Update: TV news is reporting that six-year-old Falcon Heene was found safe in his home. He was never actually the balloon. Now the hoax questions begin.
From the NY Times:
6:07 p.m. The 6-year boy, Falcon Heene, was just found alive, according to reporter Dan Frosch, who is at the boy's house in Fort Collins, Colo. A Larimer County Sheriff's deputy said that he was found in a box in the family's garage.
Earlier: Based on photographs from KUSA, it appears something fell off the balloon thought to be carrying 6-year-old Falcon Heene. It may be the box that law enforcement think Falcon was in when the balloon took flight.
A sherriff's deputy told KUSA he saw something fall of the balloon while it was in flight. Falcon is thought to have been playing in that box before the balloon took off.
Police believe the boy, Falcon Heene, was inside the box, which the family called a battery compartment, when the aircraft lifted off around 11 a.m.
Police say there are pegs on the bottom of the aircraft that indicate that a box was attached at some point.
Police have been searching the area looking for the box. Neither it nor the boy have been found yet.