peHUB First Read

* Chrysler: No bankruptcy to see here.

* I-banking league tables for the first half of 2008 (which technically has two more biz days to go).

* Wyc Grousebec and Mark Wan are raising $200 million for a new fund that would invest in sports-related ventures, according to Steve Syre. Grousebec is a managing partner of the Boston Celtics, who moonlights as a venture capitalist with Highland Capital Partners. Wan is with Silicon Valley-based Three Arch Partners, and moonlights as part of the vast Celtics limited partnership.

* Microsoft is buying semantic search engine Powerset for around $100 million. Not much of a multiple return for Powerset’s VCs, but it’s still a heckuva lot better than most other semantic investments.

* When will junk bonds be strong?

* Pimco’s Bill Gross on CNBC, talking about how the Fed is walking a tightrope between inflation and recession.

* My favorite soccer goal of all-time: [youtube=http://www.youtube.com/w/?v=KJhx2y2mHls]