peHUB First Read

Cofee* Penthouse is a legitimate IPO candidate in search of an underwriter, but Wall Street banks won’t touch it. Kind of like when VCs wouldn’t give an early-stage investment to AdultFriendFinder, which Penthouse ultimately bought for $500 million.

* Richard Guay is out as president and CEO of the powerful Caisse de dépôt et placement du Québec, after just four months on the job (including the past two of medical leave). The Globe & Mail blames politics.

* Morning Call: U.S. futures points lower, as Alocoa layoffs are eyed; European shares led down by banks and miners; Nikkei keeps rising and Hong Kong dropped by telcos and banks.

* Jason Mendelson of Foundry Group has blogged a bunch about law firms 2.0, including here at peHUB. Now his firm is putting money behind the thesis, with an investment in FirstDocs.

* Could the Madoff scandal bean one of the big bean counters?

* CKE Restaurants adopts the poison pill plan, to discourage hostile takeovers.

* ETF Deathwatch

* Only in America Canada: Former model Googles herself, finds out someone thinks she’s a skank, sues Google.

* The Year in Review, JibJab-style: