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This case study points to "irrational escalation" as an error committed by otherwise level-headed business people when they get into difficult and competitive negotiations. Robert Joseph Antoine Campeau was a CEO, Canadian financier and a real estate developer. Starting from a single house constructed in 1940 in the Alta Vista neighbourhood of Ottawa, Ontario, Campeau built a large land development corporation around the development of the suburb of Kanata. Expansion in the U.S. led Campeau to diversify into the ownership of retail department stores to anchor commercial development projects. Robert Campeau's ill-fated 1987 acquisition of Federated Department Stores, the parent's company of Bloomingdale's, is an example of irrational escalation. Robert Campeau, who wanted Bloomingdale's both for its inherent earning power and its potential to anchor various shopping malls he planned to develop, pursued his quarry boldly despite strong competition from Macy's. This rival also wanted the company and put in a high bid. Not to be outdone, Campeau bid some $500 million above Macy's last offer. With that bold stroke, he won the contest-but he also plunged his own organization into the largest retailing bankruptcy at the time in U.S. history. 1. What is the lesson we can learn from Bloomingdale's story 2. Why did Robert Joseph Antoine Campeau fall into the escalation error 3. What should be the remedies