  We present a specific scenario for the link between GRB and hypernovae, based
on Blandford-Znajek extraction of black-hole spin energy. Such a mechanism
requires a high angular momentum in the progenitor object. The observed
association of gamma-ray bursts with type Ibc supernovae leads us to consider
massive helium stars that form black holes at the end of their lives as
progenitors. We combine the numerical work of MacFadyen & Woosley with analytic
calculations, to show that about 1E53 erg each are available to drive the fast
GRB ejecta and the supernova. The GRB ejecta are driven by the power output
through the open field lines, whereas the supernova is powered by closed filed
lines and jet shocks. We also present a much simplified approximate derivation
of these energetics.
  Helium stars that leave massive black-hole remnants in special ways, namely
via soft X-ray transients or very massive WNL stars. Since binaries naturally
have high angular momentum, we propose a link between black-hole transients and
gamma-ray bursts. Recent observations of one such transient, GRO J1655-40/Nova
Scorpii 1994, explicitly support this connection: its high space velocity
indicates that substantial mass was ejected in the formation of the black hole,
and the overabundance of alpha-nuclei, especially sulphur, indicates that the
explosion energy was extreme, as in SN 1998bw/GRB 980425. (abstract shortened)
