The Hurney plan for 2012 is in full effect. In the same day he allowed OG Geoff Schwartz to part the team via free agency, he locked up UFA Geoff Hangartner, who started and excelled for the Panthers in 2011. While it's too early to know the terms of the deal, I expect it will range in total value anywhere from $4-$6 million, which is appropriate for a vested veteran of his stature.
This continues the Panthers methodology for team building: work from within, retain your own talent, and don't overspend. While it might take a little longer, and give off decidedly less fireworks it's a smart way to build an organization. It seems highly unlikely the Panthers would invest their 1st round pick in a guard with this signing, whether it be David DeCastro or Cordy Glenn... but time will tell, and this organization is always good for a few surprises.