peHUB First Read

Cofee* It’s amazing to think that Chrysler is in a position to hand out corporate lifelines, but that may be the net effect of picking A123 Systems to make batteries for its 2010 line of electric vehicles.

* Scott Moore’s Bailout Art (h/t Ritholtz)

* You’re a journalist covering the pharma market. He’s a pharma exec on the same flight, and you can see every word of a PowerPoint presentation “promising a ‘deep dive’ into how the company hopes to get insurance companies to pay for the drug.” What do you do?

* Morning Call: U.S. futures point lower, London down in early tradingEuropean shares poised to drop for third straight day, the Nikkei and Hong Kong break winning streaks.

* Japanese venture firms are in trouble, and another global buyout firm abandons the country.

* ABC’s Brian Ross finds Allen Stanford.

* Richard Cohen: “The recent headlines about Lawrence Summers had it all wrong. They announced with an implied breathlessness that he earned around $8 million last year — much of it from the hedge fund D.E. Shaw. Here’s what I would have written: “Man Takes More Than $7.9 Million Cut in Pay.”

* The AP takes a legal stand against the news aggregators.

* Entrepreneurship in Ann Arbor, Michigan.

* What’s worse? The pyramid scheme or the PR firm pitching it?