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Successful Trade Scenario
Congratulations on a successful trade.

Due to Indiana, Milwaukee, and L.A. Lakers being over the cap, the 25% trade rule is invoked. Indiana, Milwaukee, and L.A. Lakers had to be no more than 125% plus $100,000 of the salary given out for the trade to be accepted, which did happen here. This trade satisfies the provisions of the Collective Bargaining Agreement.
Trade ID
Trade ID #4387480

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Indiana Trade Breakdown
Change in Team Outlook: +6.9 ppg, +0.2 rpg, and +1.6 apg.
Incoming Players
Michael Redd
6-6 SG from Ohio State
23.4 ppg, 4.9 rpg, 3.8 apg in 38.1 minutes
Kwame Brown
6-11 PF / C from Glynn Academy (HS)
4.4 ppg, 5.3 rpg, 1.1 apg in 20.1 minutes
Outgoing Players
David Harrison
7-0 C from Colorado
4.8 ppg, 2.3 rpg, 0.5 apg in 13.6 minutes
Jermaine O'Neal
6-11 PF from Eau Claire (HS)
16.1 ppg, 7.7 rpg, 2.8 apg in 31.9 minutes

Milwaukee Trade Breakdown
Change in Team Outlook: -19.6 ppg, -4.3 rpg, and -2.0 apg.
Incoming Players
Jermaine O'Neal
6-11 PF from Eau Claire (HS)
16.1 ppg, 7.7 rpg, 2.8 apg in 31.9 minutes
Outgoing Players
Charlie Villanueva
6-10 PF from Connecticut
9.3 ppg, 4.7 rpg, 0.5 apg in 19.7 minutes
Jake Voskuhl
6-11 C from Connecticut
3.0 ppg, 2.4 rpg, 0.5 apg in 9.9 minutes
Michael Redd
6-6 SG from Ohio State
23.4 ppg, 4.9 rpg, 3.8 apg in 38.1 minutes

L.A. Lakers Trade Breakdown
Change in Team Outlook: +12.7 ppg, +4.1 rpg, and +0.4 apg.
Incoming Players
David Harrison
7-0 C from Colorado
4.8 ppg, 2.3 rpg, 0.5 apg in 13.6 minutes
Charlie Villanueva
6-10 PF from Connecticut
9.3 ppg, 4.7 rpg, 0.5 apg in 19.7 minutes
Jake Voskuhl
6-11 C from Connecticut
3.0 ppg, 2.4 rpg, 0.5 apg in 9.9 minutes
Outgoing Players
Kwame Brown
6-11 PF / C from Glynn Academy (HS)
4.4 ppg, 5.3 rpg, 1.1 apg in 20.1 minutes

Why would the Bucks and Pacers do that? They would want to pair JO/Redd with the player they're trading away.

Lakers make out pretty well, though.

why on earth would the Bucks do this?

Makes no sense for the Bucks. The point would be to pair the two together. Trading Redd means we're rebuilding which would mean we want Yi and Bogut to get a ton of time, we'd then be stuck with O'Neal and we'd need to give him time.

I was thinking of these same 3 teams but a different trade.

Ind sends: O'Neal, Murphy, Diener
Ind gets: Redd, Bell, Gadzuric, Voskuhl

Mil sends: Redd, Bell, Gadzuric, Voskul
Mil gets: Odom, Brown, Vujacic, Crittenton

LAL sends: Odom, Brown, Vujacic, Crittenton
LAL gets: O'Neal, Murphy, Diener

Indy gets the great shooter that JOB's system needs as well as a competent backup at the point. They also save a little bit by swapping Murphy for Gadz while giving up the better player.

Milwaukee saves a ton of money by getting out of Bell and Gadzuric's long-term contracts, not to mention Redd's. Crittenton is a pretty good PG prospect and they can take a look at Vujacic as he heads into RFA. They can also turn around and trade Odom or wait for him to expire next year.

LA gets the best player IMO and a better fit at the PF than Odom, although they have to take on Murphy.

lakers pass on 2nd deal

Why would the Lakers pass on the 2nd deal?
They keep Bynum don't they?

Why do the Bucks do this as well as the Pacers?

fit sucks? you keep your expirings and get CV for free. Lakers accept that in a heartbeat