Ultra-Luminous Sources in Nearby Galaxies
  I briefly review much of the X-ray and optical data on the nature of the ULXs in nearby galaxies. I present new results on radio emission, finding that the radio is usually rather luminous and extended. I review the X-ray data on timing and spectra. There is no direct evidence in the X-ray data for either geometric or relativistic beaming and in 4 objects direct evidence against beaming. I argue that the X-ray timing and spectral properties of these objects are, in general, not good analogs of AGN or galactic black holes and that the ULX may represent a new mode of accretion only rarely seen in other objects. 
Richard Mushotzky