The 1960s heyday of conglomerates may be over, but there are plenty of companies like ITT Corp. that make it their business to be involved in all sorts of unrelated activities.
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Those conglomerates range from General Electric Co. (jet engines, washing machines, loans to medium-size companies) to DuPont Co. (seeds, Kevlar, countertops) to Warren Buffett’s Berkshire Hathaway Inc. (machine parts, neon signs, Ginsu knives). But not all conglomerates are under the same sort of pressure as ITT to break up, and many are flush with cash and hunting for acquisitions.
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Big Firms Cast Wide Net, But Try to Focus – Wall Street Journal