A man walks into a company that has already gone bankrupt twice. On paper, it has about six weeks left. The spreadsheet says what every lender wants to hear: liquidate and turn out the lights.

But one man didn't buy it.

James Rhee, the businessman who rescued clothier Ashley Stewart, had a feeling the retailer's numbers were leaving something out. So he did something strange for a finance guy — he got up from the desk, walked the floor, and went looking for what the balance sheet couldn't tell him.

A spreadsheet is good at counting. But is it any good at value? It can tell you what something costs, but that isn't quite the same as what it's worth to you, to the other side, or to the deal.

This episode uses the rescue of clothing retailer Ashley Stewart to show why the best audit rarely fits on a spreadsheet. A fuller audit doesn't just change what you see on the page. It changes the way you sit down at the table.

Because the person with the most data and the person who's best informed are not always the same person. And one of them tends to win.

Here's how to bring your spreadsheet without letting it do your thinking for you.

Remember: negotiation is life.

Mentioned in this episode:

• Red Helicopter – A Parable For Our Times: Lead Change with Kindness (Plus a Little Math) by James Rhee
• "The Value of Kindness at Work," a TED Talk by James Rhee
• Verbal Judo: The Gentle Art of Persuasion by George J. Thompson and Jerry B. Jenkins
• "#60 – EAT Your Words: The Communication Framework the NYPD Just Used to Save a Life," the June 2, 2026 episode of Station 4 Negotiation