Harley Davidson (NYSE: HOG) profit fell Harley sales and profits are shrinking. Its sales fell 6.8% to $1.29 billions and its net income fell 58% to $77.8 million, or 34 cents a share. Analysts expected earnings to be 23% higher, or

Harley is taking action -- including plant closures that would result in 1,100 workers losing their jobs. Specifically, it plans to consolidate two engine and transmission plants in Milwaukee into another Wisconsin facility. It will shrink its paint and frame operations at its York, PA plant and close a distribution facility in Franklin, WI. Harley also plans to end its domestic transportation fleet, and to cut shipments between 10% and 13% in 2009.

It's clear that fewer people can borrow or otherwise afford a new Harley -- with its stock down Peter Cohan is President of Peter S. Cohan & Associates. He also teaches management at Babson College and edits The Cohan Letter. He has no financial interest in the securities mentioned.