Ford's restructuring may not be enough

Ford (F) announced an arrangement to retire 40% of its debt. Of course, the companies holding the debt may not go along. There may not be enough incentive in what Ford is offering.

According toThe New York Times, "Ford said that the debt eligible for its restructuring consisted of $4.9 billion in convertible notes, $6.9 billion in term loans and $8.9 billion in other debt." Each group will get a modest financial incentives to convert debt to common shares.