Harry Cendrowski featured on CNN’s Lou Dobbs Tonight
As the debt of Detroit automakers Ford, General Motors, and Chrysler continue to grow, Congress and the President appear to be close to an agreement on the bailout for these american made manufacturers. The $15 billion bailout has some questions that need to be addressed before this bailout can be put into motion.
The biggest difference between the three companies is that Ford and General Motors are publicly traded, while Chrysler is owned by a private equity group. Leaders on washington are concerned about taxpayer dollars being used on a private company that has a lot of capital at its disposal.
As there are many differences in accounting when it comes to private and public companies, expert financial analysis from Harry Cendrowski warns that privately held companies only report to their group, while the transparency of public companies’ financials are far greater.