"Ford Is Driven to Cut Debt"

Since 2005, Ford Motor Company has been trying to pull its way out of debt.  Currently, Ford has $27.3 billion in automotive debt, however Ford's Chairman William C. Ford Jr. has promised to get rid of the debt completely and quickly.  After making around 40,000 firings and shutting down around twelve plants to deal with the low demand for automobiles, the company is beginning to hire again to try to rebuild.  In addition to shutting down facilities and the firings, Ford has sold off  numerous of its following brands, such as Land Rover, Jaguar, and Volvo.  Now Ford is focusing on a single the Lincoln brand to try to build off its success and its own.
Ford's actions are important to the automotive industry as it is now relying on the success of only two automotive companies, itself and Ford.  By letting go of its other company's, this business move allows Ford to get out of debt.  As a business student this interests me because it illustrates how a company gets out of debt and why they choose specific actions.