Jon Favreau not directing Iron Man 2?

Update: It appear that Marvel has heard the cries, and have stepped up their offer to Favreau. It seems there was some sort of miscommunication (according to Marvel at least) in that they always wanted Favreau back and didn't realize their offer was considered a lowball offer. Now negotiations have picked up quite considerably as they look to lock him in as soon as possible. Iron Man was a great movie. The reason that it was so successful was the cast, with Robert Downey playing Tony Stark/Iron Man perfectly, Gwyneth Paltrow the perfect Pepper Potts and Terrence Howard the impending War Machine. And Jon Favreau was the glue that held them all together, and did a great job adding humor and drama to what could have been a mindless summer popcorn movie. So wouldn't Marvel want him back for the sequel? IESB doesn't seem to think so. IESB has it from two sources within Marvel that they simply don't want to pay Favreau the money he deserves to do the sequel. He did the first film for cheap, as it was a risky proposition for Marvel being their first movie under the Marvel Studio banner, and it was about a hero not nearly as popular as Spider-man or the X-Men. Favreau not only made the movie watchable, he made it awesome. So why won't Marvel pay the man? Apparently they think the sequel will be successful without Favreau, which is pretty freaking ludicrous. I posted a link yesterday to an interview Terrence Howard did with saying that Favreau was signed, so I'm assuming that he just doesn't know the status on the whole ordeal. Favreau also just posted on his MySpace page that he's had one phone call in the past five weeks regarding negotiations, which is pretty insane. Marvel, PLEASE pay Favreau a bit more. He did a great job with the film, will keep the continuity of the first in the second, and will help the sequel be a success. Jon Favreau not directing Iron Man 2?