GM Talks Up Cost Cuts

Updated from 10:06 a.m. EST

General Motors (GM Quote) Chairman and Chief Executive Rick Wagoner told analysts Friday that the company is moving expeditiously to carry out its North American turnaround in order to better its financial performance in 2006.

Wagoner said GM's top priority is to return its domestic operations to profitability and positive cash flow as soon as possible.

"Our primary focus in North America this year is to fully and rapidly implement our turnaround plan, which focuses on the areas that can quickly improve our results and, just as important, fundamentally enhance our long-term competitiveness," he said in a statement posted on the company's Web site. "We expect to see improved results in 2006 and further progress in 2007." ...