According to The Business Dictionary, …show more content…
At the breakfast banquet, Schlichtmann demanded $25 million for the victims, another $25 million to establish a research institute to “study the links between hazardous waste and illness” and $1.5 million for each family for 30 years (boulder in the road). Subsequently, Beatrice’s attorney found this request outlandish and later offered Schlichtman $20 million (outside the courtroom Jerome place a 20 dollar bill on the bench beside him and said he could add 6 more zeros). He let his greed get the best of him and became obsessed about getting as much money from the corporate giants as he could. Furthermore, Schlichtmann did not have a best alternative to the negotiated agreement (BATNA) and thus declined the offer. The only amount he was willing to accept was the amount the other party was not willing to give. This turned out to be most unwise as the judge ruled that Beatrice Foods was not culpable for the outbreak of cancer-related deaths and other illnesses in the small Massachusetts community. In the end he ended up with an $8 million settlement from