The company warned that its losses, the pandemic and pending debt payments raised substantial doubt about its ability to continue as a going concern. Yet in June, while it skipped a $6.7 million interest payment, the company awarded its executives and other key employees more than $5 million in cash retention awards.
Such awards are often given before a company files for bankruptcy.
Therein lies the problem with this "SYSTEM" that is in place. The excutives should be stripped of those BONEUSUS and jailed. Their property including that which has been hidden should also be forfeited.
Same thing should have been done in 2008 but it wasn't
Excuses to screw the Shareholders, that's a page right out of Blunder Motors' playbook, in addition to cutting off all the Pensioners.
I'd really like my 11.9 Billion back but, too bad so sad. For whatever reason people still buy their junk (although they have lost significant sales to Fiat/Chrysler).
Briggs always was junk. I have fond memories as a kid getting zapped using their ground lever on the spark plug to shut one of them POS's off................only had to pull it 20 times to get it started in the first place. Honda or their Chinese knock-offs are 10 times better.
