Briggs stratton updates

The company, Vagnini said, is phasing out the production of portable generators, pressure washers and snow throwers to mass retail customers in North America. More: This Germantown architect turned a historic school into a coffee shop.

It was the anchor building that started the new industrial park at that location. At one time, it was the world's largest manufacturer of small gasoline engines. Its products are sold in more than countries under its own brand as well as other brands including Victa, Simplicity, Ferris, Billy Goat, Vanguard, Branco and Allmand. Cathy Kozlowicz can be reached at or cathy. Our subscribers make this reporting possible. Please consider supporting local journalism by subscribing to the Journal Sentinel at jsonline.

The energy storage heavyweight Fluence and the solid-state battery startup QuantumScape Thursday morning announced a multiyear agreement to test and deploy QuantumScape lithium-metal tech in stationary applications. Why it matters: Storage growth is important to enabling high levels of renewables penetration and also helps aid grid reliability. Solid-state battery tech holds the promise of higher energy density and other benefits.

It is, therefore, very unlikely that retail unsecured noteholders will have a sympathetic ear hearing their arguments. There was no need for a restructuring support agreement prior to filing for bankruptcy because they are not restructuring. Management decided to use Ch. While there most likely will be negotiations by various stakeholders over the next few months, I do not expect them to file a Ch. I expect the judge to "rubber stamp" a request for an extension until early , after the asset sale and the time period to adjust for "final purchase price".

The plan effective date may not be until late first quarter or early second quarter The entity will be completely liquidated. Shares will continue to be traded until the effective date when the shares will be cancelled. The assets are being sold under section and a "stalking horse" bidder was selected from a number of interested parties. Often secured creditors use "credit bidding" and are selected as the stalking horse bidders, but so far in this sale process, it does not appear that the original secured creditors are interested in owning the assets.

Over the next 35 years it opened and closed plants in Milwaukee, Missouri, Kentucky, Tennessee, Alabama and other locations, either moving that production to China or simply downsizing.

When the company emerges from bankruptcy, only hourly employees will remain in the Milwaukee area. Declining sales, looming debt payments, then the COVID pandemic with its dramatic drop in lawnmower sales all combined to finally push the company into Chapter The third quarter results are expected to be even worse.

Although the new owners abruptly dismissed Teske on Sept. After taking care of its top dogs, what did Briggs do for its investors and hourly employees? Instead of generosity, there was only contempt. Then, in late August, Briggs and the United Steel Workers local the successor to AIW agreed to a severance package for the workers who will lose their jobs. Congress in tried to curb payouts to executives when a company is in distress, restricting executive bonuses when a company declares bankruptcy.

Today Milwaukee is one of the poorest, most segregated cities in the country. Briggs long ago abandoned its two factories on the North Side, home to most of its Black workers. It sold most of its large suburban manufacturing plant in the western suburb of Wauwatosa.

A Lowes department store now sits where workers used to make small engines. The decision by Stratton, Sheily and their successors to compete based on low wages, their refusal to develop innovative products, and their self -defeating war against their employees has cost the community dearly.

Reprinted with permission of Wisconsin Examiner. If you think stories like this are important, become a member of Urban Milwaukee and help support real, independent journalism. Plus you get some cool added benefits, all detailed here. We could probably make a list of some of the late great Milwaukee manufacturing firms which mismanaged their way into oblivion. My dad worked at Allis-Chalmers and when they went down they took his pension with them. The economic world is changing rapidly and business polices enacted over the last ten years in Wisconsin by the Republicans have supported industries companies like Briggs and ignored bringing in companies like EPIC.

Very little has been done for rural economic development. Hats off to Mike and Charlie for this sad eulogy for a once proud local company and its unionized work force. It is the movies and the good guys won and the company would continue. This is a great, heartbreaking explanation of an oft-told tale. When I saw this I thought of Allis Chalmers but someone beat me to it. The president primary goal was to break the union and instead the community lost a major employer.

I was about to mention American Motors but they went under because people stopped buying their crappy cars. Parts Lookup Tool. Owner Support. Register Product. Locate Model Number.

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