<?php
$the_query = new WP_Query( 'posts_per_page=1');
if(have_posts()) : while($the_query->have_posts()) : $the_query->the_post(); ?>
    <h2><a href="<?php the_permalink(); ?>"
title="<?php the_title(); ?>"><?php the_title(); ?></a></h2>
<small>Posted by <?php the_author(); ?>, <?php the_time('M d'); ?></small>
        <?php the_content('Read More'); ?>
        <div class="separator biggap"></div>
<?php endwhile ?>
    <div id="posts_navigation">
        <?php previous_posts_link('< Newer posts',0); ?>
        <?php next_posts_link(); ?>
    </div>
<?php else : ?>
    <h2 class="center">Not Found</h2>
    <p class="center">Sorry, but you are looking for
something that isn't here.</p>
    <?php include (TEMPLATEPATH . '/searchform.php'); ?>
<?php endif; ?>