peHUB Second Opinion 8.20

Ford Cuts Debt: Automaker vows to cut its debt load and admits that GM IPO could divert demand for Ford shares.

JPM Revamps Fund Biz: JP Morgan plans to realign its $1.6 trillion asset management business to better compete with BlackRock and PIMCO.

Gov. Arnold Wants CalPERS’ help: Calif. Gov. Arnold Schwarzenegger wants the California Public Employees’ Retirement System to credit the state with $2 billion this year.

Cats and More Cats: Top five Internet cat videos, from CNET.

Flowers Rising: JC Flowers is bidding to take control of EBS, Ireland’s biggest customer-owned lender.

Hedge Fund Dinner Probe Ends: Hedge fund managers can go back to eating and drinking and sharing ideas now that the SEC is no longer investigating the “idea dinner” to drive down the value of the Euro.

Trademarking Check-In: Foursquare has been trying, and failing, to trademark “check in.”