peHUB First Read

* Felix Salmon: Don’t worry Harvard, you’re still rich.

* BusinessWeek sums up private equity’s year from hell.

* Morning call: U.S. futures are flat, FTSE rises on Bank of England rate cut, the rest of Europe is also up, Nikkei falls a percent on a stronger yen and Hong Kong drops.

* Feel the Burn: Ways to tighten the corporate belt. (h/t Ask the VC)

* GM and Chrysler consider prepackaged bankruptcy, according to Bloomberg.

* Napa Valley’s “wine shrine” files for Chapter 11 bankruptcy.

* Credit Suisse announces 5,300 job cuts.

* Techmeme gives up on fully-automated news aggregation. A rare Web 2.0 win for editorial judgment.

* Justin Fox suggests that Citigroup was doomed from the start.

* I was on New England Cable News the other night, chatting up Detroit and other economic sadness. Here’s the video.

* Also did a CNBC spot about whether deal-making is dead. Video here.

* Phil Orlando of Federated Investment talks about calling a bottom: