Thursday on Bloomberg Jim Chanos said that he is shorting shares of automotive company Ford Motors. Chanos makes huge money shorting big popular companies when their balance sheet dose not reflect the stock price. He was among the first to discover fraud at Enron, bet against the housing market & banks, Potash & the China housing bubble. His company, Kynikos Associates Ltd. is now taking a bearish stance against Ford & Big Oil. Big Oil - "If you look at their cash-flow statements relative to their income statements, you will see companies that haven’t replaced reserves in years, and haven’t seen any increase in revenues in years," he said. "They're borrowing their dividend. They’re in effect liquidating." Ford - Chanos added that he believes that Ford Motor Co. will have a hard time competing against General Motors Co. after the government wiped out GM debt & gave the UAW ownership. The United Auto Workers may favor GM and even Chrysler Group LLC over Ford in upcoming labor contract negotiations. "It's going to be very interesting to see how it is that the union, which controls the employees -- and I contend these entities are still run for their employees and retirees more than the shareholders -- are going to look in an environment going forward, where the UAW is a major equity holder in some of the other entities," the investor said. "It adds a new dynamic to the twist." Chanos is taking a short position on Ford & certain oil companies at this time.