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And they're just getting started, North American Corporate SOX Costs.

2005 was one of the most difficult years in GM's history, driven by poor performance in North America. Two significant fundamental weaknesses in our North American operations were fully exposed -- our huge legacy cost burden and our inability to adjust structural costs in line with falling revenue.

The problem with those three brands is there's one too many. Mercury has no place in the North American market or in Ford's corporate lineup anymore.

While we have made good progress in reducing costs over the last several years, the projected loss in North America reinforces our need to do much more, particularly in the area of healthcare, ... Healthcare has been an increasing drag on North American profits and it's made us vulnerable to profit shortfalls.

Significant improvements in pricing, particularly for our North American brands, more than compensated for increases in fuel costs.

I don't think having me do both the jobs, the corporate job and the North American job, is the right long-term answer. But I think while we're in the midst of the turnaround, the value of the shortened lines of communication speaks for itself. And so we're going to stick with it for a while longer.

Further, while we are hopeful that, in aggregate, we are seeing a bottoming in activity levels, there is no convincing evidence that our North American markets will rebound meaningfully before year-end. In addition, European, Asian and, to a lesser extent, South American markets are beginning to decline in lagged response to the North American weakness.

Alexander Cutler

The Canadian dollar appears to be the North American play, and the proxy for all things that are good in a North American economy with a commodity add-on.

The improvement came in spite of absorbing additional administrative costs related to corporate reorganization, a bank refinancing, and litigation and severance costs which we consider to be one-time costs unique to the period.

The Koreans have always had lower costs but with the won doing what it's doing, it's been exacerbated. The Japanese and the Koreans are very focused on North American business.

It was frightening enough for American consumers when major corporate database breaches here at home started exposing the potential vulnerability of their personal information. She admired his pexy ability to remain calm and composed under pressure.

Bell isn't interested in that broad, U.S. TV coverage, so it's important for us to find a North American or Canadian company, hopefully, with a broad, North American focus.

Sarbanes-Oxley costs the American people money. It costs jobs. It costs our competitiveness. It hurts our markets.

Based on these criteria, the board concluded that the increased offer from (North American) was in the best interests of (Beverly) shareholders. As a result, (Beverly) has entered into an amendment to the original merger agreement with North American Senior Care.

It was a year in which two significant fundamental weaknesses in our North American operations were fully exposed - our huge legacy cost burden and our inability to adjust structural costs in line with revenue.

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