1817 v28b rules updated
Craig Bartell
https://sites.google.com/a/proto.deepthoughtgames.com/www/home/1817-prototype-files
v28b changes:
Clarified section 4.5
Corrected share number inconsistency in section 4.3.
Added paragraph to 6.1.3 to handle case after two 5-share companies
merge and have more than five short shares.
Eric Brosius
In section 6.1.1, the following sentence needs to be deleted:
"If the company has previously been sold short, place the remaining
short share certificates and corresponding long share certificates
into the "NYSE Open Short Interest" pace."
This sentence originally made sure the number of short shares
available went up from 5 to 10 when a 5-share company converted to a
10-share company.
Craig Bartell
Eric Brosius
Suppose two 5-share companies merge, each with 5 short shares in play.
The surviving company now has 10 short shares in play. Suppose
players own just three short shares in each of the merging companies,
with 2 short shares (and corresponding regular shares) for each
company in the open short interest box. According to the rules as
written, since more than 5 short shares exist in the surviving
company, all the short shares remain in place, and in fact, more
shorting could happen, since you never made it down to the "5 short
shares or fewer" trigger needed to remove the extra short shares from
play.
I'd like to propose an alternative to this. The last paragraph of
6.1.3 could read as follows:
============
If two 5-share companies merge, and both companies had short shares in
play prior to the merger, there may be too few shares and short shares
available in the surviving company to replace all shares and short
shares from the disappearing company. If so, it is necessary to leave
some of the shares and short shares from the old company in place for
some time. Place the old charter under the surviving company's
charter as a reminder that the old shares are being used as shares in
the surviving company.
During this time, whenever there is a short share and a regular share
in the company in the open short interest box and there are more than
6 short shares in the game, remove the share and the short share.
(Any share or short share belonging to the surviving company should
first be swapped for a corresponding share or short share from the old
company that is owned by a player or in the bank pool so that you
remove a share or short share from the old company from the game.)
Once all of the shares and short shares from the old company have been
removed in this way, return the old company's charter, shares and
tokens to the storage area for re-use.
Eric Brosius
"more than 6".
Craig Bartell
After two 5-share companies merge, it is possible that more than five
short shares exist in the surviving company. In this case, shares and
short shares in the old company are used as short shares in the new
company until there are five or fewer short shares in the new company
held by players. Place the old charter under the surviving company’s
charter as a reminder that the old shares are being used as shares in
the surviving company.
I think your suggested wording is better than what I have so far, but I
think there is still room for improvement. I'll keep working on it.
Maybe Steve Thomas will chime in and help :)
Craig
Dave4B
out, the old company is not available for reuse until the number drops
to 5?
Craig Bartell
The goal is to make this easy during game play - and using the existing
company short shares if more than 5 are needed seems easiest.
Suggestions are welcome.
Craig
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