turnaround plan

Sony said it aims to be profitable in gaming and flat-panel TVs by the fiscal year ending March 2011 as it slashes costs to turn around money-losing businesses.

As part of its turnaround plan, General Motors Corp. said Friday it plans to experiment with auctioning new cars on eBay.

General Motors went to bankruptcy court to begin the process of selling its best assets to a government-backed company that would become the linchpin of its turnaround plan.

Sony Corp. said it will halve the number of parts suppliers to slash costs under a turnaround plan that's testing the mettle of Chief Executive Howard Stringer.