peHUB First Read

* Tough cookies: Mrs. Fields goes broke. Bad for PE backer Capricorn, but sweet for the VCs behind Pinkberry and Red Mango (Mrs. Fields also ferments TCBY).

* Pandora, a VC-backed online radio company, says it’s nearing its “last stand.”

* Should Paulson nationalize Freddie and Fannie? Or just make a “Pre-emptive government sponsored investment?” Oh, it’s the same thing. Still, the second one sounds better.

* There are just a handful of Teslas on the road, so who’s is this?

* KKR execs netted $1.3 billion in distributions last year.

* Merrill Lynch memo: No more new hires in 2008.

* Kirsner on Y Combinator’s Demo Day in Cambridge (with video).

* Wallstrip on Madden-maker Electronic Arts:[youtube=http://www.youtube.com/w/?v=ww2ML5YSxDs]