From Yahoo News/Space:
Wait a second. The start of next year will be delayed by circumstances beyond everyone's control. Time will stand still for one second on New Year's Eve, as we ring in the New Year on that Wednesday night. As a result, you'll have an extra second to celebrate because a "Leap Second" will be added to 2008 to let a lagging Earth catch up to super-accurate clocks.
By international agreement, the world's timekeepers, in order to keep their official atomic clocks in step with the world's irregular but gradually slowing rotation, have decreed that a Leap Second be inserted between 2008 and 2009.
The extra second, ordered by the world's nominal timekeeper, the International Earth Rotation and Reference Systems Service, will be marked officially at the stroke of midnight on Wednesday in Greenwich, England, the home of what is popularly known as Greenwich Mean Time (GMT) – Coordinated Universal Time (UTC) to the more technically inclined – the standard time for the planet.
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