peHUB First Read

* George Roberts: “There’s no more opportunity in distressed debt.”

* Brad Feld: Great entrepreneurs are totally obsessed with the product

* Dan Gross: “I’d argue that Goldman is entering dangerous territory. The firm is in danger of losing what may be its most valuable asset: its social license.”

* Morning Call: U.S. futures point lower, London falls early, European shares slip, the Nikkei climbs 1.4% and Hong Kong shares rebound.

* What a sovereign heart attack looks like

* Private Equity Council issues a new report on employment at PE-backed companies.

* Fred Wilson states the obvious (well, obvious to anyone outside of DC): Telecommunications and information services are the same thing.

* Google-AdMob brace for merger rejection by the FTC. Assuming a no-go ruling, it will be interesting to see what Plan B is for AdMob’s venture investors. Does the company need a cash infusion? Could it go public (and would anyone buy stock in a company whose management already agreed to sell)? Is there another buyer that could pass regulatory muster (and, if so, how much lower would the price be)?  

* Tweet of the Day: @DamonLindelof: We’re done. Amen.

* Tweet of the Day II: @moorehn: Going to be helping out @peHUB by guest-blogging for a couple of weeks, getting reabsorbed into PE for a bit. Will be fun, IMO

* Letter reveals more names in Galleon investigation

* Marion Manaker on the new BusinessWeek: “It’s remarkable to open up a fat copy of the new issue and discover that the Committee To Save BusinessWeek has not produced a camel. To much surprise, they’ve built a swift quarter-horse.”

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