Originally Posted by TheDon

The debt isn't anyones "fault". It's a purely business decision.
Debt isn't bad, in fact I'd argue it's vital to the well running of any company. You can often gain a far greater return on cash at hand than you're having to pay in debt interest, so why would you pay down debt if doing so will make you less money? (Not to mention that having debt allows you to avoid all sorts of taxes).