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2038: Tycoons of the Asteroid Belt» Forums » Variants

Subject: New rule idea? Growth corps at other pars rss

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Key Bounce
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So here is a thought for a new rule for 2038:

Growth corporations, although they always start at the $10 spot, may choose to set their "per-share" purchase price at any of the normal legal prices instead.

The idea: Growth companies that have good runs, that would be good opportunities for people to purchase (too good for the normal price) can price their shares appropriately.
 
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Eric Brosius
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The concern I'd have is that you turn in a minor for the President's share of a Growth Corporation, and it seems odd that you can choose to get a more valuable President's share with no extra cost.

I agree that a good Growth Corporation often gets bought up almost instantly. But that's what half-paying dividends is for!
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Steve Graber
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The President's share wouldn't be worth any more no matter what you set the par value at. The value of the shares start at $10 and increase from there. Increasing the par value would increase the amount of money going into the company for every share sold, but would also extend the time required for the value of the shares to become equal or greater than the price paid for the shares.
 
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Tom Lehmann
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keybounce wrote:
So here is a thought for a new rule for 2038:

Please post variants in the Variants forum. That's what it is for.

Quote:
Growth corporations, although they always start at the $10 spot, may choose to set their "per-share" purchase price at any of the normal legal prices instead.

The idea: Growth companies that have good runs, that would be good opportunities for people to purchase (too good for the normal price) can price their shares appropriately.

The whole point of Growth companies is to create tension between their low capitalization & low stock price vs. the high capitalization and stock price of Public Corporations.

This rule completely guts that tension by allowing growth companies to retain dividends fully while enjoying high price protection.

Further, it allows the President to gradually fund his or her own corporation well by slowly buying its shares over time at a high price while it is also retaining dividends for all its unsold shares. This is what I call a "have your cake and eat it" rule that destroys play tension. I think it is a bad idea.

I do understand that some 18xx games are riddled with "have your cake and eat it" rules. I *personally* think that these are poor games, which is why I try to avoid such rules in my own 18xx designs. Your mileage may vary, of course (which is why this discussion really belongs in the Variants sub-forum, whose posts I don't read nor comment on).
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Steve Graber
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This is really interesting. Thank you for sharing. The 2038 games does seem to have some interesting tension.

What do you mean by "enjoying high price protection"? Does that mean other players aren't going to buy it because the price of a share is much higher than the value you can get by selling the share?
 
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Eric Brosius
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When you start a Growth corporation, it's common for other players to buy up stock, since it's a bargain even at $67. This leads to capitalization challenges. If you could pick a par of $100, this would be harder to do, so the company would be much better capitalized (and as a result, people would start a lot of Growth corporations, and the Asteroid League would almost always be weak.)
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