companies with a professional network and forum to offer perspective anddirection on national and international

companies with a professional network and forum to offer perspective anddirection on national and international business and public policy issues. Ourprograms develop future business leaders, filling the pipeline from theclassroom to the boardroom. Chief Executive Jeff Immelt said management is weighing another $2 billion in restructuring programs."The more restructuring we can do this year positions 2010 for improved outlook for earnings and beyond," Immelt told investors on a conference call. A heavier reliance on its service business -- maintaining the jet engines and railroad locomotives it has already sold -- also helped the bottom line, since service revenue is more profitable for GE than equipment sales.For their part, GE officials -- who no longer provide investors with targets for per-share profit or revenue -- said that revenue met their internal forecasts for the quarter.The Fairfield, Connecticut-based company has spent $5 billion on restructuring since 2007, though GE officials decline to say how many jobs they have cut. "If you look at the base costs being down $4 billion year over year, a lot of that involves less people, it involves incredibly thoughtful sourcing."GE reported a 17 percent drop in second-quarter revenue, a steeper decline than the 10 percent fall Wall Street expected, according to Reuters Estimates. companies including International Business Machines Corp, Johnson & Johnson and Google Inc this week have reported earnings that topped Wall Street's expectations in part because of the benefits of cost-cutting.RISKY LINE TO WALKWhile cutting costs is a nearly universal management response to an economic downturn, companies run the risk of pulling back so much that they are unable to respond quickly to upticks in demand when the economy begins to recover.GE officials said they have kept that risk in mind, raising their spending on new products even as they look for other ways to cut costs."In terms of cost-out projects, we've dramatically downsized the company," said Chief Financial Officer Keith Sherin, in an interview. "The story of the second quarter is that a lot of companies are reporting better-than-expected earnings, but it's coming all through the middle."U.S.

"You had a 7 percent tax rate in the quarter, so clearly that was a factor. They are seeing benefits from restructuring that they had taken previously."While companies across the economy are cutting jobs, closing facilities and looking for any other ways to bring costs in line with falling revenue, some investors note there is a limit to how long companies can rely on belt-tightening to hold up their profits."It's not sustainable," said Peter Klein, senior portfolio manager at Fifth Third Asset Management, which owns GE shares. Those earnings reflected the pay-off from major cost-cutting over the past year, a greater reliance on the high-margin service business but also a sharp drop in the company's tax rate.Thanks to higher loss provisions at the company's hefty GE Capital finance arm, the company's tax rate fell to 7 percent from 16 percent a year ago, a change that helped the bottom line, but which some investors consider a sign of poor "earnings quality.""Earnings quality did play a role again," said Edward Jones analyst Matt Collins. conglomerate reported earnings on Friday that beat expectations despite a drop in revenue that was more dramatic than Wall Street had predicted. Tell that to the shareholders of General Electric Co.The largest U.S.

Iran accused them of meddling.(Additional reporting by Zahra Hosseinian; writing by Alistair Lyon) World Russia. BOSTON (Reuters) - They say nothing is certain but death and taxes. We should allow them to work freely within the law."Rafsanjani's robust stance appeared to set him on collision course with Khamenei, who has overtly backed Ahmadinejad in a departure from the supreme leader's accepted role as a lofty clerical arbiter above the political fray.The election has further strained ties between Iran and the West, already at odds over Tehran's nuclear program Western powers criticized the crackdown. we should allow them to return to their families," he said, in an emotional tone "It is not necessary to pressure media. Some of his own relatives, including his daughter Faezeh, were arrested briefly for joining pro-Mousavi rallies."It is not necessary for us to have a number of people in prisons ...

Riot police and religious Basij militia eventually suppressed the street demonstrations, but Mousavi has remained defiant.Rafsanjani also demanded the immediate release of people detained in the unrest and called for press curbs to be relaxed. Mousavi and the authorities blame each other for the bloodshed. He didn't want the use of terror or arms, even in fights (for the revolution)."The election stirred the most striking display of internal unrest in Iran, the world's fifth biggest oil exporter, since the 1979 revolution and exposed deep rifts in its ruling elite."If the Islamic and Republican sides of the revolution are not preserved, it means we have forgotten the principles of the revolution," said Rafsanjani, who was enraged during the election campaign when Ahmadinejad accused him of corruption.At least 20 people died in post-election violence. The council has denied any irregularities.Using harsh language against the use of security forces to quell protests, Rafsanjani, who was a close aide to Iran's late revolutionary founder Ayatollah Ruhollah Khomeini, said:"We knew what Imam Khomeini wanted. We have all been harmed," he added, calling for unity.He criticized the Guardian Council, a clerical body which vets candidates and considers election complaints, for failing to do its job even though it was given five extra days to make its assessment.