[spoon-discuss] Stock Market v2.1

["Glotmorf" <glotmorf@xxxxxxxxxxxxx>]

What I've got for players is so far a bit sketchy...

{{ _Public Exposure_

If a proposal entitled "Marching through Wall Street" passed, add to it the following:

C.2. Players

A player may issue stock in emself; this is known as Going Public.  If a player has stock e may not issue more.

C.2.1. Going Public

A player Goes Public by stating the number of shares e is issuing, the number of said shares available for purchase, and the purchase price of said shares.  Shares equal to the stated number issued are created and become Issuer shares owned by the Issuer.

The Issuer can at any time declare a new number of shares available for purchase, not to exceed the Issuer's number of Issuer shares.  The actual number of an Issuer's shares available for purchase at any time is the number available last stated by the Issuer minus the number of shares subsequently purchased from the Issuer.

The Issuer can at any time declare a new purchase price for eir Issuer shares; said price cannot be less than zero.

C.2.2. Purchasing and Selling Player Stocks

Entities can purchase shares of player stock from the Issuer at the Issuer's stated purchase price up to the number of Issuer shares available.

Entities can purchase shares of player stock from the Bank at the Bank's purchase price for the stock.  Entities other than the Issuer of a stock can sell shares of that stock to the Bank at the Bank's sale price for that stock.  The Banks purchase and sale prices of a given player's stock are, respectively, N + 2 and N - 2, each not to fall lower than 1, where N is (the issuing player's score)/10, rounded up; Bank purchase and sale prices for player stock is set initially upon the creation of the stock to be the same as the Issuer's purchase price, and subsequently calculated at the beginning of each nweek.

C.2.3. Dividends

A player who has gone public has a dividend fund.  If there are outstanding shares of the player's stock, then for every three points the player's score increases (not counting decreases) the conversion value for one point to shillings is transferred from the player to the player's dividend fund.

If the number of shillings in a player's dividend fund is greater than 1/10 of the shares of the player's stock, one shilling is paid to each entity (including the Bank) for every ten shares of the player's stock that that entity owns.  If the owning entity is incapable of possessing shillings, the shillings are instead paid to the Bank.

C.2.4. Privatizing

If there are no Outstanding shares of a player's stock, that player can Privatize, which causes the player's stock to cease to exist.  Shillings in the player's dividend fund are released to the player.

C.2.5. Shareholder Voting

Each owner of a player's stock, including the Issuer, is known as a shareholder of the player.  Each shareholder of a player can cast shareholder votes, one per share owned of the player's stock, on each ballot issue, to determine how the player will vote on that issue; a shareholder vote must be one of the valid vote types for a ballot issue.   The votes a player casts as eir ballot votes are used to determine eir shareholder votes for that issue.

The vote type that receives the highest number of shareholder votes in a player's stock for a ballot issue, counting Abstain shareholder votes but not counting shares for which no vote was cast, determines what vote the player casts on that ballot issue.

If a player does not cast ballot votes, but shareholder votes cause eir ballot votes to be cast, the player is still not considered to have voted for the purposes of adjusting Activity.

C.2.6. Shareholder Takeover

If a player with outstanding shares of eir stock in excess of eir issuer shares leaves the game, the player is subject to a Shareholder Takeover.  A Shareholder Takeover changes the player into an entity called a Trust.  A Trust cannot perform any player action other than voting, and only votes as dictated by shareholder voting.

When a Shareholder Takeover occurs, the player's assets are distributed as follows:

- Stocks the player owns are sold to the Bank; the proceeds are added to the player's dividend fund.

- Shillings the player possesses are added to the player's dividend fund.

- Points are converted into shillings; the shillings are added to the player's dividend fund.

- If the number of shillings in the player's dividend fund is greater than the number of shareholders, each shareholder receives one shilling from the fund; the remaining are divided among the shareholders proportionate to the number of shares each holds, with any remainder going to the Bank.  If the number of shillings in the player's dividend fund is less than the number of shareholders, all of it goes to the Bank.

}}

I tried to work on Chapter 3, really I did, but this just stuck in my mind.  I guess Nomic really is better than sex.

						Glotmorf


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