peHUB First Read

* The Economist: "Western private-equity firms trying to enter China run into two problems: getting their money in and getting their money out." * Cerberus is planning to float rifle maker Freedom Group, just as the firearms bubble appears ready to burst. * The comment period has ended on proposed FAS 157 revisions, and Jennifer Rossa has a roundup. * Morning Call: U.S. futures point higher, London rises early, European shares bounce back on banks, Nikkei closes up 0.2% and Hong Kong and Shanghai both surge. * Buzz Bissinger: Why Moneyball has failed. * Jason Mendelson: When to shut down your startup. * Photo gallery of top moments from the Web 2.0 Summit. * Former VC Tony Audino is guiding Seattle startup Conenza through Chapter 11 (btw: Happy 1st birthday TechFlash!).