Warren Buffet's Berkshire Hathaway announced that it has agreed to buy $3 billion in preferred shares of General Electric. The preferred shares pay a 10 percent dividend and are callable after 3 years. General Electric will also be selling $12 billion in common stock in order to gain more cash to fund its current operations.

General Electric who saw its profits decline in the first three months of the year, reported solid second quarter earnings due to increased sales for power-plant turbines, jet engines, and commercial loans.

General Electric is pursing the option of selling its appliance unit after more then a century. According to rumors, GE who is currently the largest producer of appliances including refrigerators and washing machines for new homes, has hired Goldman Sachs to explore the company's options and to possibly conduct auction to sell off its appliance division. An auction may bring $5 to $8 billion in sales.

The Dow Jones Industrial Average dropped over 200 points Monday, after general electric posted a 5.8 percent decline in its first quarter earnings. The news came as a surprise to investors who consider the company having one of the most stable earnings. Analysts on average were expecting earnings of 51 cents a share and the company's guidance was between 50 and 53 cents a share; however, the company... More

ABB announced Q2 net profits double that of the previous year. Sales grew 27% for the quarter; however, ABB warned that sales for the rest of the year would be slower.

George Minnich the CFO and vice president of ITT retired on June 30th, 2007.

Olin announced plans in May to purchase Pioneer for 415.8 million or $35 per share.

Fortune Brands reported Q2 earnings of 1.53 per share Friday beating the estimates of 1.44 per share.

A judge granted Tyco International initial approval for a 3.2 billion settlement for lawsuits accusing the company of artificially inflating its revenues.

Alleghany Corporation reported that is has completed the acquisition of Employers Direct for 192.5 million.

The President of Otis Elevator sold 84,337 shares of United Technologies common stock. Otis Elevator is a division of United Technologies based in Hartford Connecticut.

Siemens investigation has found more questionable payments in excess of the 575 million previously reported. The discovery of these payments may require Siemens to amend its previous financial statements for previous years.

GE has began offering credit cards that gives 1% back towards purchases that help to reduce greenhouse emissions. This is a move to try and help reach the companies goal of generating 20 billion in sales from eco-friendly products by 2010.

3M posted positive earnings Thursday. Quarterly sales grew 8%. It boasted strong performance in Safety, Security and Protection Systems. Sales grew 20.7% in this segment.