First Read

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* Lehman plans 1,200 more job cuts, just in time for Labor Day.

* Matt Cooper on Obama’s speech, vis-a-vis the Wall Street class.

* Dave Hornik on the most important part of an entrepreneur’s pitch to venture capitalists: The Ask.

* Quadrangle Group opts against matching Microsoft (f.k.a. the mystery bidder) for Greenfield Online. Looks like the PE firm didn’t want to get into a bidding war it couldn’t reasonably win.

* Does Silicon Valley face an innovation crisis?

* Growing cynicism about growing green, within the IT infrastructure space.

* Predicting the presidential election outcome based on each candidate’s web traffic data.

* Wall Street blogger loses job on Wall Street, for blogging.

* Wallstrip on General Dynamics: [youtube=http://www.youtube.com/w/?v=7t4lzvVPEJw]