As many people probably know, before Jason Schwartzman landed his role as Max in Wes Anderson's Rushmore, he was a drummer for the band Phantom Planet. After his acting career took off, he eventually left the band to pursue acting full-time, although he continued to write bits and pieces of music on his own (some of which ended up on the soundtrack for movies he starred in). Recently he decided to sit down and record an whole new album with the help of Incubus guitarist Mike Einziger, calling the new solo project Coconut Records.
Yes, as confusing as it may be, that's actually the band name... his record label is called Young Baby Records. The music does resemble Phantom Planet a bit, with that sort of Beach Boys-esque 60's pop rock sound, but as many others have pointed out, it also resembles Phoenix and Weezer at points too. While the album is a bit uneven, the stand out tracks are simply fantastic. You can order the Coconut Records debut album Nighttiming from the Young Baby Records website now. (Incidentally, Phantom Planet have also released details about a new album of their own, to be released sometime this summer. Oh the irony!)
» Bonus Track: Nighttiming