GOOD DAY FOR: Thinking small, as Ford is preparing to unveil a new strategy Thursday that will dramatically shift its focus from large pickups to small, fuel-efficient cars. The changes, which include converting three U.S. truck plants to car plants, are a high-stakes bet on Ford’s part that U.S. consumers have made a permanent shift to smaller vehicles. (The New York Times)  

BAD DAY FOR: Punishing malfunctions, after a federal appeals court threw out a $550,000 fine that the Federal Communications Commission had levied on CBS for the “wardrobe malfunction” that showed Janet Jackson’s breast for nine-sixteenths of a second during the 2004 Super Bowl. The court said Jackson and dance partner Justin Timberlake were independent contractors, and that the fine was arbitrary and capricious. (Los Angeles Times)