SOdhner writes: Red Bull is sponsoring an interesting stunt: "Red Bull Stratos, a mission to the edge of space, seeks to surpass limits that have existed for 50 years. Felix Baumgartner will undertake a stratospheric balloon flight to 120,000 feet and attempt a freefall jump targeted to reach – for the first time in history – supersonic speeds."
The previous record was set by Joe Kittinger as part of a US government experiment, and who is also attached to this project. This should be a record for speed (mach 1 in freefall), freefall altitude (23 miles up),
Highest manned balloon flight, and Longest freefall duration (about five and a half minutes before he opens the chute). Link to Original Source