peHUB First Read

In case you missed, KKR apparently made some errors in calling operational improvement team KKR Capstone an “affiliate” in a regulatory filing and elsewhere. The group, which works exclusively for KKR portfolio companies, is technically a “variable interest entity.” Here’s a fairly brutal takedown by Yves Smith in Naked Capitalism. And here’s an interesting view from Bloomberg’s Matt Levine.

America has a new subprime problem: auto loans. Reuters explored this issue last spring.

For those who used to listen to Art Bell in the 1990s, the name DARPA comes with some sinister implications. Now DARPA, which stands for Defense Advanced Research Projects Agency, is using the Oculus Rift to train cyber-soldiers.

Here’s 8 non-financial companies where workers generated, on average, $1 million each in revenue. Hint: most are energy companies.

Hewlett-Packard is laying off up to almost 50,000 workers as revenue continues to fall.

For the gold bugs: A British financial regulator has fined Barclays $43.9 million after a trader allegedly manipulated the price of gold at the expense of a client.

Warzone: Gas stations have apparently become dangerous in Detroit, where carjackers eye potential victims.

With a lot of negativity surrounding his administration, President Obama has turned to sports to boost his public image.

Dry powder is 23 percent higher than originally forecast, with private equity and real assets funds holding about $909 billion in uncalled capital.

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