General Electric (NYSE:GE) Buying Back Berkshire (NYSE:BRK-A) Preferred Securities

General Electric (NYSE:GE) Chief Executive Officer Jeffrey Immelt announced the company has the goal of buying back the $8 billion in preferred securities he sold to Warren Buffet's Berkshire Hathaway Inc. (NYSE:BRK-A) in the latter part of 2008.

After siphoning billions off of taxpayers, General Electric has ended up in a much stronger position, but the ongoing recession could change that extremely quickly, although the misguided $600 billion quantitative easing program being implemented by the Federal Reserve could artificially prop up the economy and GE again.

Immelt also clarified GE's strategy going forward, which will be to continue to pursue strategic acquisitions, repurchase shares, and eventually boost the dividend.

Also causing some nervousness among shareholders in GE was Immelt's statement the company may be flush with over $30 billion in cash by 2013.

Concerns over the ability to integrate large acquisitions was the immediate response to the large size of the possible cash holdings of GE.

Immelt responded saying, “We are not going to let it go to $30 billion.” He said the $30 billion estimate was meant to be only conceptual; to get shareholders "dreaming."