function mouseMove(event:MouseEvent):void
{
  var p:Point = new Point(event.localX, event.localY);

  // Convert the coordinate into something we can move
  // easily into another coordinate space
  p = event.target.localToGlobal(p);

  // Convert the the coordinate spaced the dragged object is in
  p = draggedObject.parent.globalToLocal(p);

  draggedObject.x = p.x;
  draggedObject.y = p.y;
}