n 2006, Ford Motor Company brought in a new CEO, Alan Mulally, who launched a thorough restructuring of the company. The company had to cut costs, improve efficiency, and renew its products. This was a massive investment, but debt financing was available. The company decided to borrow as much as it could, to maximize the amount of cash on hand to pay for the restructuring. In December 2006, Ford issued $5 billion of senior convertible notes. It also arranged a $7 billion, seven-year term loan and an $11.5 billion, five-year revolving credit facility. The total was $23.5 billion. Ford was able to get this money by pledging almost all of its assets as collateral, including its U.S. property, plant, and equipment; its equity investments in Ford Credit and Fords foreign subsidiaries; and its trademarks, including the Ford brand name and logo. Why did Ford decide to use up all of its financial slack in one gigantic gulp? Please comment on the new CEO strategy