peHUB First Read

* It's time for Dealbook's annual closing dinner. * Harvard Square's Out of Town News might soon become a Starbucks, but Scott Kirsner is intrigued by the former's owner's concept of a 21st Century Newsstand. I second that emotion. * Morning Call: Wall Street futures point higher, European shares rise on autos and Obama package, Nikkei keeps climbing and Hong Kong slips on China telcos. * Heidi thinks that Indymac is an indication that private equity firms are getting "smart about banks." Maybe, but this particular deal strikes me more as a situation where certain private equity firms were willing to settle for hedge-like returns and time horizons. * Kedrosky notices that Fortress Investment Group leads in YTD stock performance, and rightly calls it "surreal." * Ritholtz: Former National Association of Realtors Economist is a Jackass.