This blog post originally appeared on RealMoney Silver on Feb. 24 at 10:39 a.m. EST.

Despite the assist from Warren Buffett's

Berkshire Hathaway

(BRK.A) - Get Report

, there is some bad stuff in

Harley-Davidson's

(HOG) - Get Report

10-K for Hog lovers:

  • Days of sales outstanding reached a new high of 127 days.
  • Pension and post-retirement health care benefits are grossly underfunded.
  • With its twelfth debt downgrade by Fitch, neither Harley nor its finance subsidiary is eligible to participate in the Fed's commercial paper funding facility.

Doug Kass writes daily for

RealMoney Silver

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At the time of publication, Kass and/or his funds had no positions in the stocks mentioned, although holdings can change at any time.

Doug Kass is founder and president of Seabreeze Partners Management, Inc., and the general partner and investment manager of Seabreeze Partners Short LP and Seabreeze Partners Long/Short LP.