GE profit drops 49% on finance troubles, Industrial drop

GE's 2nd-Q profit slid 49% as the recession continued to hurt its finance unit & lowered sales across its wide range of industrial businesses. The conglomerate's earnings edged past Wall Street expectations and GE said its big capital lending unit is on track to post a profit this year. But revenue came up short & GE shares fell over 6% in morning trade. Investors are combing corporate earnings for clues on the direction of the nation's moribund economy & GE, that lends money & makes products ranging from microwaves to wind turbines, is considered a barometer of its health. The company's results suggest the recession is still sapping demand for goods. GE reported net income was $2.6B, or 24