* Kit Roane: 4 reasons why Texas had a better recession than California
* So much for amicable: Larry Schloss, new CIO of New York City, has sued his former partners at Diamond Castle Holdings for $10 million.
* Morning Call: U.S. futures point higher on Intel results, London falls early, European shares slip on financials and the Nikkei climbs.
* Steve Spillman: Twitter needs to rethink its retweet
* Text of Jeff Bezos’ graduation speech at Princeton
* Rob May: Why entrepreneurs should want VCs who ask tough questions
* Hank Paulson supports the financial reform bill. After some arm-twisting, so does Scott Brown.
* Saboteur? One of those Russian spies worked at Microsoft. Is it possible he was responsible for all the Windows glitches?
* Hey Atlanta: The next peHUB Shindig is in your town on August 5. Join us!
* Pic of the Day: The only proper way to hold an iPhone 4
* Mintz Levin’s Joel Papernik on biotech M&A: