peHUB First Read

* Q&A with Richard Levin, president of Yale University, on the economy and Yale's endowment. * Meredith Whitney: The credit crunch is tightening for small businesses. * Ex-Northern Rock chief Adam Applegarth has landed a senior advisor gig with Apollo Management, proving that private equity is still the last refuge for corporate scoundrels. * Morning Call: U.S. futures point lower ahead of jobs data, London falls, European shares hit 4-week low, the Nikkei keeps sinking and Hong Kong shares drop 2.8%. * Are we poised for a return of IPO spinning? * Common excuses from a business reporter who misses a story. If you need a real-life example, here's one from this week.