Viking Investment
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Viking Investment（Principals）Jiancheng Feng691881What is your walk away point? How did you come up with that? My walk away point is paying Sandy Wood the original bid of $700,000. Paying invoice from Sandy will resulting in $2,800 per unit in additional costs exceeds the maximum possible profit of $ 2,500 per unit Viking investment could have paid from this project. What is your target? How did you come up with that?My target are to pay Sandy Wood origianl bid of $700,000，receive Sandy’s loan due, and Sandy’s rent due resulting the total of $430,000 remaining investable resource except the cash on hand. The contract with Sandy states that 1. 1.WoodCrafters shall be responsible for any cost overrun on labour or material . In no event shall Viking be obligated to reimburse WoodCrafters for any cost overruns not expressly agreed to by Viking. 2. The contract is final and binding. No amendments to this contract shall be effective unless in writing and signed by both parties. C. It is supported and advised by my lawyer. However, I only focus on the recovery the $210,000 from the payment due, or seize any assets i had purchased with the $210,000, considering the high possibility that Sandy might declares bankruptcy.
What are your sources of power and key weaknesses in this negotiation?Power：Positional: The written contract and my lawyer support my target. Most of the responsibility of the current problem is caused by WoodCrafters’ desperate cry for liquidity and more profits to avoid bankruptcy. The behaviours of Sandy were not approved by me. Personal: I can feel calm and reassured, and stay reasonable and patient after disappointment and the betray of Sandy. I am legally and economically resourceful(with from Dana Simons and my lawyer). I have strong confidence to insist and stand for my rights. Weakness: I have recently been in a unpolite phone fight with Sandy, this may be bad for our discussion. There may still be feelings that lead to relationship conflict and process conflict.I am just back from your travels, things may not happen as they were told. There might be misunderstanding and disclarity about the reason why Sandy made the decision. What is your strategy for getting a wise agreement? A. I am going to focus on maintain my interests and target, which is to maximize the net value gain and keep the original bids of $700,000.