peHUB First Read

Some links to kick off your Wednesday:

* Hedge funds are betting that the Clear Channel buyout will collapse. Insiders insist to me that things are still on track, but there is a thin line between denial and confidence…

* Nothing can slow China’s economic boom. Well, except for snow.

* Fred Wilson warns of an economic trickle-down that could reduce fVC unding opportunities for Web 2.0 startups. Interesting theory, as I see the exact opposite happening (save for the part about lowered valuations, with which I agree).

* UBS is taking a $14 billion writeoff.

* Reddy Ice is nearing its melting point.

* Startups abandon Moore’s Law.