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1846: The Race for the Midwest» Forums » Rules

Subject: Selling President Certificate rss

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Scott
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Can you sell the President Certificate to the corporation? Alternately how do you dump a corporation? I know there is a restriction prohibiting the presidents certificate from the Stock Market. This situation came up in a noob game where buying the next train was going to be troublesome. The owner wanted to dump the corporation to avoid a forced train purchase. What happens if say only one other person has a stock certificate? He wouldn't get the company. Is the corp done and stockholders loose out? I realize this situation is probably due to poor play, but an explanation would be appreciated. Thanks!
 
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Garret Wehrman
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hank__hill wrote:
Can you sell the President Certificate to the corporation? Alternately how do you dump a corporation? I know there is a restriction prohibiting the presidents certificate from the Stock Market. This situation came up in a noob game where buying the next train was going to be troublesome. The owner wanted to dump the corporation to avoid a forced train purchase. What happens if say only one other person has a stock certificate? He wouldn't get the company. Is the corp done and stockholders loose out? I realize this situation is probably due to poor play, but an explanation would be appreciated. Thanks!


You cannot sell a President Certificst to a corporation. If you're looking to dump a company someone else has to hold at least 20 percent in shares. You don't actually sell the President Certificate, you just trade it for two 10 percent shares when you are no longer the majority holder. In your example, you would not be able to dump the company because no one else can take the President Ceritificate and would be forced to purchase a train.
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Pete Goch
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hank__hill wrote:
Can you sell the President Certificate to the corporation? Alternately how do you dump a corporation? I know there is a restriction prohibiting the presidents certificate from the Stock Market. This situation came up in a noob game where buying the next train was going to be troublesome. The owner wanted to dump the corporation to avoid a forced train purchase. What happens if say only one other person has a stock certificate? He wouldn't get the company. Is the corp done and stockholders loose out? I realize this situation is probably due to poor play, but an explanation would be appreciated. Thanks!



In order to be able to dump a company two things must be true. At least one other player must have 2 or more shares in the company. There must be "room" in the open market for the president to sell shares such that at least one player has more shares than he.

Let's say the president has 5 shares and one other player has 2 shares. There is one share in the open market. The president may announce that he is selling 4 shares. This would bring the open market to 50% and he could sell no more. He exchanges his president's certificate for the other player's 2 shares and places 4 of his shares into the open market, retaining 1 share for himself.

If there had been 2 shares already in the open market the president would not have been able to sell enough shares to transfer the presidency to the player with 2 shares. Alternately, if no player held at least two shares he could have sold no more than 3 shares into the open market even if there were no shares present in the open market as there would have been no one to exchange the president's certificate with.

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Travis Dean
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I'll probably be beat to answering this, but here goes...


The only time you can sell the President's Certificate is if after doing so, somebody else would be president and no more than 50% of that company's shares are in the bank pool.

So if everybody else at the table has 10% or 0% owned in the company, than no, you can't sell your president's certificate. You are stuck with it, and in the case you mentioned, you will eventually be put into a forced train purchase.



If anybody else owns at least 20% in your company, than it's possible. You still, however, have to be able to sell down to where that player will have more ownership than you, and there can't be more than 50% in the bank pool. Then that player trades 2 10% certificates for the single 20% president's certificate.


e.g.1. I own 30% of my company, and you own 20%. The other 50% is owned by the company (not the bank pool). If I sell 20 or 30% (2 or 3 shares), then after selling, the president's certificate (for sake of argument) will temporarily be in the bank pool. Then you'll immediately swap out your 2 10% certificates for the 20% certificate. You are now the president.

e.g.2. I own 60% of a company. You own 20%, and player Bob owns 10%. The last 10% share is in the bank pool. Since the bank pool can't exceed 50% of my company's shares, I can only sell 40%. This would put me at 20%, tied with you. So I would keep the president's certificate. No good for me.

e.g.3. I own 60%, you own 20%, and Bob owns 20%. I can now sell 50%. I am still stuck with that last 10% share. Now who becomes president? Both you and Bob are both the majority share holders. In this instance, it's first person clockwise from me. Since you go after me and Bob goes after you, congratulations, you are now president.
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Scott
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Thanks for then quick replies. We played it correctly!
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