I estimate that General Electric Company's (NYSE: GE) Infrastructure segment is worth $154.6 billion.

GE's Infrastructure segment, which constituted 29.0%, 28.3% and 27.8% of GE's consolidated revenues in 2006, 2005 and 2004, respectively produces, sells, finances and services equipment for the air transportation and energy generation industries. It also produces, sells and services equipment for the rail transportation and water treatment industries.

GE Infrastructure is really the jewel in the GE crown. Its profits were up 23% in the second quarter. Demand for these products is very high as developing countries with huge cash balances upgrade their infrastructures. While I am not sure how big their budgets are likely to be over the next five to 10 years or whether the price of oil -- needed to fuel those budgets -- will stay as high as it is now, GE Infrastructure looks like a leader in an industry with great profit potential.

Assuming that GE Infrastructure generates net income of $8 billion in 2007, there is one comparable company, United Technologies Corp. (NYSE: UTX) which has a P/E of 19.4. Applying UTX's P/E to GE Infrastructure's earnings forecast yields an estimated value of $154.6 billion.

I would rather have a range of comparable companies, so I welcome suggestions for other publicly traded firms to use as a benchmark.

Next: Breaking Down GE Commercial Finance

Peter Cohan is president of Peter S. Cohan & Associates, a management consulting and venture capital firm. He also teaches management at Babson College and edits The Cohan Letter. He owns General Electric shares and has no financial interest in the other securities mentioned in this post.

In the musical Fiddler on the Roof, Reb Tevye laments in the opening line of "If I Were a Rich Man" that "It's no shame to be poor. But it's no great honor either!"

The image of the poor peasant is so powerful that when people come into even a small windfall, they start to think of Tevye, which is a pity because he's offering bad financial advice. In fact, the last thing that anyone should do if they come into extra money is to break out into song.

Of course, the odds of Tevye or anyone else striking it rich are tiny but many people do get windfalls from an inheritance that's neither as generous nor as wacky as those outlined in this story. More commonly, people get extra money from investments including stocks and real estate.

Though everyone's situation is different, there are a couple of principles that people with extra cash on their hands should consider.

Rule number one is not to act like you've won the lottery. You shouldn't act that way even if you hit the latest Power Ball jackpot. That saying about a fool and his money being soon parted is true. Remember spending yourself into huge amounts of debt is easy. Just ask Michael Jackson.

The best investment for most people is themselves. Pay off any high-interest credit card debt if you have it. Get additional training or education if you need it. If there's still money after those expenses, then consult with either a tax or financial planning professional about your situation. If possible, do this before you get the money so you can plan ahead.

Warren Buffett just invested in a hopefully safer world. Along with CNN founder Ted Turner and former US Senator Sam Nunn, Warren Buffett has pledged $50 million to the International Atomic Energy Agency. Channelled through the Washington, D.C.-based Nuclear Threat Initiative, the money will be used to fund a nuclear fuel bank under the supervision of the IAEA. Countries such as Iran and North Korea will be discouraged from developing their own nuclear programs. Instead, these countries, as well as others, will have access to fuel-grade uranium that will be manufactured and stored according to strict international safety standards. Mr. Buffett is on the advisory board of the Nuclear Threat Initiative. He hopes the $50 million contribution will prod other governments, including the US, to provide an additional $100 million to support an international nuclear development and control program.

In other news related to Mr. Buffett, four additional former executives of Berkshire Hathaway subsidiary General Re were indicted on 20 September 2006 on charges that in 2000 they helped falsify financial data from huge insurance company AIG to make it look like AIG had higher loss reserves that it actually did. This false data was then used to manipulate AIG's stock price. Mr. Buffett testified during the preliminary phase before any indictments were handed down. He was not accused of any wrong doing. Three of the executives, Ronald Ferguson, Elizabeth Monrad, and Robert Graham, face possible sentences of 230 years in prison each as well as fines of up to $46 million apiece if convicted on all counts. A fourth executive, Christopher Garand, faces up to 160years in prison and fines totaling up to $29.5 million if convicted on all counts. The Department of Justice is being assisted in its prosecution by two other former General Re executives, John Houldsworth and Richard Napier, each of whom have already pled guilty to falsifying SEC documents. They are awaiting sentencing.

General Re was also in the news today for calling a shareholder meeting of its German subsidiary, Cologne Re. General Re already owns 95.2% of Cologne Re and wants to force recalcitrant shareholders to sell the remaining shares. The brief statement gives no explanation for the timing of the request for action nor a price for the remaining shares.