Paul McCartney to Headline Coachella

mojo-photo-coachellamccartney.jpg

Hey, look at that, Goldenvoice has finally announced the lineup for America's Favorite Music Festival and Hipster Haircut Showcase, and it turns out all these random rumors about Britney Spears and Katy Perry were just red herrings (thank God) since all the while they were negotiating with none other than Sir Paul. The former Beatle will headline Friday night at the 3-day event set for April 17-19, and he told the LA Times that he's "really excited to get out there and rock." Neat, but the Times seems a little skeptical about the whole idea, saying it's a bit of a gamble:

Booking the former Beatle, who is listed in the record books as the most successful musician in pop history, would be the safest choice imaginable for most music festivals. But the internationally respected Coachella festival, which is set for April 17-19, has been pulling in crowds of more than 140,000 fans by taking an edgier path with alt-rock heroes you would hear on a college town's pirate radio station. … What remains to be seen is whether the choice will cost the festival credibility with its core clientele: young fans who are more likely to listen to the White Stripes than the "White Album" and who are far more familiar with Rage Against the Machine than "Band on the Run."

Hey, actually, some of us not-so-young fans were really annoyed with the Rage crowd too. Also on the bill are a couple festival veterans, including The Cure (2004), The Killers (2004) and Morrissey (1999), as well as the finally-reunited My Bloody Valentine (on Cure day, natch). Your ridiculously-named DJ is especially excited about Buraka Som Sistema, TV on the Radio, Friendly Fires, Leonard Cohen, and having margaritas in the hot tub. Full lineup after the jump.

A Good Time To Be Rich

A GOOD TIME TO BE RICH....Here's the latest 2006 income data for the Fortunate 400:

The nation's top 400 taxpayers made more than $263 million on average in 2006, as the stock market was rallying, but paid income taxes at the lowest rate in the 15 years that the Internal Revenue Service has tracked such data, according to figures released Thursday.

....In constant dollars, the average income of the top 400 taxpayers nearly quadrupled from 1992....Meanwhile, the group's average income tax rate [] fell to 17.2% in 2006 from 18.2% the prior year. That's down from a high of 29.9% in 1995.

Just for the record, my federal income tax rate is higher than 17.2%. And yours, probably. So maybe the quarter billionaire crowd can afford a wee bit more too?

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Wind Employs More Americans Than Coal

wind.jpgThe wind energy industry is growing quickly and now employs more people than the coal industry. A report released this week by the American Wind Energy Association (AWEA) finds that 85,000 people work in wind, up from 50,000 a year ago. Todd Woody at Fortune's Green Wombat points out that 81,000 people work in the coal industry and notes, "Those figures are from a 2007 U.S. Department of Energy report but coal employment has remained steady in recent years though it's down by nearly 50% since 1986."

While there is growing demand for wind as an alternative energy source, and the industry is responding in kind—wind power generating capacity increased by 50% in 2008—it is not insulated from the broader economic slowdown. The AWEA reports that by the end of 2008 "financing for new projects and orders for turbine components slowed to a trickle and layoffs began to hit the wind turbine manufacturing sector." Notes AWEA CEO Denise Bode, granted with a vested interest:

"The U.S. wind energy industry's performance in 2008 confirms that wind is an economic and job creation dynamo, ready to deliver on the President's call to double renewable energy production in three years. At the same time, it is clear that the economic and financial downturn have begun to take a serious toll on new wind development. We are already seeing layoffs in the area where wind's promise is greatest for our economy: the wind power manufacturing sector. Quick action in the stimulus bill is vital to restore the industry's momentum and create jobs as we help make our country more secure and leave a more stable climate for our children."

So it's probably good for the wind industry that the House just passed Obama's stimulus package, the American Recovery and Reinvestment Plan, which, as the Congressional Quarterly noted, "includes $20 billion for the renewable-energy sector, including a three-year extension of the tax credit for producing electricity from wind." Needless to say, the investors are watching.

 

[Update: As commenters have pointed out, it seems I've fallen pray to a bit of an apples/oranges comparison here: The job figures for the coal sector only counted miners, while those for wind were all-inclusive. However, the trajectory for each industry remains clear: Coal is shedding jobs while wind is growing quickly.]

[Late update: Interior Secretary Ken Salazar—"Windmills off the East Coast could generate enough electricity to replace most, if not all, the coal-fired power plants in the United States."]


Photo used under Creative Commons license

Note to Trophy Wives: This Feminist Has Your Back

The Times ran an article about support groups for the wives/girlfriends of newly dispossessed Wall Street Banker types that bears feminist perusal:

The economic crisis came home to 27-year-old Megan Petrus early last year when her boyfriend of eight months, a derivatives trader for a major bank, proved to be more concerned about helping a laid-off colleague than comforting Ms. Petrus after her father had a heart attack.
For Christine Cameron, the recession became real when the financial analyst she had been dating for about a year would get drunk and disappear while they were out together, then accuse her the next day of being the one who had absconded.
Dawn Spinner Davis, 26, a beauty writer, said the downward-trending graphs began to make sense when the man she married on Nov. 1, a 28-year-old private wealth manager, stopped playing golf, once his passion. "One of his best friends told me that my job is now to keep him calm and keep him from dying at the age of 35," Ms. Davis said. "It's not what I signed up for."

So they get together, have (still) expensive cocktails and bemoan the halving of their monthly Bergdorf allowances while their men fall apart. Bien sur, they have a website defensively described as "free from feminist scrutiny." Well, this feminist feels you.

It would be inhuman not to expect someone whose living standard was suddenly pulled out from under them to bemoan its loss. If I can feel the pain of a recently laid-off Michigan autoworker's wife, why not that of a Bear Stearns' wife? Or the ex, with kids, who'd been living on alimony and child support from one of those Wall Street 'wunder kinds'?

Obviously, they should have saved, given that they had so much. But these women bemoan the loss of formally vital, go-getting men as much (ok, maybe as much?) as the lost ducats:

"It's a big blow to their egos and to their self-esteem," [one scholar] said of the endless stream of economic bad news, "and they may take it out on their partners and children."
Ms. Petrus, a lawyer, and Ms. Crowell, who works for a fashion Web site, started the support group when they realized that they were facing similar problems in their relationships with bankers last fall.
"We put two and two together and figured out that it was the economy, not us," Ms. Petrus recalled at a recent meeting in the lobby bar of the Bowery Hotel. "When guys in banking are going through this, they can't handle a relationship."(She and her boyfriend split up last year; he declined to discuss it.)
Many of the women said that as the economic crisis struck last fall, they began tracking the markets during the day to predict the moods that the men they loved might be in later. On big news days, like when the first proposed government bailout failed in Congress, or when Lehman went belly-up, they knew that plans to see their partners would be put off.
"I was like, 'O.K. I signed up for that, it's fine,' " said Ms. Cameron. "But all of a sudden," she said, her boyfriend "couldn't focus. If he stayed over he'd be up at some random hour checking his BlackBerry, Bloomberg, and CNBC."
One frequent topic among the group is the link between the boardroom and the bedroom. "There's actually the type of person who has a bad day on the trading floor and they want to have sex more," Ms. Spinner Davis offered as she sipped a vodka gimlet, declining to say how she knew.
Ms. Petrus chimed in.
"If you're lucky you'll get that guy," she said, not revealing whether she considered herself lucky. "Middle-case scenario: It gets relegated to the weekends.
"Worst-case scenario," she began, and then took another sip of her drink.

Is a fired steel worker, or Dollar Store worker, much different?

Granted, their men put us in the situation we're in. But we're all in free fall now. Resuming my humorless feminist persona, I'll just say that maybe now more women will make sure they have a financial fall back plan. All our hearts,of course, remain on their own.

Rod, We Hardly Knew Ye

ROD, WE HARDLY KNEW YE....The Rod Blagojevich soap opera is over. The Illinois Senate has voted to convict him on abuse of power charges and has removed him from office. Our long regional nightmare is finally over.

mojo-photo-antonyalbum.jpgNew York combo Antony and the Johnsons have made what Billboard magazine is calling "a dramatic debut" at No. 1 on their European Albums chart with their new full-length The Crying Light. The album is a Top 5 smash in countries from Sweden to Spain, and beats out both Duffy and Pink in the pan-Euro chart. Light is Antony and the Johnsons' third studio album, coming nearly four years after the Mercury Prize-winning I am a Bird Now, but its popularity may have something to do with singer Antony Hegarty's part in Hercules and Love Affair, whose "Blind" was one of the biggest dance songs of 2008.

The Crying Light, released last week, is getting good, if not stellar, reviews: Pitchfork gives it 8.6 out of 10 hipster points, but most other reviews come in below that. Rolling Stone and The Guardian both offered three out of five stars, with the latter saying the album feels familiar, stuck under "its predecessor's shadow," while acknowledging that Hegarty's voice is an "acquired taste." The album has yet to make much of an impact in the U.S., showing up only at #38 on the iTunes Alternative Albums chart. I'm kind of with the Guardian: I'd listen to Antony, with his rich, strange warble, sing his way through the phone book, but after the blast of shocking originality and heartrending emotion that was I Am a Bird Now, perhaps they could have pushed forward musically just a smidge. It's still beautiful music, though, by anyone's standards. Check out track one below.

"Her Eyes Are Underneath the Ground"

LOST: Slowly, Answers Are Coming

Last night's LOST episode, the second of the season, "Jughead," was full of answers. Or not even answers, but new information that gives reasons for answers. Now that the writers have an end date in sight, they seem to be picking up the pace and wrapping things up more tidily than last season. So what did we learn last night? Here are the highlights.

Quote of the Day - 01.29.09

QUOTE OF THE DAY....From Alison Singer, who recently quit as head of communications at Autism Speaks, on the overwhelming evidence that vaccines have nothing to do with the development of autism in children:

At some point, you have to say, "This question has been asked and answered and it's time to move on." We need to be able to say, "Yes, we are now satisfied that the earth is round."

There was a time when investigating vaccines and thimerosal as possible contributing factors for autism made sense. That time is long past. The Jenny McCarthyization of the autism movement needs to be put finally and firmly to rest, and research money spent on actual science. Enough's enough.

Factoids

FACTOIDS....How is a factoid like Schrödinger's cat? Answer here.