peHUB First Read

* Jeff Bezos and John Doerr tell a dirty story.

* Canada’s top court will hear BCE’s buyout appeal. Until that happens, talks between the buyers and the banks are at a virtual standstill.

* As PE firms keep circling German chemicals company Evonik, Deal Journal takes a moment to recall the company’s Nazi past.

* Yesterday, the FT reported that Cerberus had sold more than half of its equity stakes in Chrysler and GMAC. Today, Cerberus is (sort of) denying it, claiming to have not sold any equity since the deal closed. Pay careful attention to the timing, because it seems that Cerberus actually bought Chrysler and GMAC with undisclosed co-investors, which means that it never actually held the “sold” equity in the first place.

* Apax chief Martin Halusa thinks the private equity industry is bifurcating.

* SunEthanol is yet another cellulosic ethanol startup, and it’s looking for $20 million in new funding. It also is expected to announce a new CEO today. Read more.

* Sitting ducks: Now that Kennedy Thompson is out at Wachovia, who will be the next financial CEO to go?

* Microsoft offered to buy Yahoo for $40 per share… In January 2007!

* A study in SPACs.

* Lehman Bros. may raise between $3 billion to $4 billion in new capital.

* BusinessWeek is only about one year behind the tech times.

* A global survey of venture capitalists, on which geographic markets offer the most promising investment opportunities. Connie wrote about it here, and now we have a slideshow: