Rock News: Music's high and low notes

BOWIE BONDS QUESTIONED

Billboard.com reports Moody's Investors Service has put "Bowie Bonds" on a watchlist for possible downgrading. The $55 million in bonds issued against David Bowie's future publishing royalties beginning in 1997 may be downgraded, according to Billboard.com, because of the recent downgrading of bonds held by major label EMI.

Billboard.com quoted David Pullman of the Pullman Group, sales coordinator of the asset-backed securities, as maintaining the Bowie Bonds would still carry an investment-grade rating if they were downgraded "several notches" by Moody's.

"The deal has outperformed everything in the corporate bond world," said Pullman.

When Pullman unveiled the "Bowie Bonds" -- during the stock market boom of the late 1990s -- at the MIDEM convention the industry responded favorably. At the time these were the first bonds tied to potential revenues generated from record master and publishing rights. James Brown and the Isley Brothers are among the musicians who have followed suit, but it appears that the record industry's current woes are contagious.

THERE'S NO GOOD IN GOODBYE

Three years after the death of soul and blues star Johnny Taylor, Malaco Records has announced plans to release his final album, "There's No Good in Goodbye." The album contains 15 previously unreleased tracks recorded throughout his 16-year stint at Malaco, including five from the sessions of his 1999 album, "Gotta Get The Groove Back." Taylor, best known for his crossover pop hits "Who's Making Love" (Stax) and "Disco Lady" (Columbia), possessed one of the greatest soul voices, in a class with Otis Redding, Sam Cooke and Al Green. Unlike these legendary contemporaries, Taylor spent the vast majority of his career making uncompromising R&B records and playing for inner city black audiences and the blues and soul circuit. His albums sold in black mom and pop stores, often reaching No. 1 on the Billboard Blues Chart, charting a commanding SoundScan lead above names like B.B. King, Little Milton, Delbert

McClinton, Susan Tedeschi and Bobby "Blue" Bland. Although virtually unknown outside the black community, it was not uncommon for Taylor to sell 500,000 or more units of an album. As an R&B interpreter, Taylor was without peer ­even if he lacked the widespread kudos of pop music critics for not writing his own material. His audience was fiercely loyal to the end.

During his 16 years at Malaco, Taylor consistently recorded extra tracks while making his albums, ensuring the label and his heirs would be able to assemble a first-rate album of vault jewels. Continuing the tradition, Taylor's son, Floyd Taylor, is now a Malaco recording artist. His solo debut, "Legacy," was released in spring 2002.

YELLOWCARD'S OCEAN AVENUE

Southern California punk heroes Yellowcard will release their Capitol Records debut, "Ocean Avenue," July 22. The quintet, which has created an enormous national grass-roots fan base from a relentless touring schedule, is one of the only working punk bands with a classically trained violinist in its ranks. The band is scheduled to play the 2003 Vans Warped Tour, kicking off July 18 in San Antonio.

Yellowcard has built its following by connecting personally with its fans, playing hundreds of shows at all-ages punk nights, rock dives, suburban VFW halls, living rooms and back yards. The band goes as far as to contact local high schools during tours to offer free daytime concerts at selected schools.

"Ocean Avenue," Yellowcard's major-label debut, was produced by Neal Avron and mixed by Tom Lord-Alge. The 13-song

album offers a passionate brand of anthemic and melodic punk, but with a twist -- complementing the standard band setup with the furious violin playing of Sean Mackin.

WHITE SEX MALE

Scottish electro pop-rockers Serial P.O.P. make their way to the United States this summer for a nationwide tour in support of its first full-length album, "White Sex Male." The group took the London club scene by storm last year with its debut EP. Edinburgh vocalist and guitarist George McFall spent his musical education touring Europe's

squats and fetish clubs with medieval-punk-cabaret band Dominic Waxing Lyrical. His brother, keyboardist Tom McFall, meanwhile, began programming analog synths and distorted drum beats as an engineer at London's Fortress Studios. When George joined Tom in London, the brothers enlisted bassist Dave Simandi and drummer Stu Bastiman to create Serial P.O.P.'s first recordings.

"White Sex Male" blends punk lyrics with electronic pop-rock. Tedd Hutt (Flogging Mollys, Madcap) produced the album's tracks, and techno-rock mastermind Steve Duda (NIN, A Perfect Circle) worked on the mix.

ROCK FOR TOURISM

Canada is looking to its high-profile rockers to help offset the drop in tourism prompted by the SARS outbreak. Avril Lavigne, Sarah McLachlan, Barenaked Ladies, the Tragically Hip, Sum 41, Our Lady Peace, Glenn Lewis and Remy Shand will play a one-day festival at the Skydome and Air Canada Centre June 21. Tickets go on sale Thursday at Ticketmaster Canada.