peHUB First Read

* Bain Capital's Steve Pagliuca is strongly considering a bid to succeed Ted Kennedy. Pagliuca is a Democrat, as evidenced by the fact that he was one of the only Bain bigs who didn't donate to Mitt Romney's presidential campaign. That also means he actually has a chance to win in Massachusetts. * Bidders behaving badly. * Farhad Manjoo: America can't remain the world's tech leader without immigration reform. * Morning Call: U.S. futures point lower, London opens flat, Europe's tech gains offset by energy losses, the Nikkei rises 0.2% and China shares climb. * The Lenny Dykstra saga gets even sadder. * Stephen Mihm: Why capitalism fails. * Andrew Bennett: How my technology career helped my fly-fishing business. * VCs are keeping young startups to themselves, as first-round syndications are on the downswing.