There is a site called Poetica, which is affiliateed with the Australian Broadcasting System. On it is some kind of a program about Lou Reed. I can't hear it because it appears to be Mac-unfriendly. But here's a description from the website:
Lou Reed was catapulted to fame as the lead singer and guitarist of The Velvet Underground, frequently described as the most influential rock group of the 1960s. Andy Warhol discovered and produced the band, using them to create a new fusion between the worlds of rock and art. Songs like Heroin created a new rawness in rock music, and without The Velvet Underground, punk music would not have been possible.
After the band’s break up Reed went on to an extraordinary and diverse career as a solo artist, and worked with David Bowie on the legendary album Transformer. This included one of Reed’s most noted compositions - Take a Walk on the Wild Side. This program maps the lyrical highlights of Reed’s career and includes the album co-written and co-produced with John Cale after Warhol’s death. The archetypal New Yorker, Reed claims that his songs are “a shot of the street”.
It's always amusing to read attempts to explain's Lou Reed's significance. I really love reading about superfamous people in the New York Times because they always have to explain who the person is. "Known as the 'King of Rock'n'Roll," Mr. Presley had such hits as 'All Shook Up,' 'That's Alright Mama,' and 'Blue Suede Shoes.' He also appeared in several films..."