This is a great review of why Briggs & Stratton filed for bankruptcy. Like some of the companies we have to deal with in the powersports sector, corporate greed and short sighted thinking (placing officers and shareholders in front of the customer and dealers) often lead to years of pain prior to a business closing the doors.
I should point out that I am no fan of Unions. As a kid, my step-father was part of one, and they were the reason we were often on public welfare. I also place a lot of the blame on them for his early death. It doesn’t take a Union to negotiate for reasonable compensation packages and benefits, but when the board of a company sells out to Wall Street, the front line workers normally receive the short end of that stick.
It’s a shame that this country allows a small number of people to drive a company into bankruptcy, enriching a small group of the upper ranks, while leaving everyone else out in the cold. Seems like there should be some laws to claw back bonuses and other payments when this happens.
#bankruptcy #briggsandstratton #failure #greed