Top 10 Worst Negotiations In History
Top 10 worst negotiations in history - Good businesses come from good decisions. But many times, good decisions are breaded of bad omens, hunches and whims erroneous nonsense. Multibillion-dollar losses of money, thundering falls of a reputation built over years and even trips to the prison are some of the results of bad decisions.
10 worst negotiations in history
Here are ten of the worst negotiations that took place in history. What are they? Let’s read!
The sale of Alaska
In 1867, Russia sold the territory that is now the state of Alaska to the United States for about $ 93 million. The time czar, Alexander II, had some financial trouble and managed to solve them with that amount. Moreover, the U.S. Secretary of State William H. Seward was called crazy by realizing this purchase. However, what seemed an act without reason soon became one of the best investments in the United States: time later, in the late nineteenth century, gold and oil was discovered in the area.
Refusal to your
Graham Bell had created what would become one of the most important findings of telecommunications: the telephone. When in 1876 he went to the Western Union Telegraph Company to sell his new invention, an internal company refused. He said the device had “many things to be considered against a media” and said that the phone was worthless. Bell decided not to give up and created the Bell Telephone Company based in Boston. Years later, in 1892, managed to make the first phone call history. Although the Western Union Telegraph Company Bell wanted to make competition with the minds of Elisha Gray and Thomas Alva Edison, all attempts were unsuccessful.
Bernard Madoff was once one of the most intrepid investors on Wall Street. In the hands of the company that bore his name, Madoff knew how to make millions of dollars. However, it was all a trap. The real deal was Madoff dupe their customers: they entrusted their money to him, which then was rewarded with great interest from the money he took from new victims. This pyramid investment scheme, known as Ponzi, proved to be one of the most fraudulent in history and was created by an Italian con artist of the same name. In 2009, Madoff was sentenced to 150 years in prison.
In the early 90′s, Kevin Costner was the great figure of Hollywood. With the success of “Dances with Wolves” was enshrined as one of the stars in the firmament of the blockbuster films. However, shortly afterwards, in 1995, Costner disgraced “Waterworld”, a film that presents a doomsday scenario from melting poles, was a total failure: it was the most expensive film in history, but not enough to raise 50% of the investment. Then, he wanted to recover what was lost with “The Messenger” but barely grossed $ 17 million, very little to compare the 80 million spent.
Failure to the Beatles
Dick Rowe, head of popular music division of Decca Records Company, received in his office to no more and no less than the Beatles, the legendary British band. The year was 1962 and Rowe was about to commit one of the biggest mistakes of his life rejecting. According to him, that guitar music was “in decline”, preferring instead, to a group called The Tremeloes. The Beatles, killed, met with producer George Martin, who catapulted to fame.
The exploitation of Carrejón
In 2000, Colombia sold its stake of nearly 50% in the exploitation of the mine Carrejón US$ 383 million. The owner of the other half, a company called Intercor, sold its stake in more than one billion dollars. Furthermore, Glencore, one of the buyers of Colombian part of the farm, sold its 33% US$ 1.700 billion. Taking some calculations, one can reach the conclusion that, in fact, Colombia could have sold his share in about US$ 2,500 million. A bad deal for the Latin American country.
A Coca Cola failed
Roberto Goizueta was a manager of The Coca Cola Company in the 80 and five years after leaving the company, decided to launch “New Coke”. Led by a new formula which sought to overcome this, Goizueta bet everything on a new brand which failed due to emotional memory that kept customers from the original Coca Cola. Over 400 thousand irate customers called to complain that it was a copy and provided that sponsored an event, it was completely booed.
Boo Boo Yahoo!
In 2001 crisis erupted Internet companies called “dotcom” and the owners of Google, Larry Page and Sergey Brin, got together with Terry Semell Yahoo! will offer for sale of the company. At the time, Google was a fledgling search page that, while very good, was not popular. For that reason, Semell rejected the Google offer to buy three million, missing an opportunity to buy a company that currently has a value of US$ 100 billion and represents a difficult competitor to win.
The jeweler who lost everything
In 2005, the jewelry merchant Ralph Esmerian wanted to buy Fred Leighton, a jewelry which resorted to the stars. This jewelry house had two branches in New York and Las Vegas, and glimpsed a possible Esmerian emporium before him. To achieve this, he asked various institutions banking, including investment banks Merrill Lynch was, about 76 million. However, in 2007, Esmerian filed for bankruptcy due to a number of his debts to the Sotheby’s and Christie’s homes. Although Merrill Lynch was left with some gems, could never recover the $ 192 million that, with interest, Esmerian owed.
Enron and its decay
The year 2001 was a year of failures. Enron, an energy company in the United States, had declared profits of more than a billion dollars but, months later, went bankrupt as a result of debt held by the sum of 30 billion. This had disastrous consequences in various fields. First, thousands of employees lost their jobs and also witnessed how their shares plummeted. Moreover, the presence of Enron in around 40 countries provoked a crisis in energy markets. Finally, the decline also spotted this giant public administration: many of the members of the highest ranks of government American George W. Bush and Vice President Dick Cheney were linked with the company.