Back in December last year, LiveJournal was sold to Russian company SUP. I aired my concerns then in this post, http://triman.livejournal.com/134104.html - There have been a number of changes since then that have demonstrated the new owners don't get some of the more important aspects of declarative living and web 2.0.
Anyway, as a result, many LJ Users are holding a protest on Friday GMT time, no posts, no comments, and better still no reading other LJ Users journals. If widely adopted this will hot the traffic rates on LJ and show-up on advertisers radar.
For those of us on US Central time, that means no LJ posts, comments or reading between 7pm Thursday and 7PM Friday!
A complete list of strike times can be found here.
You can read details here on LJ Founder brad journal, although he's focussed on the loss of basic accounts. One of the cheerleaders for the revolution, darkrosetiger has a good write-up here.
I've backed up my journal many times, creating PDF's by year, using LJBook. However, I read about ljarchive and tried it this morning, this could be really useful as it allows you to completely download your journal to your PC, and it can then be imported into other blogging platforms, such as wordpress.com which I like a lot. The power to leave.