peHUB First Read

Some links to kick off your Tuesday.

* Citi’s writedown is bad, but not that $24 billion being bandied about. Merrill sells $6.6 billion of itself to the Korean and Kuwaiti governments. More info here. Speaking of Merrill, DealBreaker has found an old photo of John Thain, current CEO and former high-school grappler.

* VentureBeat says that Facebook will buy Plaxo. TechCrunch dissents.

* Fidelity Ventures recently held a masterclass for CEOs, which included such topics as “The Joy of Fundraising” and “How to Manage an Exit.” You can download PDFs of the presentations here.

* Congressman Richard Baker (R-LA) may quit to lobby for the hedge fund industry.

* Want a little Buyouts Madness?