When I spoke with Jay Farrar a few months ago, he mentioned that the Jack Kerouac-inspired project he recorded with Death Cab for Cutie's Ben Gibbard was "in the works, and it could possibly come out in the fall, like around October."
Good estimate: A press release just landed in my inbox stating that the collaboration, One Fast Move or I'm Gone: Kerouac's Big Sur, is due October 20 from F-Stop/Atlantic Records. The collection's twelve songs feature lyrics based on the prose of Kerouac's 1962 n