Consolidation has resulted in 10,000 layoffs, the demise of a beloved trade magazine, and a decline in programming quality. But industry execs are fat and happy.

Read the rest over at Salon.

Dry Cell had a recording contract with Warner Brothers Records, which had spent $325,000, by its account, on the group. One of its hottest executives, Jeff Blue, who had discovered the hugely popular rock-rap group Linkin Park, was placed in charge of Dry Cell’s future.

The group’s first single, “Body Crumbles,” was playing on radio stations across the country, and its debut album, “Disconnected,” was slated to hit stores in August.

But as the evening went on, the father of one of the members got into a heated argument with Mr. Blue over the size of the label’s promotion budget for the band, the culmination of months of behind-the-scenes angst and frayed trust. Within 48 hours he took his complaints to the label itself.

And like that, the euphoria disappeared.

Read the rest in the NYTimes article Young Band, Derailed Dream.

Absent the penalty of perjury, Major Label lawyers testified to a panel of senators in Los Angles that most artists are happy with their recording contracts. The panel, this past Tuesday, was assembled to entertain arguments as to wether legislation might be necessary to keep major record labels honest when reporting to their artists the amount of money earned on their exclusive record contracts. If enacted, this would be the beginning of government regulation of the music business; a concept that, ironically, artists are initiating.

Read the rest in the MusicDish post First Blood is Spilled at Record Industry Hearings – The War is On!!!. via Scripting.com.

Last but not least, Mark is asking what Clear Channel is up to. This sounds like big news others have missed.

For a more positive music related post local weblogger ChrisPuzak, reviews Iron Maiden’s Rock in Rio at Blogcritics.