peHUB First Read

Cofee* Court kills Chrysler conspiracy theories. The big takaways: “If you’re a debt holder, you need to offer solutions of your own – otherwise a company can sell its assets free and clear to a white-knight buyer. And if you’re part of a group of secured lenders, the lead agent holds sway on whether to cut deals with whomever it chooses.”

* The Blackstone Group will report Q2 earnings shortly, and I’ll be live-blogging a 9:30am media call here. Hope you join in with questions and comments. I’d bet they plan to keep close tabs on Hyatt Hotels’ IPO quest.

* Morning Call: U.S. futures point higher, London rises early, European shares rise on financials, the Nikkei climbs on autos and Hong Kong splits with Shanghai.

* Mary Shapiro wants the SEC to self-fund.

* The AIG bailout has been a fee bonanza for Wall Street lawyers, accountants and the rest.

* Changing of the guard at MIT’s Entrepreneurship Center. Morse out, Auelet in.

* CalSTRS discloses its 10-year investment plan (.pdf). The private equity info is on pages 29-32.

* Rich Jaroslovsky: Don’t blame Carol Bartz. Blame Jerry Yang.

* Transcript of a roundtable discussion between three PE secondaries players.

* VC-backed bust: Goodnight Nanochip.

* UK Treasury goes to war against vulture funds.

* Wall Street meets Madison Avenue: