Harvard University’s negotiation experts offer advice on deal negotiations when you’ve done everything right, but still can’t reach a final agreement.
To boast about one’s self, possessions, position, life accomplishments etc. excessively.
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What would you do if someone threatened you? Strike back? Run away? Beg for mercy? Try to negotiate?
Last April, The New York Times in effect held a gun to the heads of Boston Globe employees – twice. The confrontation, say experts at the Harvard Program on Negotiation, offers valuable lessons in handling high-risk, high-stakes situations.
Background: Sixteen years earlier, The Times bought The Globe for $1.1 billion, the highest price ever paid for an American newspaper. The investment paid off at first, then the newspaper business started heading south. In 2008, The Globe lost $50 million; in 2009, it was on track to lose $85 million.
So The Times threatened to shut the paper down unless employee unions agreed to $20 million in pay cuts, lower severance pay, and an end to lifetime job guarantees for certain employees. Half the concessions – $10 million – were to come from The Globe’s largest labor union, the Boston Newspaper Guild.