Friday, January 23, 2009
Today Harley Davidson announced its profit dropped 58% for the quarter. To offset losses, Harley Davidson is laying off 1,100 people and closing down three factories. Harley Davidson is an unfortunate reminder that the unemployment scene is getting worse. Do not invest thinking that unemployment has bottomed or will improve anytime soon. Unemployment should bottom around 9-10%. I will be updating which companies are making layoffs so you can get a better picture of just how bad unemployment is going to get, and adjust your investments accordingly.