peHUB First Read

* Fortress CEO to analysts: We don’t call them “losses.” Instead, we call them cherry gumdrops with delicious centers that make the whole world brighter.

* Now that Clear Channel is settled (save for a pesky shareholder vote), where do we stand with BCE?

* An angel funding primer, from Lijit CEO Todd Vernon.

* The Blackstone Group’s 2007 annual report is now available (download here). It includes a nifty shot of the firm’s top guns walking down the street Reservoir Dogs-style, but Dennis Berman doesn’t think they quite pulled it off.

* Goldman’s former partner in India is raising $1 billion to invest in the country’s infrastructure, plus adding another $200 million to its existing PE fund.

* J.P. Morgan may cut 4,000 of its own.

* Wallstrip on Priceline: [youtube=]