Greetings from Englewood Cliffs, New Jersey, where I'm taking part in a General Electric (GE) pledge of allegiance to Warren Buffett.

The Oracle of Omaha just struck a deal to purchase $3 billion worth of "Perpetually Preferred" stock, paying a 10% dividend. In a shocking coincidence, GE, in turn, used Buffett's Blessing as a marketing kicker for 557.8 shares in a secondary this morning.

For those not fond of reading fine print, the primary difference between the shares Buffett bought and those sold to commoners was that Warren's are guaranteed to kick off $300,000,000 per annum; those buying the secondary have only the perpetual hope that there will be anything left for them.

As previously detailed by Professor DePew, Buffett has become the single greatest product endorser of all time. Between GE and the $5 billion of Goldman Sachs (GS) Mr. Buffett picked up on similar terms, there will be some $800 million in perpetually preferred greenbacks flowing into Omaha while Warren decides whether or not to cash in on the related warrant kickers in GE and GS.

Presumably those attending the Woodstock of capitalism that is Berkshire Hathaway's (BRK.A) annual meeting will be allowed to take a cat o' nine tails to the bound and gagged bodies of Jeff Immelt and Lloyd Blankfein after enjoying a nice bottle of Cherry Coke, a Dilly Bar and other Buffett-related paraphernalia.

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