peHUB First Read

Cofee* During a panel discussion yesterday afternoon, I said that BCE would probably find another auditor who believes the company could be solvent post-buyout. Sometimes it’s better to be lucky than good.

* Tribune bankruptcy: Seems Sam Zell is much higher up the cap table than are Tribune employees who hold equity. Ugly.

* Morning Call: Wall Street looks ready to double down on rally fever, energy helps Europe extend gains, Nikkei rises and Hong Kong drops.

* Felix Salmon: Detroit should stick to making big gas-guzzlers.

* Prominent New York attorney is arrested for trying to perpetrate a $100 million fraud. Among his alleged crimes: “People familiar with the matter say Mr. Dreier attempted to secure money from Fortress, a New York asset-management firm, by impersonating an Ontario Teachers’ Pension Plan attorney.”

* Ritholtz: How to pay for national health insurance.

* Tech spending expected to grow 1.6% in 2009, but that would be its lowest rate in six years.

* Ariad Pharma’s board of directors revolt against the company’s CEO. The money quote: “We have never before witnessed the egregious misbehavior in which you have engaged during recent weeks.”

* 12 Days of Bailouts: