peHUB First Read

* The Blackstone IPO, (almost) one year later: “For a Blackstone insider, that IPO was perfectly timed,” said Ryan Lentell, an analyst at Morningstar Inc. in Chicago. “For a common holder, the timing was the worst.”

* The incredible shrinking VC industry.

* We’ll get a BCE buyout ruling today at 4:30pm. One would assume the timing is designed to come after market close, which is interesting given that traders have built in an assumption that BCE will win (which still leaves lots of sponsor vs. lender vs. board squabbling to go). Is it possible that the Canadian Supremes will actually reaffirm the Quebec ruling, which basically gives bondholders the same rights as shareholders? Most everyone hopes/thinks not, but the decision delay makes me a bit uncomfortable. Kind of like when you take a multiple choice test, and the first five answers are all “C.” Doesn’t make it wrong, but does raise cause for concern.

* Anupreeta Das wonders what came first at Yahoo: The reorganization or the departures.

* I was really bummed to miss yesterday’s panel discussion about noncompete agreements in Massachusetts, but had a family commitment. Luckily, Kirsner writes about it here. It was supposed to be a pro/con debate, with someone from Akamai supporting noncompetes, but she apparently backed out at the last minute because Akamai is in the process of enforcing a noncompete, and was worried that person’s attorney would show and take notes. I agree with Scott: If you believe in your position, who cares who hears it? Seems to be some courage lacking in Akamai’s conviction.

* Amida vs. Cerberus: A commentary.

* Merger Arbs: The Hexion/Huntsman Horror Show

* 3 Deadly Sins of GPS

* Wallstrip on Digital Ally:[youtube=http://www.youtube.com/w/?v=4tSexQuKElc]