An important part of every negotiation is identifying what information you need from your counterpart and then getting it. Effective information gathering will not occur unless you create the appropriate atmosphere. One information gathering technique I recommend is...
A recent article in The New York Times suggests that ‘with the recession continuing in full force,” you should “(c)losely analyze every contract you have and look for places where you think you can get a cost reduction. Then ask for better terms.”...
As the deadline approaches for Fiat and Chrysler to reach a merger agreement, several classic negotiation tactics are in full display. The U.S. Government’s imposition of an end-of-the-month deadline adds both a sense of urgency and scarcity to the negotiation...
The future of the Formula One racing series is uncertain after negotiations between the FIA, the sport’s governing body, and FOTA, the racing teams’ association, broke down over the FIA’s plan to impose a budget cap for next season. Last Friday,...
In many sophisticated negotiations, each party will find independent standards like market value, precedent, expert opinions, etc., that favor their side and will use their most favorable standards to independently justify the “fairness” of their...
CIT Group, a US commercial lender, is negotiating with its bondholders to exchange a portion of its debt for equity. To increase its leverage, it is simultaneously preparing to apply for Chapter 11 bankruptcy protection – and default on $800 million in debt due...
Poor planning is the first mistake identified in an article about negotiation pitfalls on the Stanford Graduate School of Business website. I have long emphasized that our biggest challenge as negotiators – and managers of negotiators – is to change our...
The New York Times reported today that Iran told the International Atomic Energy Agency that it would not accept a plan to send to Russia its stock of low-enriched uranium (which it could use to build a nuclear weapon) in exchange for fuel rods only usable in its...
Former President Bill Clinton met yesterday with North Korean leader Kim Jung-il seeking the release of two imprisoned American journalists. Fortunately, he was successful and the journalists have now been reunited with their families in the United States. In light of...
The Financial Times reported this week that AIG has reopened talks with MetLife for the sale of AIG’s American Life Insurance Company (Alico) subsidiary. Reportedly, AIG hopes to raise “more than $15 billion” to help repay the $80 billion in bailout...
The Financial Times reported this week that AIG has reopened talks with MetLife for the sale of AIG’s American Life Insurance Company (Alico) subsidiary. Reportedly, AIG hopes to raise “more than $15 billion” to help repay the $80 billion in bailout...
CNN reported today that Democratic leadership in the House reached a deal with several “Blue Dog” Democrats to allow the Energy and Commerce Committee to resume its debate of the health care bill with a vote expected by the end of the week. The deal also...
