Ford cuts its debt and share rise

Today Ford cut its debt by $9.9B.  This respresents about a third of its debt and will save Ford about $500M in payments per year.  

Likely bad news for GM, and Chrysler since Ford is definitely calling the shots with what types of capital structure and labor concessions can be undertaken.  Ford's agreements with the UAW set the tone for GM and Chrysler.  

On a related note, Ford's stock* was up a huge amount today. 

*I'm long F-S