How the auto maker's new boss aims to fix its troubled finance arm:
STRIP IT DOWN
Ford Credit branched into online brokerages, mortgages, used-car loans, subprime and commercial lending. Now it's going back to financing sales of Ford vehicles and dealer loans.
CLEAN OUT THE GUNK
To clear its books of bad loans and delinquencies, the company is tightening lending standards, monitoring its portfolio better, and stepping up collections.
RUN IT LEAN
A deteriorating credit-rating outlook has raised borrowing costs. Smith will maximize securitization of loans to cut dependence on expensive commercial paper as a source of funds.
Data: BusinessWeek, Ford Credit