IPOs are jumping and the Nasdaq is up—some mid-summer economic indicators point toward a recovery, but you wouldn't know it from retail reports. Circuit City, Good Guys, and Harvey Electronics are singing the blues, while discounter Costco is whistling all the way to the bank.

Whether or not online file-trading has had an effect on compact disc purchases <A HREF="http://www.stereophile.com/news/11643/">positive</A&gt; or <A HREF="http://www.stereophile.com/news/11679/">negative</A&gt;, a new report published by the <A HREF="http://www.ifpi.com">International Federation of the Phonographic Industry</A> (IFPI) indicates that the real problem facing the music industry worldwide is that fewer and fewer of those CD purchases are of the real thing.

Vinyl junkies who missed the <A HREF="http://www.stereophile.com/news/11417/">first official Vinyl Record Day</A> celebration last summer should mark their calendars for Saturday, August 16. On that date, the faithful will again converge in San Luis Obispo, CA's Mission Plaza to gawk at LPs, memorabilia, vintage gear, and to meet classic album cover notables.

The owners of Spanish website Puretunes.com are the latest to feel the wrath of the <A HREF="http://www.riaa.com">Recording Industry Association of America</A> (RIAA) in its campaign to rid the world of unauthorized music. The site's parent company, Sakfield Holding, will defend itself against a lawsuit filed July 3 in the US District Court for the District of Columbia. The accusation: providing illegal downloads.

Brian Damkroger ponders the <A HREF="http://www.stereophile.com//amplificationreviews/878/">Class&#233; Omega monoblock power amplifier</A>. "The Class&#233; Omega is expensive, costing $25,000/pair," notes BD. But he also finds the amp a "drop-dead-gorgeous, massive, industrial-art chunk of aluminum and steel set off with a subtle mix of curves, contours, finishes, and textures." And then there is that Class&#233; sound.

The keyboard player looked at his watch. It was midnight. "Time for my break," he said. My heart sank.

Transistors can be made to sound like tubes, digital can be made to sound like analog, and cables can be made to sound like no cables. You'd almost think we live in an age of miracles.

Transistors can be made to sound like tubes, digital can be made to sound like analog, and cables can be made to sound like no cables. You'd almost think we live in an age of miracles.

Transistors can be made to sound like tubes, digital can be made to sound like analog, and cables can be made to sound like no cables. You'd almost think we live in an age of miracles.