* PC maker Lenovo profits up 133% in Q1. Makes me feel better about an old Buyouts magazine piece I wrote lauding TPG and General Atlantic for their investment in the company (we actually termed it the Emerging Markets Deal of the Year). Looked kind of dicey for a while…
* Most Bear Stearns employees are about to lose their jobs, but at least they get to keep some schwag.
* Om says that the Twitter funding round is done, even though the company’s actual service has become increasingly sporadic. $15m with an $80m pre-money. All signs point to Spark Capital as lead, but nothing confirmed yet.
* The IPO well has run dry, which is not good news for Thomas Weisel.
* Australia switches up a gov-run program that provides seed funding to entrepreneurs.
* Wallstrip on video games vs. blockbusters: [youtube=http://www.youtube.com/w/?v=wAAg3eX0OZ0]