Best Practices in Negotiation - The $35K Corporate Commode
July 7th, 2009 |Former Merrill Lynch CEO John Thain was awarded $1.2 million to remodel his office, $35k of which went to purchasing a new commode, according to news reports. You might get a whiff of these stats and think, “Whew, that’s a ton for a toilet!” Can’t blame you for that, but what is even more rudely assaulting is that all of Mr. Thain’s perks were presumably negotiated.
It’s not as if every executive is thrown an $87,000 area rug to set off his impressive desk, as was Mr. Thain. A magical carpet has to be ASKED FOR and someone or some oversight group, such as a compensation committee, needs to APPROVE, to sign-off on the deal, and fly it to your penthouse.
I readily admit I have no insider information about how these negotiations took place, but I do have questions:
Did Mr. Thain start high, and then bargain down to what he got? Was his heart set on a $200k commode, but he had to settle for that measly $35k portable potty? (Is was reported that the toilet he got was designed with “legs.”)
When he left Merrill, did he take it? Did it chase after him? I teach “Best Practices in Negotiation” at a number of universities and privately, but I must admit, some bargained-for items just seem way over the top. (Or should that be, under the bottom?)
How do you have the temerity to even request such unusual adornments? And wouldn’t your wish list, however dotty, send an alarming message about you, to whomever you report, and especially to shareholders? Apparently not, which summons to mind one of the 101 best practices I teach: If you don’t ask, you don’t get! What you ask for, I leave to you, and to your interior decorator.
Dr. Gary S. Goodman teaches his original seminar, “Best Practices in Negotiation” at a number of universities, corporations, non-profit organizations, and governmental agencies. A top-rated keynote speaker at conventions and conferences around the world, he is also the best-selling author of 12 books, and more than 1,500 articles, which appear in approximately 25,000 publications. An attorney and communications professional, his expert commentary is featured on CNBC television and on numerous radio stations.
Additionally, Dr. Goodman is the creator of Nightingale-Conant’s successful audio seminar: THE LAW OF LARGE NUMBERS: HOW TO MAKE SUCCESS INEVITABLE. See: http://www.nightingale.com/prod_detail~product~Law_Large_Numbers.aspx His web site is http://www.customersatisfaction.com and he can be reached at gary@customersatisfaction.com.
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