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peHUB First Read

Cofee* European private equity is a mess. Blog post leads with Alchemy, but that’s really a small fish in the hotly-burning pond. In fact, the rapid demise of London-based, pan-European firms might ultimately be the year’s most important — and lasting — private equity story.

* Corrine Ball, co-head of restructuring at Jones Day: Looking at Chrysler’s rebound.

* Academic paper suggests that having more independent directors leads to more cronyism in top management positions (h/t @footnoted).

* Morning Call: U.S. futures point higher, London gains on oil, European shares rise on banks, the Nikkei closes above 10k and profit-taking fells Hong Kong and Shanghai.

* Will Google’s biotech investments help improve its core search product?

* George Soros plans to invest $1 billion into the cleantech space, plus donate $100 million to an environmental advisory group.

* Bilal Zuberi, a principal with VC firm General Catalyst Partners, isn’t speaking to 1,000 techies at MIT anytime soon. But if he were, this is what he’d tell them.

* Roger Altman: How to avoid greenback grief.

* And the winners of the Nobel Prize for Economics are…

* Barry Ritholtz: Financial reform died because banks run Congress.