What that means, most of all, is that the company wants him to listen. It is Columbia's belief that Rubin will hear the answers in the music — that he will find the solution to its ever-increasing woes. The mighty music business is in free fall — it has lost control of radio; retail outlets like Tower Records have shut down; MTV rarely broadcasts music videos; and the once lucrative album market has been overshadowed by downloaded singles, which mainly benefits Apple. "The music business, as a whole, has lost its faith in content," David Geffen, the legendary music mogul, told me recently. "Only 10 years ago, companies wanted to make records, presumably good records, and see if they sold. But panic has set in, and now it's no longer about making music, it's all about how to sell music. And there's no clear answer about how to fix that problem. But I still believe that the top priority at any record company has to be coming up with great music. And for that reason, Sony was very smart to hire Rick."

David J. Edmondson resigned as RadioShack’s chief executive, a week after admitting to lying on his résumé about his college credentials. The board still chose to give him more than $1 million in severance, including unused vacation.