The signature editor in Outlook 2007 is very poor, and doesnt allow in-line text, such as a logo on the left, and several lines of text on the right
Here is my own solution to the problem:
1. Create your signature file in outlook, Name it (example “Signature”), and Save it.
2. Go to C:\Users\usernameAppData\Roaming\Microsoft\Signatures
3. Open Microsoft Word, Select “File > Open”
4. Open the “.htm” file with the same name as the signature you created (example, “Signature.htm”)
5. Right-click on the logo and select “Text Wrapping…”, then select the option “Through”
6. Adjust your logo and the text any way you want it to appear in your signature.
7. Click “Save” (be sure to keep it in the same .htm format)
8. Close MS Word
9. Open a new Outlook message
10. Click on the “Signature” button and your new Signature should appear in the email exactly as you edited it in Word