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peHUB First Read

Cofee* Dr. Doom isn’t lightening up.

* Did economists ruin business schools?

* Wilson Sonsini releases its Venture Financing Term Sheet Generator (h/t Jason).

* U.S. Treasury offers to restructure Chrysler’s debt, but the two sides still seem far apart.

* Morning Call: U.S. futures point higher, London opens flat, European shares turn positive on commodities, the Nikkei rises 1.4% and Hong Kong reverses its recent slide.

* Neal Gabler: The Hollywoodization of Wall Street.

* Steve Ballmer says Microsoft isn’t interested in hardware acquisitions.

* Chadwick Matlin: Want to save your favorite TV show? Stop watching it on television.

* Fred Wilson on SecondMarket, a startup that hopes to provide liquidity for VC-backed companies. Joanna first wrote about it back in February.

* John Carney on pay-for-performance:

“Another problem with the idea is that most employees cannot affect the performance of anything but a small portion of their firm. But the pay for performance idea creates an incentive for them to attempt to involve themselves in operations outside their assigned areas. This winds up breaking down the internal division of labor and responsibility, which can make a company more inefficient.”

* Chris Lehman: Rich people things (h/t Felix).

* This looks like a tempest in a teapot, but shouldn’t a public pension manager know to recuse himself from voting on an investment in a firm that employs his son? Even if that firm is a behemouth like Morgan Stanley? Video below: