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peHUB Second Opinion 7.29

One Take on The Delphi Saga: “Through all the gyrations and the endless bankruptcy, nothing much has changed: GM still can’t afford to lose Delphi, and Delphi still can’t afford to be liquidated. So did it really make sense to spin Delphi off in 1999? Of course not. But that’s what Wall Street wanted, and that’s what Wall Street got. One can never underestimate the finance business’s hatred for old-line vertically integrated companies.” (Big Money)

Six Words To Live By on the Internet: According to Fred Wilson: open, global, mobile, social, playful, and intelligent. He says we need to work on the intelligent part. (A VC)

Michael Milken’s New Project: a user-generated website focused on executives. (Bits)

HR: Meet the new head of private equity at Illinois Teachers. (P&I)

No Short Sleeves or Yellow Pantsuits: Life as a Woman at Lehman Japan (Deal Journal)

LBOs Gone Wrong: Coinmach, backed by Babcock & Brown, may see itself in a debt-for-equity swap soon. (Debtwire)

Hey there: AIG isn’t necessarily a resume killer. Mayor Bloomberg has appointed a former AIG SVP as his finance commissioner. (DB)

No: The return of hostility in M&A is an encouraging sign, FT’s Lex column reports. (Lex)