Bob Lefsetz Rages Against the Machine: The industry music critic tells the Washtington Post that he really isn’t making money. He sometimes gets checks from Celebtrity Access and Yahoo! which reprints some of his screeds. “I live on a no-cash basis,” he says. “I live in a rent-controlled apartment in Santa Monica. . . . I don’t have kids or all these other expenses people have. If I’m going to dinner, somebody else is picking up the tab.” No doubt, Lefsetz knows how to strike a chord among his readers whether right or wrong. “I’m not angry; I’m just passionate about music and trying to speak the truth about it” says Lefsetz. Read the full article here.

Clear Channel Drama: Buyout firms Bain Capital and THL Partners sued a cadre of giant Wall Street banks yesterday to force them to finance the $27 billion takeover of radio company Clear Channel Communications according to the NY Post.

Reznor vs. Radiohead: Radiohead and Nine Inch Nails have been taking turns giving the music industry the finger. Both bands are coming up with innovative ideas and both are receiving major press. Trent recently sucker punched Radiohead calling their promotional strategy insincere. Who is really the better innovator? Read the full commentary here.

#2 Digital Retailer: Amazon is sitting right behind iTunes as the #2 digital retailer, and a total 239 million digital tracks have been sold this year. Amazon’s Baltaxe says the best defense against piracy is a good offense. “Songs sold without DRM, at high quality, with album art, that’s the best way to get people to buy music instead of stealing it.

Where are the new superstars? I don’t want to beat a dead horse, but here we are in 2008 and we still don’t have any new artists seriously breaking through. Look at the radio charts and you will find support acts, no headliners. Music is in third place behind movies and video games because it still cannot gain the public’s attention. The best remedy for the ailing music biz is a slew of artists popping through the pile of mediocrity, let me rephrase, the pile of shit. I agree with Clive Davis that artists need to start teaming up with good songwriters. Artists today are no doubt different than yesterday, meaning newer acts just can’t lock down great songs, let alone dress themselves. Please don’t tell me that I’m searching in the wrong places and that you found the Ark of the Covenant, it’s all bullcrap. Email tips@kingsofar.com with a link to your myspace.