Todd Teske, the former chairman and CEO of Briggs & Stratton, has filed an $11.6 million claim in the bankruptcy case seeking his share of payments that are likely to be in the range of 7-8 cents on the dollar

Was the Briggs board a mutual protection society for its top executives and, frankly, its members? Or did the board, through no fault of its own, encounter impossible obstacles and have no choice but bankruptcy?

Under the terms of the agreement, an affiliate of KPS formed for purposes of this transaction has agreed to acquire substantially all of the Company's assets and assume certain customer, employee and vendor liabilities, and it would act as the stalking-horse bidder through a court-supervised sale process.

The company plans to consolidate production of its small vertical-shaft engines into its Poplar Bluff, Mo., facility. This consolidation will result in the closure of the company's Murray, Ky., facility by the fall of 2020.

Todd Teske, Chairman, President & CEO of Briggs & Stratton, explains InfoHub, the company's web-based fleet management software solution for commercial cutting professionals, designed to drive efficiency, accountability and profitability.

Todd Teske, Briggs & Stratton's chairman, president and CEO, comments on the near-term economic forecast and growth in the commercial and residential markets.

Company reports 15% growth in sales on both storm-related benefit and continued strength in commercial engines and products. Briggs & Stratton will hold its first Investor Day on Nov. 1 in New York City.

Todd Teske, President & CEO of Briggs & Stratton, comments on the housing market and its affect on consumer demand for lawn & garden equipment.

Fourth quarter net sales decreased 6.0% before currency impacts due to cooler than normal spring weather in North America and Europe.

Tim Merrett of Deere & Co. is chair. Daniel Ariens of Ariens Co. is vice chair and Tom Cromwell of Kohler Co. is secretary/treasurer.