid was spotted at Las Vegas summer league traipsing around without a walking boot. A question: If you were a Sixers season-ticket holder, wouldn’t you want some answers to these most basic questions? Maybe Peter May was right:
@sheridanhoops chris you really need to lose that hinkie binkie
— Peter May (@_PeterMay) July 30, 2015
The guy is leaving me scratching my head. 
It has already been reported by Scotto that the Sixers have been speaking with the representatives of restricted free agent Norris Cole, who would be a nifty acquisition if the Pelicans allowed him to leave. Not that New Orleans wants him to leave, but the kid is going to be stuck behind Jrue Holiday for the forseeable future if he stays in the Crescent City, and the Sixers could probably get him — and keep him — if they tendered an offer sheet with a first-year salary of something in the area of $8 million. Matching that offer would make the Pelicans a luxury tax team, which they don’t want to do. Cole would probably be amenable to signing a three-year deal in which only the first year’s salary was guaranteed, and the Sixers could effectively put him on a well-paid, one-year tryout to see if he could beat out Isaiah Canaan and Scotty Wilbekin — and maybe even help the Sixers win a few games. 
At a certain point, Hinkie has to establish a culture of winning, and Cole could be a catalyst.
But as August begins, the Sixers appear ready to roll out the tank again and play for ping-pong balls. They own the Lakers’ pick (protected 1-3) along with their own pick, Miami’s and Oklahoma City’s — and now the right to swap one of those last two for Golden State’s pick. The latter two teams figure to be in the playoffs, so Hinkie will likely have two lottery picks. That’s nice. But why isn’t Hinkie going for players in free agency who could help now and possibly becoming long-term assets?
Why didn’t Hinkie use one of his five second-round picks on Cliff Alexander of Kansas, who was a projected top-five pick before losing his eligibility?
Neil Olshey of Portland, no dummy, went out and scooped Alexander up.
Why didn’t Hinkie strike first? I still think Hinkie’s long-term plan is a brilliant one, building a team of young studs that can grow together and compete for multiple titles a half-decade from now when LeBron James will be on the wrong side of 35. But again, at a certain point you have to instill a winning culture, and you have to speak honestly to your fan base. Right now, he is doing neither. And that is just shameful. Think Thompson was a little excited to be getting out of Philly? Check out his tweet from after the trade was announced:
Im Goin Goin, Back Back, To CALI CALI!!!!!!!!!!!! ???? — Jason Thompson (@jtthekid) August 1, 2015
On to the scrap heap:
1. Kevin Seraphin, C, Wizards (Unrestricted): Probably the third-best French center in the NBA, depending on the relative merits of Alexis Ajinca. No question he is half the player that Rudy Gobert is. He averaged 12 minutes per game in the postseason, backing up Marcin Gortat. The five-year veteran had his best season in his sophomore campaign and has flatlined since. But he is 25 years old, so his long-term upside is still untapped. He’d like the opportunity to play consistently and is willing to take less money to do so. JULY 4 UPDATE: His friendship with new Clipper Paul Pierce could be a factor is getting him to Los Angeles as DeAndre Jordan’s replacement, but Paul Allen’s wallet could get him to Portland as Chris Kaman’s running mate. JULY 5 UPDATE: Marc Spears of Yahoo says Lakers, Wizards, Suns and Spurs in the mix. JULY 7 UPDATE: Keep an eye on the Clippers, who were linked to Seraphin by Dan Woike at the start of free agency. They still need a center to help replace the departed Jordan. UPDATE II: The Mavericks have expressed interest in Seraphin, a league source tells SheridanHoops. JULY 9 UPDATE: Wizards are conducting business as though they expect Seraphin to move on, the Washington Post reports. JULY 12 UPDATE: Wizards, Lakers and Mavericks have shown interest in Seraphin, Yahoo reports. JULY 28 UPDATE: Knicks, Lakers and Wizards remain in the hunt for Seraphin, league sources tell SheridanHoops. AUG 4 UPDATE: Signs with Knicks for one year and $2.8 million, SheridanHoops.com columnist Michael Scotto reports.
2. Tristan Thompson, F, Cavaliers (Restricted): He turned down a four-year, $52 million contract extension in October. Counting all options and qualifying offers, the Cavs already are on the hook for over $100 million in salaries next season. It’s hard to imagine GM David Griffin maxing out Kevin Love and giving $13 million annually to Thompson, who threatens a double-double every night and more than adequately replaced Love in the rotation during the latter stages of the playoffs. Griffin could allow another team to set the market or simply play a little hardball, which would make Thompson unrestricted in 2016. That might be a mistake, too, given that Thompson and LeBron James share the same agent, Rich Paul. JULY 1 UPDATE: Safe to say he made the right move turning down that $52 million extension offer in October. The Cavaliers and Thompson reportedy agreed to a five-year, $80 million deal. JULY 2 UPDATE: Thompson and the Cavs “are still apart” on contract talks, Brian Windhorst tweeted. But it’s almost certain he’ll return to Cleveland. JULY 5 UPDATE: Agent Rich Paul, who also represents LeBron James, wants the Thompson deal done before any talks on James can begin. JULY 6 UPDATE: Dialogue is ongoing, but getting nowhere, the Cleveland Plain-Dealer reports. JULY 9 UPDATE: Thompson and the Cavaliers are not close to a deal despite the LeBron agreement. The two are “not a package,” a source told ESPN. JULY 12 UPDATE: Cavaliers general manager David Griffin recently said, “We really like him. I think we’ll end up getting something done.” JULY 18 UPDATE: Thompson posted a photo on Instagram saying, “Always good seeing my brother @kevinlove. It’s never a dull moment with this guy!!” Certainly doesn’t seem like a post from a guy who will be leaving Cleveland anytime soon. JULY 28 UPDATE: The Cavaliers got a steal in Matthew Dellavedova on a one-year, $1.2 million qualifying offer in restricted free agency. The same fate could await Thompson by the end of his restricted free agency with the hope of a large payday in the summer of 2016, when the salary cap dramatically rises and the majority of teams will be loaded with cap space. UPDATE II: On a Twitter chat with his followers, LeBron James said “of course he will” when asked if Thompson would return.
3. J.R. Smith, G, Cavaliers (Unrestricted): When we first published this summer’s rankings, we wrote this: “He would be crazy to opt out, given his $6.4 million number for next season, the Cavs’ preoccupation with retaining Kevin Love and Tristan Thompson, and the fact that the light bulb is never really going to come on.” So much for expecting Smith to do the sane thing. While a half-season alongside LeBron James seemed to calm him down a bit, his two-game playoff suspension proved that he is a cheetah who isn’t changing his spots. He’s had his moments in the playoffs, especially in Game 1 of the Eastern Conference finals against Atlanta, but he is the epitome of a faulty faucet — nobody runs more hot and cold. He would have been much better off minding his P’s and Q’s for another season and hitting a fertile market next summer. JULY 2 UPDATE: With Iman Shumpert getting $40 million for four years, how high will Dan Gilbert allow his luxury tax bill to climb? That will be a factor in whether Smith stays or goes. JULY 7 UPDATE: Despite adding Mo Williams, the Cavaliers are intent on keeping Smith and Matthew Dellavedova, ESPN reports. JULY 12: Cavaliers general manager David Griffin made it clear he would like to retain Smith. JULY 18 UPDATE: Cleveland wasn’t thrilled Smith turned down his player option for this summer according to the Cleveland Plain Dealer. Former Nets assistant general manager Bobby Marks also weighed in on Smith’s decision. JULY 28 UPDATE: Smith appears to be at the mercy of the Cavaliers. Rumors surfaced about interest from the Lakers, but they are loaded at the guard spots, and the rumors were shot down. It would be stunning if he recouped the $6.4 million he passed up to become an unrestricted free agent at this point. JULY 30 UPDATE: Rumors of the Lakers having interest were shot down by Mark Medina of the L.A. Daily News.
4. Carlos Boozer, F, Lakers (Unrestricted): At this point in his career, his starting days are behind him. Boozer’s most effective role would be a scoring big man off the bench used in pick-and-roll sets with the ability to stretch the defense from the 18-foot mark. The biggest knock on Boozer is his inability to provide rim protection. JULY 6 UPDATE: Boozer has received interest from the Clippers, Spurs, Mavericks and Raptors. JULY 7 UPDATE: With the Spurs adding David West, Boozer’s chances of landing with San Antonio decreased. UPDATE II: Boozer and the Clippers have mutual interest, L.A. Times reports. JULY 13 UPDATE: Boozer has received interest from the Clippers, Spurs, Mavericks, Raptors, Knicks and Nuggets, a league source tells SheridanHoops. JULY 28 UPDATE: Knicks, Rockets and Mavericks remain in the hunt for Boozer, league sources tell Sheridan Hoops. JULY 28 UPDATE: Knicks, Rockets and Mavericks remain interested in Boozer, league sources tell SheridanHoops.
5. Norris Cole, G Pelicans (Restricted): Cole played the best basketball of his career in New Orleans after being acquired in a trade. Cole averaged 9.9 points and shot 44 percent from the field overall and 38 percent from downtown in 28 games. With Jrue Holiday an injury risk, Cole is a quality backup point guard who can provide defensive energy and scoring when called upon. JULY 10 UPDATE: The Pelicans are holding out hope they can retain Cole, Nola.com reports. JULY 14 UPDATE: The Philadelphia 76ers have expressed interest in Cole, a league source tells SheridanHoops. JULY 28 UPDATE: Cole continues to receive interest from the 76ers, but it’s unclear whether they will spend enough to pry the restricted free agent from New Orleans. At this point, signing his one-year qualifying offer and playing in Alvin Gentry’s system with the Pelicans remains a viable option, a league source tells SheridanHoops. In addition, Anthony Davis wants Cole back in New Orleans.
6. JaVale McGee, C, Sixers (Unrestricted): This is a guy who was traded to Philadelphia so that Sam Hinkie could get to the salary floor. He was waived without a buyout. As of now, he is the highest-paid player on the Sixers’ roster for next season at $12 million, and there is no doubt he will join Josh Smith as a double-dipper (a player receiving paychecks from two teams). There is no getting away from the fact that he has underachieved throughout his career, and as a double-dipper, he may not be motivated to change. A major risk/reward guy who could go boom or bust depending on who signs him. JULY 4 UPDATE: Doc Rivers placed a phone call to McGee, according to Adrian Wojnarowski of Yahoo Sports. Also, George Karl likes him, so if DeMarcus Cousins gets moved, he can become a tutor to Willie Cauley-Stein and a cohort of Rajon Rondo. JULY 5 UPDATE: With the Lakers having acquired Roy Hibbert and the Kings getting Koufos, this could be a two-horse race between the Clippers and the Blazers. Then again, there are other teams with more cap space than the Clippers who could pad McGee’s bank account. JULY 6 UPDATE: In a thin free agent market for centers at a discounted price, McGee is an option for the Clippers. JULY 13 UPDATE: Dallas had emerged as a potential suitor for McGee, but there are concerns over his health. He has played only 28 games over the past two seasons. JULY 28 UPDATE: Dallas remains interested, provided McGee is healthy enough to play. Signing Samuel Dalembert shows how desperate the Mavericks are for a big man right now.
7. Andre Miller, G, Kings (Unrestricted): Miller is like that old man in the park, he’s not flashy, but you want him on your team because he gets the job done. He was reunited with his former coach George Karl in Sacramento, one of his biggest supporters over the years. Miller is a proven playoff veteran who averaged 14 points per game during the 2013 playoffs with the Nuggets under Karl. JULY 7 UPDATE: At 39, Miller would like to continue his NBA career, Bleacher Report says. July 9 UPDATE: Miller and the Kings have spoken, according to The Sacramento Bee. JULY 21 UPDATE: The Seth Curry signing could spell the end of Miller in Sacramento, according to a report. JULY 29 UPDATE: Miller gets a one-year deal from Minnesota to be the backup to Ricky Rubio and the tutor to Tyus Jones.
8. Jason Terry, G, Rockets (Unrestricted): How much more fuel does “Jet” have left? At 37, Terry is in the twilight of his career but still showed signs of being a productive bench player. Terry averaged 7.0 points per game and shot 39 percent from beyond the arc in 77 games (18 starts) for the Rockets last season. JULY 6 UPDATE: Dallas reached out to Terry about a possible reunion, The Dallas Morning News reports. JULY 13 UPDATE: Terry and the Rockets are progressing on a deal to retain the veteran guard, RealGM reports. JULY 19 UPDATE: Terry’s chances of returning to the Rockets have increased with the Ty Lawson trade, ESPN reports. JULY 22 UPDATE: The Rockets renounced their free agent exception rights to Terry, according to RealGM’s transaction log. JULY 30 UPDATE: Multiple reports say Terry is likely headed back to the Rockets, but nothing is official yet.
9. Michael Beasley, F, Heat (Unrestricted): The former 2008 No. 2 overall pick peaked at 22 when he averaged 19.2 points per game as a full-time starter for the Timberwolves. Since then? Beasley has played for three teams (Timberwolves, Suns and Heat) in four seasons — along with a stint overseas in China. Now, 26, Beasley finds himself fighting for the opportunity to play in the league again. If Samuel Dalembert can get a deal, why can’t a former No. 2 overall pick who is entering the prime years of his career? His struggles off the court are well documented, but his talent as a scorer is undeniable. JULY 28 UPDATE: Beasley could potentially return to Miami if he accepts a non-guaranteed deal, the Sun Sentinel speculates.
10. Reggie Evans, F, Kings (Unrestricted): The burly 6-foot-8, 245-pound forward is an elite rebounding machine. During the 2012-13 season, Evans led the league in total rebound percentage (26.7), defensive rebound percentage (38) and offensive rebound percentage (15.5) for the Brooklyn Nets. While limited offensively, his rebounding ability and presence as a locker room leader have drawn praise from teammates around the league over the years. JULY 28 UPDATE: DeMarcus Cousins is a big fan of Evans and has respect for the veteran forward. With a tenuous relationship between coach George Karl and Cousins, retaining Evans will help keep Cousins happy.
The Next Five: Glen Davis, Clippers (Unrestricted); Rasual Butler, Wizards (Unrestricted); Tayshaun Prince, Pistons (Unrestricted); Ben Gordon, Magic (Unrestricted); Darrell Arthur, Nuggets (Unrestricted)
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THE TOP 15 REMAINING FREE AGENTS: EDITION I; EDITION II; EDITION III; EDITION IV; EDITION V
Chris Sheridan is publisher and editor-in-chief of SheridanHoops.com. Follow him on Twitter.