  We investigate a model where superconducting electrons are coupled to a
frequency dependent charge-density wave (CDW) order parameter Delta(w). Our
approach can reconcile the simultaneous existence of low energy Bogoljubov
quasiparticles and high energy electronic order as observed in scanning
tunneling microscopy (STM) experiments. The theory accounts for the contrast
reversal in the STM spectra between positive and negative bias observed above
the pairing gap. An intrinsic relation between scattering rate and
inhomogeneities follows naturally.
