(UPDATED) Today is a holiday in the US, but that doesn't stop music industry news from happening here and globally; so we'll be here reporting important developments . And its not too late to join our holiday weekend online networking party. Shameless plugs are allowed here.

• Kanye West attempts - rather successfully it appears - to rehabilitate his image with a series of tweets on Taylor Swift, the media and personal growth. Read the thread on Twitter here.
• Is the UK's HMV Group simply too big? (Telegraph)
• The problem with Ping. (TechCrunch)

More Music Industry News & Commentary

• A primer to 12 LA indie labels you need to know about. (LA Times)
• Huge Push In Brazil To Legalize File Sharing. (Techdirt)
• 10 Ways Internet Radio (and we think artists) Can Promote With i-Tunes Ping. (GenX Radio)
• Frosmo’s analytics help web sites engage with people, not numbers. (VentureBeat)
• Twitter power: how social networking is revolutionizing the music business. - A&R men and other traditional insiders bypassed as new sites connect artists directly to fans. (Guardian)
• Catch up on last week's top news with REWIND: Hypebot's Music Industry's Week In Review