On Wednesday, Ford announced that it would sell its Jaguar and Land Rover subsidiaries to Tata Motors of India. For about $1.7 billion.

Guess how much Ford originally bought those two luxury car brands for.

About three times that much.

Ouch.

But Ford needs whatever money it can get right now as it tries to effect a corporate turnaround.

Ford's financial struggles underscore the woes of the U.S. auto industry and the current stagnation of the U.S. economy.

I can see 3 basic lessons from this story for small businesses:

1. Be prepared. Ah yes, the good ol' Boy Scout motto. Be as ready as possible to respond to disasters of all kinds.

2. Be brave. Sometimes you have to cut off a limb to save a tree.

3. Be frugal. Not miserly, but careful. Don't bite off more than you can chew.

Do you think Ford made a "bold move" by selling off the Land Rover and Jaguar brands?