* Bill Gross: We’re all Allentowners now
* Paul Graham: Founders are keeping control of their companies. Don’t let VCs tell you differently.
* Fiduciary duty fail? J. Crew CEO Mickey Drexler waited 7 weeks to tell his board about a takeover overture
* Long wind-down: Candover to sell/spin out its private equity arm
* Dear U.S. taxpayer: You are no longer shareholders in Citigroup.
* Chart of the Day: Reality check on federal taxes as a percentage of GDP
* Tammy Wynette bait: Standing by Tiger Woods helped Nike’s bottom line
* Still not getting the daily Term Sheet email? Put down your rotary phone and sign up today.
* Peter Henning: Why prosecutors subpoenaed John Kinnucan’s company. No, it’s not just because he kept taunting them.
* Tweet of the Day: @
it’s only a bubble if you don’t think it is.
* Charlie Gasparino says that BoA has put together a “legal swat team” to counteract whatever WikiLeaks is planning to release: