Lyric discussion by Suppiluliuma 

Cover art for Andy's Babies lyrics by Lloyd Cole & The Commotions

"Andy" has to be Andy Warhol. The most obvious clue is 'Perfect day' and 'White light, white heat' which are Lou Reed songs. Lou Reed as part of the Velvet Underground was supported by Andy Warhol. Lou Reed called him their protector in an interview, a video of which can be found on the internet, because Andy enabled them to do whatever they wanted, protecting them from commercial pressure. Andy Warhol supported not only them, but many other artists, So he had many "babies". Lou Reed was not a kind person, so that is probably the basis for the first verse. I have no idea who Trudy and Donald may be.

My Interpretation