I read something about this a few weeks ago in Spin and took notice of it because of R.E.M.'s involvement, but hadn't heard anything since. According to Billboard (by way of murmurs.com) the album, on Barsuk Records (get the last Long Winters album) should arrive August 10, and proceeds will go to MoveOn.org and other progressive political groups. They Might Be Giants (whose John Flansburgh organized the album), R.E.M., Death Cab for Cutie, and Tom Waits all have songs, but only They Might Be Giants' has been revealed. (Message board talk on Murmurs.com have said R.E.M.'s song will be "Final Straw," which they posted on their website months ago, and really, wasn't anything special.) I'm not blown away by the bands involved, but it's a good cause and you get a shiny new CD.

Also, Tom Waits has a new one coming out in October, Real Gone. So if you're keeping score, we can look forward to new R.E.M., Ted Leo, and Waits that month.