  We propose a new model for the disk-jet connection in black hole x-ray
transients and active galactic nuclei. In our model, the inner part of the
accretion disk around the central black hole switches between two states. In
one state, the accretion energy is dissipated locally (some within the disk,
some within a corona) to produce the observed disk luminosity. In the second
state, the accretion energy is deposited into the bulk flow of a relativistic
jet. We associate the transition between the two states with the generation of
a global, poloidal magnetic field. We show that this model can explain the
observed behavior of black hole accretors.
