The New York Times reports:
A crude car bomb of propane, gasoline and fireworks was discovered in a smoking Nissan Pathfinder in the heart of Times Square on Saturday evening, prompting the evacuation of thousands of tourists and theatergoers on a warm and busy night. Although the device had apparently started to detonate, there was no explosion, and early on Sunday the authorities were still seeking a suspect and motive.
"The death toll could have been enormous," according to police.
Asked this morning how concerned she is that this isn't an isolated incident, DHS secretary Janet Napolitano said: "right now, we have no evidence that it is anything other than a one-off, but we are alerting state, local officials around the country, letting them know what is going on."
Bill Roggio reports that the Pakistani Taliban are claiming credit for the bomb. Allahpundit has a good roundup on the developing story at Hot Air.