The Kindle has the ability to clip articles and clip highlights. I do it all the time when reading the NY Times on it. These clippings are saved in the "My Clippings" txt file in the Documents folder on the device. You can print that in whole or in part. It's not elegant, but it works alright for saving the occasional bit of info to refer to later.
What I really want is the ability to email clippings right from the device. I frequently find myself wanting to send an article to a friend, but it's too much trouble to clip it and then load it up on a computer when I get back home.