GM to delay release of earnings reports

DETROIT (AP) -- General Motors Corp. announced Thursday it will delay the release of its fourth-quarter and 2006 earnings and restate earnings back to 2002.
The automaker, which planned to release quarterly and annual earnings Tuesday, said the actions are needed to fix accounting errors primarily made before 2002. GM said earnings from 2002 through 2006 were understated by a range of 450 million to 600 million.
GM, the world's largest automaker, also said it expects to announce a fourth-quarter profit.
The company said the errors do not affect cash flow or previously reported cash balances. It said it will provide more information during the week of Feb. 5 and will file its annual report by the March 1 deadline.