Briggs & Stratton taps restructuring advisers with debt looming
Briggs & Stratton Corp., on the brink of bankruptcy, hired restructuring advisers to help rework debt that starts coming due this year. The century-old Wisconsin-based company employs 430 workers in Auburn. In 2018 it chose Auburn to be one of two primary distribution centers. — Bloomberg
Riskiest U.S. companies are left behind in rush to buy debt
One example of a company keen for funds is Briggs & Stratton, a century-old maker of lawnmower engines. Analysts note that the Milwaukee-based company needs to refinance a $175m bond that must be paid off in September to avoid triggering an immediate repayment of a separate, and larger, bank loan. But people familiar with the company’s situation say the bond market is currently closed to it. — Financial Times
Supreme Court ruling upholds Alabama voting restrictions
State officials had asked the court to block a lower court’s order that eased photo ID and witness requirements for absentee voting during the pandemic. — New York Times
Alabama dam failure risks, in lieu of Michigan flood
Alabama is the only state without a dam safety regulatory program, yet it has 676 high-hazard and significant hazard dams. Only 50 even have an emergency action plan in place. This is one assessment in the wake of damaging floods in Michigan three weeks ago following dam failures. — International Viewpoint
Oil mixed on tighter supply, surge in U.S. virus cases
Oil prices are mixed today, with Brent crude edging higher, supported by tighter supplies and positive economic data, while U.S. benchmark WTI futures dropped on concern that a spike in coronavirus cases could curb demand in the United States. Alabama is one of seven states that recorded new daily highs in Covid-19 cases last week. — Reuters
People in Madison come out in thousands to enjoy Toyota Field fireworks
Toyota Field officials say more than 3,000 people came to the ballpark to watch a fireworks show. — WAAY
