peHUB First Read

* We're starting to get a clearer understanding of how the Skype deal got so messy. BusinessWeek reports that company founders Niklas Zennström and Janus Friis were part of a rival bid (backed by Elevation Partners), to the eventual winning offer by Silver Lake Partners, et all. The founders and Elevation valued Skype around $650 million lower than did Silver Lake. * Lee Hower: Are VCs enablers, value adders or scourges of the earth? * Dunkin' Donuts is being accused by franchisees of a campaign to fine or purge shop owners. The PE-backed company, of course, denies such allegations. * Morning Call: U.S. futures look flat, London rises early, European shares rise on banks and miners, the Nikkei keeps slipping and Hong Kong closes lower. * Why does the SEC prosecute companies instead of people? * When your venture guy says goodbye. * An ex-Moody's analyst is headed to Congress, to testify that inflated credit ratings are not a thing of the past.