Two implement firms, Deere and Case, are competing in the labor market for top managerial talent. Deere is deciding whether to start a new management training program and inviting managers from Case to join so that the entire industry can benefit. While at the management program, however, Case executives will have to decide whether they want to poach top talent from Deere. The following game tree represents these sequential decisions and the associated payoffs (in thousands).

not poad' $40. $5 Start new management program V Do not start new management program $15. $0