peHUB First Read

Cofee* Harvey Rubin: Why bankers are like bacteria.

* Charlie O’Donnell: How to start a VC fund in New York City.

* Battery-maker A123 is scheduled to go public this week. Here’s the electronic roadshow.

* Morning Call: U.S. futures point lower, London falls early, European shares dip, Japan pares losses as banks recover and Hong Kong and Shanghai split.

* Vivek Wadhwa: What have VCs really done for innovation? (grating veneration of entrepreneurs as immaculate purists, forced to suffer the indignity of investment).

* Buyouts examined C-level compensation at 10 of the largest companies acquired by LBO shops in 2006. Apparently valuations aren’t the only thing to take a tumble. (sub req)

* BoA Merrill Lynch: 40% of U.S. junk bonds are likely to default by 2013.

* The Times of London portrays Incisive Media as an LBO victim, a company buckled by the weight of its own debt. Totally fair. What’s bizarre, however, is how the authors seem unbothered by the CEO’s naiveté about the structure of a deal that made him extraordinarily wealthy.

* The Bill & Melinda Gates Foundation wants to bring banking to the global poor.

* 10 ways sports stars go from riches to rags.

* Tweet of the Day: Dennis Kneale exhibits the maturity of a T-bill, five days after being printed.