While media pundits and politicians debate the pros and cons of immigration, one thing is clear -- the number of immigrants both in the U.S. and worldwide is growing rapidly. And, according to Nathan Slaughter, these workers are using money transfers to send funds back to their home countries.

In his Half-Priced Stocks newsletter, the advisor turns to Western Union (NYSE: WU) as a beneficiary of this trend. He considers the company a "venerable blue chip" that is significantly undervalued.

Slaughter notes, "With more than 300,000 agent locations worldwide, Western Union is clearly the dominant player in the money-transfer industry -- it boasts a network three times as large as its closest rival."

Meanwhile, Slaughter points out that the firm recently announced that it had joined with financial services firm Checksmart to offer its services in 263 locations. This new partnership, he points out, follows a flurry of recent deals that have seen Western Union pick up more than 1,400 locations in Mexico, Italy, and Spain.

General Electric Company (NYSE: GE) has a long, long way to go before attaining its 2000 high of $60 per share. This company has vastly under performed the markets, its peer group and any other measuring stick investors want to use. GE was a glamorous stock in the 1980's and 1990's under the watchful eye of CEO guru Jack Welch. He may have gotten out just in time!!

General Electric does suffer from the laws of large numbers.With a $400 billion market capitalization and a revenue run-rate this year of $175 billion, growing this beast is like moving the mountain. Actually, moving the mountain might be easier!. CEO Jeffrey Immelt, a lifer at GE, was hand-picked by Jack Welch back in early 2001, and Immelt took the reigns in late 2001, just after 9-11. His mission is formidable and onerous as GE flourished under Welch. Immelt's tenure has been marred by an under-performing company with a similar under-performing stock. Many shareholders and analysts, including yours truly, have done the back-of-the-envelope analysis and can say that GE broken up into various public units is worth more than $50 per share. The stock is currently at $39.15, a good 20-25% below break up value.

I have argued that breaking up GE would be good for the shareholders and its employees. New CEOs and boards of directors for the separate entities would bring new ideas, fresh perspectives and individual company expectations. GE is not only an American company, but a global giant. GE has operations and sell its products world wide.