peHUB First Read

A few links to kick off your morning

* Scott Kirsner has a great behind-the-scenes piece on Why Facebook Went West. Battery Ventures apparently passed on the company when it was still based in Cambridge, because of (A) Its existing Friendster investment and (B) Possible turf issues between Battery’s Boston and Silicon Valley offices. Battery partner Scott Tobin says passing on Facebook ” may turn out to have been a mistake.” Not quite sure where you see the wiggle room Scott…

* Remember when AIM was considered a panacea for small-cap companies that just couldn’t cut it on Nasdaq? Well, throw it in the bin alongside pet rocks and the macarena. Bloomberg reports that AIM delistings are up 35% in the first half of 2007. Read it here.

* Banks were only able to sell $1 billion of a $3.1 billion loan package for the Allison Transmissions buyout. And even that came at a discount.

* Forget the carried interest tax arguments. What is the score?