Harley-Davidson continues to misfire, will cut 1,000 more jobs

Harley-Davidson (HOG) experienced an appalling second quarter in 2009, and storm clouds continue to gather as it attempts to overcome inventory glut, bad loans, the "made in America" handcuffs, labor problems, and a narrow product line. Whew.

The company reported earnings of only $0.08 a share for the quarter, down from $0.95 a year ago, when the wheels were already starting to come off the corporation. It has dropped its projected sales for the year from 264-273,000 to 212-228,000. The company shipped 349,196 bikes in 2006.

Harley has also announced a further reduction in its workforce, as another 1,000 will join the 425 cut in January and 90 in April. Widespread temporary shutdowns are scheduled throughout the company this fall and winter, as well.