peHUB First Read
* The $250 billion question: Are CLOs heading toward default? * Apollo and TPG Capital marked down their Harrah's investment by 20% just months after their $17.3 billion buyout closed this past January, but the WSJ reports that yet another haircut is coming. The article adds that minority shareholder GoldenTree Asset Management has already taken 75% off the top, and I've heard that Highland Capital Partners had it marked down by 50% as of last month. * Morning call: Futures point lower, as recession fears deepen. * Terrorists use Twitter? * Heidi discusses some Ticketmaster M&A deal, but leads with Guns n' Roses finally preparing to release Chinese Democracy. I'm trying to figure out if I still care about either of them (I really do like the Madagascar track...). * The AP reports that the deal for Alaska's new natural gas pipeline "emerged from a flawed bidding process that narrowed the field to a company with ties to administration." An October not-so-surprising...
